Norwalk, Conn. (June 8, 2004) -- To enhance the disclosure within the statistical portion of state and local government financials, the Governmental Accounting Standards Board has released Statement No. 44 -- Economic Condition Reporting: The Statistical Section.

GASB said the new statement was drafted to "reflect significant changes that have taken place in government finance," including the comprehensive information required by GASB's Statement 34.

The statistical section is comprised of schedules presenting trend information on revenues and expenses, outstanding debt, economics and demographics -- all barometers of assessing a government's financial health.

GASB's Statement 44 is effective for periods beginning after June 15, 2005. The statement (Product Code GS44) can be ordered through the GASB's order department at (800) 748-0659 or online at www.gasb.org.

-- WebCPA staff

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