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The Bush Doctrine emphasized:
GASB Statement No. 68
A standard issued by the Governmental Accounting Standards Board that establishes accounting and reporting requirements for pensions by state and local governments.
Government's Liability
The obligations that the government is responsible for, often stemming from borrowing, legal claims, or other financial commitments.
Defined Benefit Pension Plans
Retirement plans where the benefits that employees receive are calculated using formulas considering factors like salary history and tenure, rather than depending on investment returns.
Fiduciary Funds
Funds held by an entity in a trustee or agent capacity for others, requiring the entity to manage the funds for the benefit of the parties involved.
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