OSCPA testifies on bill to give Ohio long range financial outlook

Mar 29, 2012

OSCPA Executive Board Chair Jim Gottfried, CPA testified this week in support of legislation requiring a long-range financial outlook for Ohio.

The legislation, HB 368, would create a Long-Range Financial Outlook Council made up of financial experts. The proposed body would be charged with developing an annual report on Ohio’s financial outlook looking forward four years. The bill is currently before the House Finance & Appropriations Committee.

“Having a regularly updated Long-Range Financial Outlook report that projects out over the coming four years, is prepared by an impartial group of government and private sector experts, and is available to anyone who wants to take advantage of the information makes good sense,” Gottfried said in his testimony.

The legislation is yet another example of OSCPA recommendations coming to fruition. Along with several other suggestions, such as performance audits, streamlining of government services and strategic planning, requiring a long-range financial outlook was in OSCPA’s Budget Advisory Task Force Report.