The Governmental Accounting Standards Board (GASB) is an independent organization that establishes accounting and financial reporting standards for state and local governments. Its mission is to improve transparency, consistency, and accountability in public sector financial reporting. GASB standards are widely followed by government agencies, including the New Mexico State Treasurer’s Office (STO).

 

The Governmental Accounting Standards Board Statement No. 40 (GASB-40) establishes disclosure requirements for investment risks, ensuring transparency and accountability in public funds management. These disclosures provide participating agencies with critical insights into the safety and diversification of their investments.