GASB Issues a Request for Response on Proposed Suggested Guidelines for Voluntary...

GASB Issues a Request for Response on Proposed Suggested Guidelines for Voluntary Reporting of SEA Performance Information

NORWALK, Conn.--(Business Wire)--
The Governmental Accounting Standards Board (GASB) today issued a
Request for Response on Suggested Guidelines for Voluntary Reporting
of SEA Performance Information. The Request for Response was
unanimously approved by the seven Board members.

The purpose of this document is to obtain feedback from
constituents at an early stage of the Board's project to develop
guidelines to assist state and local governments that voluntarily
choose to report on their service efforts and accomplishments (SEA).
The document can be downloaded free from www.gasb.org/exp.

While it is beyond the scope of the GASB to establish the goals
and objectives of state and local government services, to develop
specific nonfinancial measures or indicators of service performance,
or to set benchmarks for service performance, research has shown that
many constituents consider it appropriate for the GASB to issue at
this time conceptually based suggested guidelines for voluntary
reporting of SEA performance information.

The reporting of SEA performance information provides more
information about a government's efficiency and effectiveness in
providing services to its citizens than can be provided by traditional
financial statements, and is therefore an important method of
demonstrating accountability and stewardship.

The Request for Response provides proposed suggested guidelines
that can help state and local governments more effectively communicate
SEA performance information to citizens, elected officials, and other
interested parties. Constituents are invited to provide feedback on
the suggested guidelines, which include what the GASB has identified
as the four essential components of an effective SEA report and the
six qualitative characteristics of SEA performance information.

The four components identified are: purpose and scope, major goals
and objectives, key measures of SEA performance, and discussion and
analysis of results and challenges. The six qualitative
characteristics, as set forth in Concepts Statement No. 2, Service
Efforts and Accomplishments Reporting, are relevance,
understandability, comparability, timeliness, consistency, and
reliability.

Constituents are encouraged to review the proposed guidelines and
provide feedback to the GASB. The GASB is providing several methods of
offering input:

-- Written comments can be submitted until October 31, 2008,
through the mail or through filling out the Internet-based
form at www.gasb.org/survey/cgi-bin/searptguide.html.

-- Alternatively, written comments can be emailed to
director@gasb.org or mailed to the Director of Research and
Technical Activities, Project No. 20-2, Governmental
Accounting Standards Board, 401 Merritt 7, PO Box 5116,
Norwalk, CT 06856-5116.

-- A public hearing will be held in conjunction with the National
League of Cities' annual Congress of Cities & Exposition in
Orlando, Florida, on November 14, 2008, beginning at 8:00 a.m.
Individuals and organizations can participate in person or by
telephone. The deadline for notifying the GASB of an intention
to participate is October 31.

-- A user forum will be held on November 7, 2008, beginning at
2:00 p.m., in New York City. Participation in this forum is
open to users of SEA performance information such as elected
officials, legislative staff, citizen or citizen
organizations, taxpayer associations, media representatives,
and municipal analysts. Participation in the forum can either
be in person or by telephone. The deadline for notifying the
GASB of an intention to participate is October 31.

About the Governmental Accounting Standards Board

The GASB is the independent, not-for-profit organization formed in
1984 that establishes and improves financial accounting and reporting
standards for state and local governments. Its seven members are drawn
from the Board's diverse constituency, including preparers and
auditors of government financial statements, users of those
statements, and members of the academic community. More information
about the GASB can be found at its website www.gasb.org.

Governmental Accounting Standards Board
Christine Klimek, 203-956-3459

Copyright Business Wire 2008