Government Accounting Standards Board - GASB

Companies aren't the only organizations that need to have clear accounting. Governments have to keep their books tidy as well. The rules for how state and local governments should apply accounting techniques are set by the Government Accounting Standards Board.

The GASB is a private, non-profit organization. It sets the generally accepted accounting principles (GAAP) for U.S. governmental organizations.

But that doesn't mean you can blame them when your town mismanages the funds for the 4th of July picnic, and the only fireworks they can afford are three roman candles and a bunch of sparklers. It's not the GASB's fault. They just set the accounting rules.