General Assembly Proposed Bill No. 5655
January Session, 2011 LCO No. 1019
Referred to Committee on Appropriations
Introduced by:
REP. REYNOLDS, 42nd Dist.
General Assembly
Proposed Bill No. 5655
January Session, 2011
LCO No. 1019
Referred to Committee on Appropriations
Introduced by:
REP. REYNOLDS, 42nd Dist.
AN ACT REQUIRING THE STATE TO USE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP).
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That section 3-115b of the general statutes be amended to require that the Comptroller and the Secretary of the Office of Policy and Management adopt generally accepted accounting principles, as prescribed by the Governmental Accounting Standards Board, in the preparation of state financial documents and the state budget for the fiscal year ending June 30, 2012, and that the Governor and Secretary of the Office of Policy and Management shall submit to the Appropriations Committee a long-term plan for addressing the cumulative GAAP liability.
Statement of Purpose:
To enhance transparency and accountability in state budgeting.