The governmental and non-profit, or not-for-profit, organizations constitute the basis on which the economy of every state is founded. The activities of these organizations should be monitored by society as the development of the latter is dependant on the former. With the recent increase in scrutiny and public demand of their accountability, the requirements for the reporting of the governmental and non-profit organizations have changed, and this paper is a brief account of the major changes. First of all, the pressure of the governmental organizations has been on a sharp increase recently “from decreasing Federal and State funding to already tight budgets; from regulatory compliance to the pressure of public scrutiny” (City Hall, 2009).
The reporting requirements are changed as a result. In 2005 school districts had to report to the local governments and public within ten days after the legislative decision and annually from the moment when such regulation had been adopted. Solid waste disposal districts had 60 days for the same procedure and had to provide their annual reports as well (the State of Wyoming, 2005).
As a contrast, nowadays the governmental and non-profit organizations are under the more serious control introduced by stricter legislations. What is demanded of these organizations today is almost everyday accountability for their local and the central Government and, what is more important, for the society. Keeping taxation records, balance sheets, and other documentation in constant updating, the governmental and non-profit organizations have to report them to mass media or at least provide these data on their Internet pages for public consideration (City Hall, 2009). Thus, governmental and non-profit organizations are under serious pressure now due to the increased public scrutiny caused by economic recession and the financial crisis.
References
- City Hall. (2009). Government/Not-For-Profit.
- The state of Wyoming. (2005). Governmental entities reporting requirements. Web.