CT HB05811

Amends sections 2-36b, 3-115b and 4-66 of the general statutes to require dual reporting using both current processes and generally-accepted accounting principles (GAAP).

Requires the Comptroller to submit monthly letters to the Governor, annual reports, and comprehensive annual financial reports using both current and GAAP accounting methods.

Requires the Secretary of the Office of Policy and Management to submit cumulative monthly statements and required information to the State Comptroller using both current and GAAP accounting methods.

Requires the Director of the Office of Fiscal Analysis to submit required information and budget projection reports using both current and GAAP accounting methods.

Directs the state to begin implementing GAAP accounting standards through this dual reporting requirement.