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B-197232 1 (1980-06-30)

handle is hein.gao/gaobachjg0001 and id is 1 raw text is: 




             COMPTROLLER GENERAL OF THE UNITED STATES
*                     WASHINGTON, D.C. 20543






B-197232
                           jn 3 (6 98O



The Honorable L. H. Fountain
Chairman, Subcommittee on
  Intergovernmental Relations
  and Human Resources
Committee on Government Operations
House of Representatives

Dear Mr. Chairman:

     We met recently with representatives of several
public interest groups interested in State and local
governmental affairs to discuss the need for accounting
standards. Representatives from the following organiza-
tions were in attendance:

     Council of State Governments
     National Association of Counties
     International City Management Association
     National Conference of State Legislatures
     National Governors' Association
     National League of Cities
     U. S. Conference of Mayors
     Municipal Finance Officers Association
     National Association of State Budget Officers
     National Association of State Auditors,
       Comptrollers, and Treasurers
     State, County, and City Public Interest Groups

     There was general agreement among those present that
such standards were badly needed for several purposes
including informing citizens, investors, and the Federal
Government more fully on the way in which funds entrusted
to such governments are spent. The public interest group
representatives agreed to support a Government Accounting
Standards Board and a foundation to support it. They
also agreed that it should be funded by other than the
Federal Government. It was proposed that the public

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