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Summaries / Status

Interpretations

Each Interpretation of the Governmental Accounting Standards Board listed below, contains a link to the Summary of the pronouncement and to information on the status of that document. Status information includes the most recently issued documents. 

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GASB Interpretation No. 6
Recognition and Measurement of Certain Liabilities and Expenditures in Governmental Fund Financial Statements—an interpretation of NCGA Statements 1, 4, and 5; NCGA Interpretation 8; and GASB Statements No. 10, 16, and 18

Effective date:

Coincides with the effective date of Statement 34 for the reporting government. That is, the requirements of this Interpretation are effective in three phases based on a government’s total annual revenues in the first fiscal year ending after June 15, 1999:

  • Phase 1 governments-with annual revenues of $100 million or more-should apply the requirements of this Interpretation in financial statements for periods beginning after June 15, 2001.
     
  • Phase 2 governments-with total annual revenues of $10 million or more but less than $100 million-should apply the requirements of this Interpretation in financial statements for periods beginning after June 15, 2002.
     
  • Phase 3 governments-with total annual revenues of less than $10 million-should apply the requirements of this Interpretation in financial statements for periods beginning after June 15, 2003. 

This Interpretation should be simultaneously implemented with Statement 34. Earlier application is encouraged, if done in conjunction with early adoption of Statement 34.

(March 2000)
[Summary]  [Status] 

GASB Interpretation No. 5
Property Tax Revenue Recognition in Governmental Funds--an interpretation of NCGA Statement 1 and an amendment of NCGA Interpretation 3
Effective date beginning after: June 15, 2000
(November 1997)
[Summary]  [Status] 

GASB Interpretation No. 4
Accounting and Financial Reporting for Capitalization Contributions to Public Entity Risk Pools--an interpretation of GASB Statements No. 10 and 14
Effective date beginning after: June 15, 1996
(February 1996)
[Summary]  [Status] 

GASB Interpretation No. 3
Financial Reporting for Reverse Repurchase Agreements--an interpretation of GASB Statement No. 3
Effective date beginning after: December 15, 1995
(January 1996)
[Summary]  [Status] 

GASB Interpretation No. 2
Disclosure of Conduit Debt Obligations--an interpretation of NCGA Statement 1
Effective date beginning after: December 15, 1995
(August 1995)
[Summary]  [Status] 

GASB Interpretation No. 1
Demand Bonds Issued by State and Local Governmental Entities--an interpretation of NCGA Statement 1 and NCGA Interpretation 9
Effective date ending after: June 15, 1985 (with exceptions)
(December 1984)
[Summary]  [Status]