News and Events

GASB Issues New Fund Balance Reporting Standard
The GASB has issued new standards of accounting and financial reporting that are intended to improve the clarity and consistency of the fund balance information provided to financial report users. GASB Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions, is designed to improve this information by providing clearer, more structured fund balance classifications, and by clarifying the definitions of existing governmental fund types. The GASB developed Statement 54 to address the diversity of practice and the resulting lack of consistency that has evolved in this widely-used area of state and local government financial reports. The new standards establish a hierarchy of fund balance classifications based primarily on the extent to which a government is bound to observe spending constraints upon how resources reported in governmental funds may be used. A news release, plain-language article, and fact sheet on Statement 54 may be accessed through the GASB’s website. Statement 54 (product code GS54) can be ordered through the GASB’s order department at (800) 748-0659 or via its website at www.gasb.org.

User Guide Series Explains State and Local Governments’ Financial Reports in Nontechnical Terms

The GASB’s award-winning User Guide Series introduces the financial reports of state and local governments, including public school districts, using a nontechnical approach. The guides are designed for broad accessibility to anyone from the government finance novice to the seasoned public manager.


What Is the GASB Working on Now?


Upcoming User Organization Events

Mar. 5-6

NABL—National Association of Bond Lawyers
Tax & Securities Law Institute
Orlando, FL

 

 

Mar. 27

GASB—Research manager Dean Mead will present a GASB update at the Mid-Year Meeting of the American Accounting Association’s Government and Nonprofit Section

 

 

May 5-8

NFMA—National Federation of Municipal Analysts
Annual Conference
Seattle, WA

 

 

July 20-25

NCSL—National Conference of State Legislatures
Annual Meeting
Philadelphia, PA

 

 

July 24-29

NACo—National Association of Counties
Annual Conference
Nashville, TN
More Information

 

 

Sept. 24-26

ABFM—Association For Budgeting and Financial Management
Annual Meeting
Washington, DC

 

 

Oct. 28-30

NABL—National Association of Bond Lawyers
Annual Bond Attorney’s Workshop
Phoenix, AZ

 

 

Nov. 10-14

NLC—National League of Cities
Annual Congress of Cities Conference
San Antonio, TX

 

 

View the complete list of GASB speaking engagements