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
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
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
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