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Preparing for Risk: GASB-Style
In a day when one of the only sure things about the future of state and local finances is that they are unpredictable, a proposal issued by the Governmental Accounting Standards Board (GASB) earlier this summer is of particular interest. Earlier this summer, the GASB issued an Exposure Draft, titled Certain Risk Disclosures. The project focuses on two categories of risk that could affect the level of services a government is providing or its ability to meet obligations when t