Posts Tagged ‘forum’

New Jersey Localities Falling Through the GAAP

One major difference between Harrisburg, Pa and Union County, NJ is that Harrisburg and the Authority running their incinerator follow Generally Accepted Accounting Principles.  Union County, and most other New Jersey local governing bodies, do not as I learned from Richard Raphael, Executive Managing Director, Fitch Ratings Agency at the Hall Institute’s Forum on the Public Pension Crisis.
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This would have been the guy who gave Union County an AAA bond rating admitting that the finances he was studying were ‘very non-transparent’*.  I asked about that.

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