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GASB

Mintz

Republican SEC Commissioners Telegraph Continued Opposition to Climate Disclosure Rules

Mintz on

Last week, the two Republican Commissioners of the SEC availed themselves of the opportunity presented by the ability to comment on the Financial Accounting Foundation's Strategic Plan Draft for Public Comment to again voice...more

Haynsworth Sinkler Boyd, P.A.

HSB Economic Development Update - June 2022

The HSB Economic Development team published their June 2022 news update, highlighting the following topics: Big Changes to South Carolina Property Taxes and Incentives- The big political news in South Carolina this June...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Articles on the SEC's Plan to Review Climate-Change Disclosures and Clarity From...

SEC/CORPORATE - Acting SEC Chair Issues Statement on Climate-Change Disclosures - On February 24, acting Chair of the Securities and Exchange Commission Allison Herren Lee issued a statement that she has directed the...more

Ballard Spahr LLP

GASB Requires Public Entities to Make Room in the Debt Column for Availability Payment-Based P3 Projects

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For those interested in availability payment (AP) or service payment structures for public-private partnerships (P3s), June 15, 2020, was an important day despite lack of fanfare....more

Ballard Spahr LLP

Governmental Accounting Standards Board Proposes Updated P3 Guidelines

Ballard Spahr LLP on

The primary objective of the guidelines is to improve financial reporting by addressing issues related to P3s and APAs. The guidelines provide uniform guidance on accounting and financial reporting for transactions that meet...more

Miller Canfield

GASB 84: Legal Considerations for Public Schools in Michigan

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With the July 1, 2019 implementation date fast approaching for the new GASB 84 accounting guidance for fiduciary activities, school districts in Michigan have been working through various issues which have arisen in the...more

Carlton Fields

New Florida Law: Assessing Benefit Plan Costs for New Cancer Benefits Owed to Florida’s Bravest

Carlton Fields on

This alert focuses on Florida governmental entities that provide benefits to firefighters. Newly adopted Florida Statutes chapter 112.1816, scheduled to go into effect July 1, 2019, provides additional minimum benefits to...more

Orrick, Herrington & Sutcliffe LLP

NABL Bond Attorneys' Workshop - Notes and Impressions

On September 26-28 the National Association of Bond Lawyers held an annual gathering called the Bond Attorneys' Workshop, which consisted of a series of subject-specific meetings discussing topics in municipal finance. Most...more

Orrick, Herrington & Sutcliffe LLP

GASB Statement No. 88 Defines Debt and Increases Disclosure Requirements for Government Financial Statements

The Governmental Accounting Standards Board issued GASB Statement No. 88 (the "Statement") in March 2018. The Statement requires increased disclosure in notes to financial statements of all state and local governments. The...more

Bricker Graydon LLP

Local governments need more transparency for tax abatements, report says

Bricker Graydon LLP on

New rules by the nonprofit Governmental Accounting Standards Board [GASB] “can encourage local governments to be more transparent regarding their tax abatements,” says a report by Policy Matters Ohio, according to a recent...more

Haynsworth Sinkler Boyd, P.A.

GASB 77 - What Is It, And How Can We Prepare?

What is GASB 77 and why does it exist? GASB 77 is an accounting pronouncement applicable to the financial statements of state and local governments. In order for their financial statements to be prepared in accordance with...more

Burr & Forman

South Carolina FILOT Taxpayers Now Required to File a New Property Tax Return with the County Auditor

Burr & Forman on

The April 30th deadline for the calendar year South Carolina taxpayers to file their annual Form PT-300, Property Return, is fast approaching. Taxpayers subject to a fee-in-lieu of tax (FILOT) must file a new schedule with...more

Katten Muchin Rosenman LLP

Corporate and Financial Weekly Digest - Volume XII, Issue 12

BROKER-DEALER - FINRA Issues Regulatory Notice on GASB Accounting Support Fee - The Financial Industry Regulatory Authority announced that it will collect a total of $8,309,000 in 2017 from its member firms as part...more

Parker Poe Adams & Bernstein LLP

New Governmental Accounting Standards Board (“GASB”) Rules Require Governments to Disclose Tax Abatement Agreements in Financial...

State and local governmental entities (“Governments”) nationwide will soon face new financial statement disclosure requirements regarding existing tax incentive agreements. While the GASB encourages Governments to begin...more

Alston & Bird

GASB Issues Final Rule on Financial Reporting of Tax Abatements

Alston & Bird on

On August 15, 2015, the Government Accounting Standards Board (GASB) issued Statement No. 77 (the “Tax Abatement Standard”) concerning financial reporting of tax abatements and other economic development incentives that...more

McDermott Will & Emery

Should Companies Adjust Their Incentive Strategies in Light of New Governmental Accounting Disclosure Requirements?

McDermott Will & Emery on

Earlier this month, the Governmental Accounting Standards Board (GASB) approved Statement No. 77, Tax Abatement Disclosures, which requires state and local governments to report on foregone revenue from tax abatement...more

Nexsen Pruet, PLLC

Maybank on the Government Accounting Standards Board issued Statement No. 77, Tax Abatement Disclosures - Tax and Economic...

Nexsen Pruet, PLLC on

Today, August 15, 2015, the Government Accounting Standards Board issued Statement No. 77, Tax Abatement Disclosures. It will generate quite a bit of work for local government. In fact, it may force counties to organize...more

Franczek P.C.

GASB Changes Governmental Entity Accounting Disclosure Rules for Retiree Health Benefits

Franczek P.C. on

The General Accountability Standards Board (GASB) recently issued new standards that govern the disclosure of post-employment benefits in financial statements. Specifically, new GASB standards require state and municipal...more

Franczek P.C.

Monthly Benefits Alert - June 2015

Franczek P.C. on

Supreme Court - As explained in more detail in separate alerts we issued over the past several days, the Supreme Court decided two major cases involving the Affordable Care Act and same-sex marriage. First, as described...more

Bradley Arant Boult Cummings LLP

New Accounting Standards Could Profoundly Impact Incentives Transparency

Executive Summary - The Governmental Accounting Standards Board (“GASB”) has issued an exposure draft of a proposed statement (the “Statement”). The Statement, for the first time, would set uniform minimum disclosure...more

Ballard Spahr LLP

Government Finance Officers Association Issues Guidelines For Pension Funding

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As market regulators press for stricter reporting guidelines for state and local governments concerning pension disclosure in public offerings, the Government Finance Officers Association (GFOA) is advocating that funding...more

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