The Institute for Truth in Accounting Awarded $100,000 Grant

Study Will Reveal How Much Financial Trouble the States Are Truly In

Northbrook, IL - - - The Institute for Truth in Accounting has received a grant from the Searle Freedom Trust.\240 This grant represents the second major association between the Institute for Truth in Accounting and the Searle Foundation.\240 In awarding the grant the Trust's President noted, "The board is very impressed with the first phase of the project and they are delighted to be able to continuing funding work they believe is of vital importance".

Sheila Weinberg, founder of the Institute, says "It is indeed an honor and deeply gratifying to be recognized by such a patriotic and forward thinking organization for the important work that we are doing. By funding the second phase of the Institute's 50 State Project Searle will enable the Institute to develop and provide accurate and honest evaluations of each state's fiscal position. This information will enable citizens and their representatives alike a better understanding of each individual state's true fiscal position. The Institute's desire is to provide a basis upon which all interested parties can reach an informed decision on the best fiscal policy vis--vis budget for each of the United States."

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About the Institute for Truth in Accounting

The Institute for Truth in Accounting (IFTA) is dedicated to promoting honest, accurate, and transparent accounting at all levels of government. As a non-partisan, non-profit organization, the IFTA works to expose accounting deficiencies while promoting better, more accessible delivery of accurate government financial data-and, in turn, providing a foundation for more informed public policy. The IFTA provides its expertise to develop more effective accounting standards and deliver accurate government financial information to policymakers, opinion leaders, and citizens so that they can work for a more secure financial future. To learn more, please visit our website at