ISEG Executive Director Provides Federal Testimony on Reporting and Transparency

Dr. Ted Bolema, Executive Director of the Institute for the Study of Economic Growth (ISEG), testified before the Government Accounting Standards Board (GASB) on the need for maintaining and improving current standards for government reporting and transparency.

Dr. Bolema highlighted his work on the State Fiscal Rankings report and noted considerable improvement in the quality of available data since the introduction of the GASB reporting rules for unfunded long-term obligations. Dr. Bolema outlined how the current proposal under consideration threatened the gains made by no longer requiring reporting of information governments need to evaluate their ability to meet future obligations.

Further, Dr. Bolema highlighted while the proposal shielded current officeholders and administrators from accountability, their successors would be left with major problems which were of no benefit to the future government and its employees and citizens.