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Business and Policy Areas
Business and Policy Areas
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GASB Seeks Comments on SEA Performance Reporting

September 11, 2008

The GASB has issued a "Request for Response" document to gather feedback from constituents.  The GASB’s objective is to develop guidelines - not accounting and reporting standards - for organizations that voluntarily choose to report on their service efforts and accomplishments.

The GASB acknowledges that it is beyond its scope to establish the goals and objectives of governmental organizations, including public colleges and universities. However, because SEA performance reporting can provide important qualitative information about a government’s effectiveness and accountability, the GASB seeks to assist organizations who want to develop and report such nonfinancial measures of service performance. 

The GASB identifies four essential components of an effective SEA report and six qualitative characteristics of SEA performance information. The four components are:

  1. purpose and scope
  2. major goals and objectives
  3. key measures of SEA performance
  4. discussion and analysis of results and challenges

The six qualitative characteristics, as set forth in Concepts Statement No. 2, Service Efforts and Accomplishments Reporting, are: 

  1. relevance
  2. understandability
  3. comparability
  4. timeliness
  5. consistency
  6. reliability

NACUBO encourages public institutions to review the proposed guidelines and provide feedback to the GASB by October 31, 2008.  Member institutions can also help inform NACUBO comments by providing by providing feedback to Sue Menditto, Director, accounting policy.