States shortfall over 1 trillion dollars

for retiree benefits.  This Washington Post article summarizes the Pew study.  Notice the interactive map of the US therein, that will let you look up information presented by state as to several questions around pensions.  http://www.washingtonpost.com/business/economy/states-face-126-trillion-shortfall-in-funds-to-pay-retiree-benefits/2011/04/25/AFpprVmE_story.html   The link to the report itself at the Pew Center on the States is here http://www.pewcenteronthestates.org/trends_detail.aspx?id=58297

California audit findings of employee travel advances

and loans that were not paid.  Halted for now, but this state practice is now being investigated.  This LA Times April 21, 2011 story by Anthony York indicates millions of dollars at issue in terms of accountability   http://www.latimes.com/news/local/la-me-unpaid-loans-20110421%2C0%2C4285091.story

First of three GASB podcasts

on pensions http://www.gasb.org/cs/ContentServer?site=GASB&c=Page&pagename=GASB%2FPage%2FGASBSectionPage&cid=1176158425011

Effectively engaging the public is a must

for government officials.  This article by Katherine Barret and  Richard Greene is discussing the proactive role that government officials need to take to inform the public http://www.governing.com/columns/smart-mgmt/effectively-engaging-public.html

Treasury department's inspector general finds

Governments submit inaccurate tax form data, well, less than 1%, but what about the example being set  http://thehill.com/blogs/on-the-money/domestic-taxes/157205-audit-governments-could-reduce-number-of-incorrect-tax-submissions.  

Warnings of the federal debt and investors

in the muni bond react, or don't as discussed http://www.reuters.com/article/2011/04/21/us-markets-municipals-idUSTRE73K64120110421

How one of the richest counties is nearly broke

This story as reported by Bloomberg Business Week http://www.businessweek.com/magazine/content/11_17/b4225066138557.htm

Will US government bonds be downgraded?

Standard and Poors issued warnings http://www.independent.co.uk/news/business/news/sampp-springs-downgrade-warning-on-us-debt-2269709.html     Some question whether S&P has the integrity to make this kind of call   http://www.cnbc.com/id/42650973    Another perspective available in this link http://www.economist.com/blogs/buttonwood/2011/04/debt_crisis    This ten minute video from the Wall Street Journal has individuals involved in this discussing it

Governors' salaries decline

on average according to Stateline http://www.stateline.org/live/details/story?contentId=565482  Some of this driven by California, who decreased theirs, and I never Arnold never took a salary for being governor.  Public servants.

Tax Foundation Fiscal Fact releases

data from Census Bureau on State tax collections.  The 2010 data shows a decline in state revenue and reports data by state http://accounting.smartpros.com/x71703.xml

GASB looking at State's pension disclosures

The importance of the discount rate used and expected rate of return to ensure good numbers are used in the disclosures http://www.reuters.com/article/2011/04/01/us-usa-states-pensions-accounting-idUSTRE7305Z020110401