What was GASB's decision about the frequency of SEA reporting?

GASB, or the Governmental Accounting Standards Board, established guidelines to improve financial reporting standards for state and local governments. In the context of SEA (Service Efforts and Accomplishments) reporting, GASB’s stance has been to encourage annual reporting of these metrics to provide more timely and relevant information to stakeholders. However, while GASB encourages annual reporting, it does not mandate it as a requirement, leading to the possibility of alternative reporting frequencies that may be applied by different entities.

The absence of a firm requirement for annual or triennial reporting allows for flexibility based on the specific needs and capabilities of the reporting entity. This flexibility indicates that there is no definitive rule that states one reporting frequency is exclusively required. Therefore, the correct answer highlights that none of the provided options fully capture GASB's position on the frequency of SEA reporting.