In March 2003, GASB issued GASB Statement No. 40, Deposit and Investment Risk Disclosures. GASB No. 40 is effective for periods beginning after June 15, 2004 (i.e., years ending June 30, 2005 or later). GASB No. 40 adds to and changes certain of the financial statement disclosure requirements for cash and investments of local governments. The purpose of this white paper is assist local governments in California by offering offer several California-specific examples of a cash and investment footnote that incorporate the application of GASB No. 40.
Download: WPGASB40-05.pdf