gasb 44 and state implementation eric s. berman - deputy comptroller commonwealth of massachusetts...
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GASB 44 and State Implementation
Eric S. Berman - Deputy Comptroller Commonwealth of MassachusettsNational Association of State Auditors, Comptrollers and Treasurers
June 14, 2006
Statement 44 – Economic Condition Reporting
• States if part of GFOA CAFR program are 95% there – already doing– Financial trends– Revenue– Debt– Demographic /
Economic– Operations
• Key for states to focus on– OPERATING INFORMATION – why?
• Focus on information that is– Verifiable– Replicable– Tells the story that ‘should be told’
Statement 44 – Economic Condition Reporting
Statement 44 – Economic Condition Reporting
• OPERATING INFORMATION – basic requirements:– By GASB 34 Activity category:
• Number of government employees
• “Indicators” (e.g. performance measures) of the demand of level of service
• “Indicators” of capital asset usage
In other words “YIKES!”
Statement 44 – Economic Condition Reporting
• Operating Items that could be gathered– DOR
• Tax returns transmitted electronically as a % of total
– ANF• Employees covered by benefit plans
– DOC• Counts, new offenders and released
– EHS• Medicaid / Food Stamp Recipients
– Higher Ed• Enrollment and degrees
Statement 44 – Economic Condition Reporting
• Sources of data in addition to the Internet– Internal “metrics” reports for Governor /
Legislature– Bond Official Statements / Annual Updates– Budget documents– Federal grant applications
• Not getting consensus on what an “employee” is or what is the employee’s home agency
• Not agreeing with policymakers / Secretariats up front as to what the key indicators should be for operations
• Think about BLENDED component units
Statement 44 – Economic Condition Reporting – Keys to Success – or lack thereof
• Not footnoting to sources beyond audited financials
• Graphs that portray the wrong message
• Too much data and not enough information
• Inconsistent periods
Statement 44 – Economic Condition Reporting – Keys to Success – or lack thereof
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