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Full-Text Articles in Business
Popular Financial Reports: Tools For Transparency, Accountability And Citizen Engagement, Juita-Elena Yusuf, Meagan M. Jordan
Popular Financial Reports: Tools For Transparency, Accountability And Citizen Engagement, Juita-Elena Yusuf, Meagan M. Jordan
School of Public Service Faculty Publications
Most governments issue annual financial reports; in the US, state and local governments issue the Comprehensive Annual Financial Report, or its equivalent. However, these reports have been found to be neither readily accessible nor particularly informative to non-financial experts such as the general public. In response, professional associations such as AGA, the Governmental Accounting Standards Board (GASB), and the Government Financial Officers Association, have promoted the use of different types of popular financial reports as an alternative reporting mechanism. According to GASB, financial reporting plays a critical role as a tool for public accountability in a democratic society. Yet, various …
Changing And/Or Funding Opeb Promises: A Typology Of Local Government Responses To Gasb 45 And The Realization Of Opeb Liabilities, Juita-Elena Yusuf, Thomas Musumeci
Changing And/Or Funding Opeb Promises: A Typology Of Local Government Responses To Gasb 45 And The Realization Of Opeb Liabilities, Juita-Elena Yusuf, Thomas Musumeci
School of Public Service Faculty Publications
GASB Statement No. 45 addresses how governmental units account for employees' other post-employment benefits (OPEB), requiring government employers to replace OPEB reporting on a pay-as-you-go basis with an accounting of the cost of current and future benefits. This requirement and the resulting OPEB liability may prompt government employers to reconsider key questions regarding their OPEB provision. The size of the OPEB liability depends on both the benefit promises made to employees and the assets to fund these promises. We propose a typology that defines four approaches for governments to respond to GASB 45 and their OPEB liabilities. These approaches represent …