GASB Outlook

From the Chairman's Desk

Last fall, we asked stakeholders to participate in a survey to let us know what you think about how we communicate with you—and how we can do it better in the future. In this column, GASB Chair Dave Vaudt shares some of the key things we learned, talks about changes we’re making now, and touches on longer range plans.
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What You Need to Know:
Local Government Investment Pools

Later this year, the GASB plans to issue revised guidance on local government investment pools operated by governments (also known as external investment pools). This guidance is intended to address rule changes recently adopted by the Securities and Exchange Commission that will impact the related financial reporting requirements.
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Five Questions for Martin J. Benison,
Former GASAC Chairman

Martin J. Benison recently announced that he is stepping down as Comptroller of the Commonwealth of Massachusetts. As a result, he also is departing as chair of the Governmental Accounting Standards Advisory Council (GASAC). We asked Marty to reflect on his time with the GASAC, issues of importance, and his years of government service.
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  • From the Chairman's Desk
  • What You Need to Know:
    Local Government Investment Pools
  • Five Questions for Martin J. Benison,
    Former GASAC Chairman

Q&A: How Projects Are Added to the Agenda

This feature addresses the various methods by which standard-setting projects are added to the Board’s current technical agenda—including the reexamination of existing standards and pre-agenda research topics.
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On the Horizon:
Business-Type Activity Governments

In the months ahead, the GASB will issue three proposals intended to improve key areas of financial reporting for governments that engage in business-type activity (BTA). The projects contemplate guidance in three key areas:
  • Asset retirement obligations
  • Split-interest agreements
  • Blending requirements.
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GASB Meeting Topics (July 22-24, 2015)

Coming Soon: Final OPEB Standards

In the coming weeks, the GASB plans to issue final standards on accounting and financial reporting for retiree healthcare benefits (also known as Other Postemployment Benefits or simply “OPEB.” Stay tuned to for more information.

Featured Video

Project Update:
Tax Abatement Disclosures

GASB Calendar