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. [...]
In May 2004, GASB issued GASB Statement No. 44, Economic Condition Reporting: the Statistical Section. GASB No. 44 significantly changes the content and presentation of the information repOlied in the statistical section of a Comprehensive Annual Financial Report (CAFR).
The Governmental Accounting Standards Board (GASB) issued Statement 27 (November 1994) to establish measurement, recognition, and display standards for pension expenditures/expense and related liabilities, assets, note disclosures, and, if applicable, required supplementary information in the financial reports of state and local governmental employers. Reporting requirements for pension trust funds of employers are included in [...]
One of the most significant transactions occurring between California cities and their redevelopment agencies is loans (or advances) from the City to the redevelopment agency. Millions of dollars in loans are made and repaid each year subject to a variety of loan repayment provisions. As a result, questions have arisen regarding the accounting and financial [...]
In 1991, the League of California Cities presented in its publication entitled Article XIII-B Appropriations Limitation Uniform Guidelines an example of the wording recommended by the League to be used to report the performance of certain procedures applied to the computation of the statutory appropriation limitation. In 1997, the form of reporting for such engagements [...]