[Verse 1] Federal crown sits at the summit, Parliament's watchful eye Provinces dance their fiscal ballet, each with rules that multiply Cities, towns, and school boards scattered, local treasures gleaming bright Three tiers spinning separate stories in the governmental night [Chorus] F-P-L, Federal Provincial Local Users need their info vocal PSAB standards guide the way Citizens and creditors weigh Taxpayers, legislators too Service recipients pursue Oversight and rating agencies Government transparency [Verse 2] Federal giants track the billions, debt and surplus mountains high Provincial health and education, infrastructure reaching sky Municipal water, roads, and transit, special purpose funds combined Each entity speaks different languages but truth is what they find [Chorus] F-P-L, Federal Provincial Local Users need their info vocal PSAB standards guide the way Citizens and creditors weigh Taxpayers, legislators too Service recipients pursue Oversight and rating agencies Government transparency [Bridge] Budgetary versus full accrual Financial position's perpetual renewal Operating fund and capital assets Performance measures, statistical vignettes [Verse 3] Bond holders scrutinize the numbers, credit ratings on the scale Auditor General's recommendations, public interest cannot fail Inter-governmental transfers flowing, grant conditions must align Consolidated entity reporting, subsidiary design [Chorus] F-P-L, Federal Provincial Local Users need their info vocal PSAB standards guide the way Citizens and creditors weigh Taxpayers, legislators too Service recipients pursue Oversight and rating agencies Government transparency [Outro] Public sector, public trust Financial statements are a must Accountability's the golden thread Through government's financial spread
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