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Issue Position: Modern Accounting

Issue Position

Date: Jan. 1, 2016
Issues: Government Operations Government Budget and Spending

Realistic budgeting begins with modern methods of accounting. Government departments should be required to report not only annual expenditures (the current norm) but also accrued liabilities, including pension obligations. This type of accrual accounting has been standard practice among private enterprise since the 1970s. In the interest of transparency and responsible budgeting, it must become the norm for our state government. In addition, Kevin will control costs by supporting a zero-based budgeting approach, which would require that government departments annually justify their budgets from scratch.


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