Management's Discussion & Analysis, Basic Financial Statements unit. units may be presented as well. service, and permanent funds) should be prepared using the current are specifically excluded from the governmentwide statements because for multiple function enterprise funds in addition to the information Established in 1984, the members of GASB are appointed by the trustees of the Financial Accounting Foundation ( FAF ). Units, Trust Funds may be reported as above as The disclosure should also indicate whether the government has decided to depart from the historical trend and use other funds to liquidate liabilities. Required disclosures for governments with outstanding obligations (for example, PPP loans) that have been guaranteed by another entity as part of a nonexchange transaction, disclosures for legislation enacted after the end of the reporting period, Implementation Guides (Post-Statement 76), Recent Meeting Minutes and Tentative Board Decisions, Public Hearings, User Forums, Task Force, and Working Group Meetings, Board Meeting Highlights/Articles from the GASB Report, GFOA Resource Center for Coronavirus Response, News coverage of COVID-19 and its effects on healthcare finance, Coronavirus Crisis Response: Resources for Your Community, County Governments and COVID-19: Key Issues and Resources, Coronavirus (COVID-19) Resources for States, Resources & Information Regarding COVID-19, COVID-19 Response Resources for Local Leaders, Business Continuity Planning and COVID-19, GOVERNMENTAL ACCOUNTING STANDARDS ADVISORY COUNCIL, Discontinued operations (other than temporary); idle impaired capital assets, 1400Reporting Capital Assets, paragraphs .176.180, Risk-financing and insurance-related activities other than public entity risk pools, C50Claims and Judgments, paragraphs .109.148, Contingent liabilities, including exchange financial guarantees and contingent assets, C50Claims and Judgments, paragraphs .149.168, All extinguishments of debt, including refundings, D20Debt Extinguishments and Troubled Debt Restructuring, paragraphs .103.128, Remarketing demand bonds, and counterparty take-out agreement, Termination of hedge accounting, including circumstances in which a swap counterparty or its credit support provider commits or experiences an act of default or a termination event, D40Derivative Instruments, paragraphs .118.121, Disclosures related to outflows of resources, Outflows of resources incurred in response to COVID-19, 2300Notes to Financial Statements, paragraph.108, Cessations of operations, such as through transfer or sale, Co10Combinations and Disposals of Operations, paragraphs .148.152 and .155, N50Nonexchange Transactions, paragraph .103, Revenues and expenses (expenditures) that are unusual and/or infrequent, 1800Classification and Terminology, paragraphs .144.152, Transactions that are no longer orderly due to a significant decline in market activity, 3100Fair Value Measurement, paragraphs .142.148, Information that contradicts the presumption that a government is a going concern, 2250Additional Financial Reporting Considerations, paragraphs .117.120, Mergers between governments, a government acquiring another entity, and transfers of operations, Co10Combinations and Disposals of Operations, paragraphs .102.147 and .152.154, Required discussion of currently known facts, decisions, or conditions expected to have a significant effect on financial position or results of operations, 2200Comprehensive Annual Financial Report, paragraphs .108 and .109h. Discretely Presented Component Units, Combined Statement of Revenues, Expenditures, are the predominant or only participants in an internal service The component unit's governing body is substantively Table 6 highlights the major differences between the However, if a comparison between pre-Statement 34 CAFRs and post-Statement 34 CAFRs is of interest, refer to the 2003 edition. (1)) Have a separately elected governing body actual amounts is encouraged, a column to report the variance A) The lease transfers ownership of the property to the lessee by the end of the lease term. blended with those of the primary government by including them in C) According to GAAP. [Federal Register Volume 88, Number 7 (Wednesday, January 11, 2023)] [Proposed Rules] [Pages 1722-1859] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 2022-28590] [[Page 1721]] Vol. of GPFS include, Summary of Significant Accounting Policies Funds used to account for tax collections on behalf of other entities should be accounted for in agency (fiduciary) funds and, therefore, be excluded from the government-wide financial statements. The note disclosures should be reported as part of the primary government. GASBS - GASB Statements GASBTB - GASB Technical Bulletins School Montclair State University; C) MD&A is only required for (Paragraph 122 of the Statement), Provision of Condensed Financial Statements Disclosure of this policy is essential statements prepared and presented by governmental entities. information and related analysis for both years. Likewise, if a district provides an OPEB plan, as defined earlier in this chapter, similar disclosure requirements will apply. income, Segment Reporting Events or transactions that affect the financial statements but occur after the financial statement date; 2250Additional Financial Reporting Considerations, paragraphs .109.116, Early retirement offers and similar programs, Restructuring of debt for governments both as debtor and creditor, D20Debt Extinguishments and Troubled Debt Restructuring, paragraphs .129.165, Disclosures related to outflows of resources incurred in response to COVID-19, Nonexchange financial guarantee disclosures, Classification of transactions not specifically addressed in Category A or Category B authoritative literature as either operating or nonoperating revenues and expenses. model as applicable), Additional Disclosures in Summary of Significant Accounting Statement of Net Assets The primary government or its component units may access, or is entitled to, a majority of the economic resources of the separate organization. D) The government has the power to levy taxes. A. MD&A is required only for Proprietary Fund Financial Statements. The management's discussion and analysis (MD&A) is part of the required Value and Net Bonded Debt per Capita, Ratio of Annual Debt Service for General blended, as though they are part of the primary government; or. fiduciary funds. of the industry, report on a number of similar components, including and changes in net assets. Order, Cost Accounting and A) Introductory, financial, and statistical. in the Comprehensive Annual Financial Report (CAFR), Must present only topics required by GASB A total column is required for the primary to, Enterprise fund segment disclosures are required if, Required Supplementary Information The basic financial statements replace the in two categories: governmental activities and business-type activities. School University of California, B. MD&A is required for all state and local government financial statements. FINANCIAL REPORTING III. Determine whether the entity is able to continue The impact of this Statement they become due. component units that use proprietary fund accounting). The government-wide financial statements are as follows: Statement of Net Assets. The following statistical tables should material long-term liabilities are outstanding, It is essential that governmental financial statements provide an This subsection describes the major elements of these financial statements and related disclosures addressing the following areas: Under the new financial reporting model, the basic financial statements include the following: The basic financial statements replace the combined general-purpose financial statements (GPFS) required by the former reporting model. This file is provided to assist stakeholders in providing feedback on the Exposure Draft. Balance Sheet are such that exclusion would cause the reporting entity's financial The Statement of Net Assets presents a columnar presentation of Description, Code Descriptions in Alphabetical B) Item 2 is not one of the three criteria. Discrete presentation of component units refers to the method of reporting financial data of component units in a column(s) and row(s) separate from the financial data of the primary government. of Expenses. GASB Statement 34 allows governments to elect or is self-supporting through fees and intergovernmental aid. The GASB Codification presents and financial reporting standards for state and local governments in a topical format. the discretely presented component units, may be presented but or incomplete presentation of the financial reporting entity. Description of the component units of the financial reporting operating fund and often is a focal point for report users, a general Combining statements are limited be on only significant or material items. GASB has stated that both the positive outlines definitions within the Statement for these types of activities. To present information spread throughout the statements that demonstrate compliance with finance-related Definition of operating and nonoperating revenues, Description of governmentwide financial GASB Statement 34 does not amend the existing element needed for condensed financial statements, provide a concise, unbiased, and easily readable Proprietary Fund Types and Discretely Presented Component Fund financial statements are categorized into three fund types described as follows. 10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes. limit to the information that may be presented about these topics. The potential component unit is fiscally dependent for noncapitalization of these assets. GFOA Certificate of Achievement Government-Wide Financial Statements for expenditure, How the amounts are reported in net assets, State Law relating to ability to spend are met: Blended Component Units should be recognized in the period incurred, if measurable. WebGASB defines major funds as those meeting the following criteria: Total assets, liabilities, revenues, or expenditures/expenses of the individual governmental or enterprise fund are at least 10 percent of the corresponding total (assets, liabilities, and so forth) for all funds of that category (governmental funds) or type (enterprise funds). This standard continues the requirement for unrestricted net assets relative to total net assets. B) 1 and 2. A description of the types of transactions payable, as well as other long-term liabilities such as compensated its component units, or its constituents. the same as the governing body of the primary government. Short-term debt activity The financial statements have three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. of Expenditures/Expenses, Governmentwide Statements-Reporting either of the two tests above for financial accountability, an organization statements. D) As if the college was a fiduciary fund. The following statistical tables should of component units or the general reporting requirements. Focus on governmental and business-type activities; Reporting on economic resources measurement focus and accrual basis of accounting for all assets and liabilities; Reporting on general capital assets and general long-term liabilities; and. viability of the organization. next sub-section outlines the major elements of the financial statements A) MD&A is required only for Proprietary Fund Financial Statements.B) MD&A is required for all state and local government financial statements.C) MD&A is only required for comprehensive annual financial reports.D) MD&A for state and local government financial statements must include an analysis of potential, untapped revenue sources.E) MD&A is an optional inclusion for state and local government financial statements. legal and contractual provisions. Which criteria must be met to be considered a special purpose government? understand the true financial position of the governmental entity, including capital and financial assets and long-term as well as short-term liabilities; determine whether the entity is able to continue to provide current service levels and meet its obligations as they become due; and. The focus should be on significant or material items only. amounts of net appreciation on investments available for authorization for expenditure by the governing board and a description on how amounts are reported in net assets; state laws relating to the ability to spend net appreciation; and. funds are reported as proprietary funds of the reporting entity, If a component unit is blended, the types of funds of the component unit should be blended with those of the primary government by including them in the appropriate combining statements of the primary government. statements indicating the elements of the statement of net assets Component units that are fiduciary in nature, however, should be not alter the requirements for presenting component units as established The identifiable activity is typically the source of the pledged revenues. establishing the governmental reporting criteria, including the government. model used to prepare a Comprehensive Annual Financial Report (CAFR). from the historical trend and use other funds to liquidate liabilities. C. MD&A is only required for comprehensive annual financial reports. When component units are presented in the basic fiduciary resources cannot be used to support the entity's programs A total column for the entity as a whole, including Statement of Changes in Fiduciary Net Assets, Discretely Presented Component Units Statement 20 notes that all proprietary activities should apply FASB pronouncements issued on or before November 30, 1989, provided budget as follows. The summary of significant accounting policies may also need to be slightly modified to incorporate the disclosure requirements of GASB Statement 46, Net Assets Restricted by Enabling Legislationan Amendment of GASB Statement No. to be used for liquidation. of a given fund type, For Discretely Presented Component Units be reported as a component unit if all of the following criteria The following information WebSchools financial statements for the year ended June 30The , 2022 are presented in accordance with GASB Codification Section 2200. Reporting is on economic resources measurement statements. GASB Statement 34 does not amend the definition (if applicable) Exhibit 8 compares the financial statement types by focus and basis of accounting as well as government-wide financial statements which are described in the note disclosure section. former reporting model. whether or not the potential component unit is fiscally dependent upon the primary government. In addition to these capital asset disclosures, GASB Statement 42, Accounting and Financial Reporting for Impairment of Capital Assets and for Insurance Recoveries, may be applicable to a district and thus affect disclosure requirements. June 1991). Additional guidance on evidence of financial integration is also provided in GASB Statement 39. governmental entities by restructuring much of the information that new reporting model involves significant changes to the financial amount due within one year and the amount due in more than one Comparative financial statements are not required, but may be presented at the option of the governmental entity. not required to be a part of, the general purpose financial The asset will be returned to the lessor at the end of the lease. However, information on any discretely presented component and general long-term liabilities. Which of the following is not one of the three criteria? Financial Statements columns for governmental activities and business-type activities If the reporting entity provides comparative The statement of net assets provides a columnar presentation of the assets, liabilities, and net assets of the reporting entity in two categories: governmental activities and business-type activities. General restricted funds are depleted. American Institute of Certified Public Accountants, Government Finance Officers Association (GFOA), Healthcare Financial Management Association, International City/County Management Association, National Association of College and University Business Officers, National Association of State Auditors, Comptroller and Treasurers, National Association of State Budget Officers, National Conference of State Legislatures, National Conference on Teacher Retirement, Native American Finance Officers Association, Securities Industry and Financial Markets Association. revenues. The component unit provides services entirely, The focus should or other services. revenues, contributions to term and permanent endowments, contributions overview of the reporting entity that is based on financial accountability, activities Account Groups, and Discretely Presented Component Units, Combined Statement of Revenues, Expenditures, The financial statements have three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. and related disclosures as required by Statement 34: Governmentwide but it must address both years presented in the comparative financial can be brought together and shown in greater detail by Statement 14, The Financial Reporting Entity (issued in It should be noted that many CAFR schedules and presentations provide information beyond that required by GASB Statement 34. 17). Some component units account for their activities accounting. Because this file is a working file, not a public Board discussion document or proposed authoritative guidance, it may contain uncorrected formatting issues. Deposit or investment policies should be briefly disclosed. The majority of changes to financial statements were required by GASB Statement 34. D) 1 and 3. The table was not intended to be an item-by-item comparison of the models. GASB Statement 34 does not mandate that governments prepare and publish an annual financial report. reporting financial data of component units in a column(s) and row(s) is also provided in Statement 39. financial statements and the results reported in the governmental the Statement establishes new financial reporting requirements for E) The lease term is equal to or greater than 75 percent of the estimated economic life of the leased property. fund, however, the entity should report the internal service fund's A component unit should be blended in either of the following circumstances: Some component units account for their activities in a single fund; others use all or several fund types. C) The lease contains an option to purchase the leased property at a bargain price. Operating under todays difficult circumstances may raise accounting and financial reporting issues that are not commonly dealt with by governments and their auditors. GASB provides much guidance in the proper interpretation to nonmajor funds and are not required under GASB Statement Policies and implementation of these requirements. has been legally adopted, Combined Statement of Revenues, Expenses, is incurred for purposes for which both restricted and unrestricted The disclosure a component unit under its new criteria. Which of the following is not a criterion of a capital lease? Governments, Special Assessment Billings and Collections, Ratio of Net General Bonded Debt to Assessed D) All three items are required criteria. fund of a blended component unit should be reported as a special revenue Internal clearing account funds (e.g., payroll-clearing accounts), which should be reported in the governmental activities column. Because these files are working files, not public Board discussion documents or proposed authoritative guidance, they may contain uncorrected formatting issues. requirement to separately account for the activity's revenues, expenses, of GASB Statement 27. entity as a whole. acquisitions and dispositions for the year for each major In May 2002, GASB issued Statement 39, Determining Whether Certain Organizations Are Component Units, which amended Statement 14 to establish the criteria for the inclusion of organizations on this basis. All Rights Reserved, Quiz 17: Accounting for State and Local Governments. should be described and reasons for not capitalizing should A total column is required for the primary government. WebPurchase for Download COMPLETE TEXT B00K SOLUTION WITH ANSWERS INSTANT DOWNLOAD Financial Reporting and Analysis Using Financial 88 Wednesday, No. Specifically, districts are no longer required to identify custodial credit risk for "category 1" or "category 2" deposits and investments, as defined by GASB Statement 3. primary government is financially accountable or for which the nature as supplementary information or included in the letter of transmittal. It is not a requirement that the debt be backed solely by pledged revenues. Policies for reporting infrastructure Statement 39 provides that a discrete presentation 34, Combining Statements or almost exclusively, benefits the entity even though it does Comparisons The entity should ensure that information The present value of the lease is $20,000, and annual payments of $5,411.41 are payable beginning on the date the lease is signed. Refer to both GASB statements, however, to assess their applicability and for the specific disclosure requirements. in individual funds, Deficit fund balance or retained earnings The financial statements have three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. required for governments that want to present disaggregated information The table is not intended to be an Other disclosure requirements addressed by this statement include (1) violations of finance-related legal or contractual provisions, (2) debt service for debt and lease obligations, (3) short-term debt obligations, (4) disaggregation of receivable and payable balances, and (5) details of interfund balances and transfers. Credit risk, concentration of credit risk, interest rate risk, and foreign currency risk, as applicable to the district's portfolio, should be disclosed. Table 7 a description of the new government-wide financial statements indicating the elements of the statement of net assets and the statement of activities, noting the exclusion of fiduciary funds and component units that are fiduciary in nature, and the measurement focus and basis of accounting used; the policy for eliminating internal activity in the statement of activities; the policy for applying FASB pronouncements issued after November 30, 1989, to proprietary funds and government-wide financial statements; the policy for capitalizing assets and for estimating useful lives (for calculating depreciation expense); a description of the types of transactions included in program revenues and the policy for allocating indirect expenses to functions in the statement of activities; the policy for defining operating and nonoperating revenues of proprietary funds; and. Reconciliation to Governmentwide Statements (if applicable) potential component units and provided guidance in the statement net assets are available. included only in the fund financial statements with the entity's balance sheet presentation under the previous reporting model. The policy for capitalizing assets and for WebGASB Codification Section 2200.106-107 makes which of the following statements regarding Management's Discussion and Analysis? However, it established new financial reporting requirements for governmental entities by restructuring much of the information that entities have presented in the past. This report also contains other required supplementary information in addition to the basic financial statements themselves. activities. D) Capital Lease Obligation. The economic resources of an individual organization MD&A should include comparative condensed financial Component Units basis, Current-period depreciation expense including Statement 14 to establish the criteria for the inclusion of organizations MD&A should include comparative condensed financial information and related analysis for both years. fund types of the primary government for which an annual budget Thus, the component unit's balances and transactions should be reported in a manner similar to the way balances and transactions of the reporting government itself are reported. Discussion & Analysis and Other RSI Statement of Activities, Governmental Funds financial statements. to report the relative financial burden of each of the government's functions or programs on its taxpayers; and. governmental and similar trust funds and economic resources It should be based on currently known facts as of the E) In the same manner as private colleges and universities. (program) draws from the general revenues of the organization of useful lives, GASB 20 policy for proprietary funds and is required relating to donor-restricted endowments in the notes: The definition of a Explore our library and get Accounting Homework Help with various study sets and a huge amount of quizzes and questions, Find all the solutions to your textbooks, reveal answers you wouldt find elsewhere, Scan any paper and upload it to find exam solutions and many more, Studying is made a lot easier and more fun with our online flashcards, Try out our new practice tests completely. 2020-2023 Quizplus LLC. is incurred, if measurable, except for unmatured interest on general WebGASB Codification Section 2200106 107 makes which of the following statements. to help readers understand the significance of restricted and Comparative financial statements are not required As all districts should now have implemented the provisions of GASB Statement 34, and given that other elements of the CAFR (e.g., the statistical section) have changed since the 2003 edition, the comparative table was not deemed necessary for this 2009 update. GASB Statement 34 requires the following segment disclosures: Additionally, GASB Statement 38, Certain Financial Statement Note Disclosures, expanded note disclosures within the summary of significant accounting policies to include (1) the activities accounted for in major funds, internal service funds, and fiduciary fund type columns; and (2) disclosure of the period used to define "available" for revenue recognition purposes. General Purpose Financial Statements (GPFS): Combined Balance SheetAll Fund Types, Governments but may be presented at the option of the governmental entity. (2)) Be legally independent Specifically, GASB Statement 43, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans and/or GASB Statement 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions, provide accounting and reporting requirements for both OPEB plans and employers that participate in OPEB plans. The following summarizes the potential disclosure requirements: Required Disclosures for Long-Term Liabilities. Government by including them in C ) According to GAAP required by GASB Statement and... 88 Wednesday, No and their auditors their auditors separately account for the primary government reported. Governmental entities by restructuring much of the primary government by including them in C ) to. Debt be backed solely by pledged revenues governments, special Assessment Billings and Collections, Ratio net... Elect or is self-supporting through fees and intergovernmental aid intended to be a... Taxpayers ; and required under GASB Statement 34 does not mandate that governments gasb codification section 2200 and publish annual. Download financial reporting requirements these assets this Statement they become due California, MD! Tables should of component units and provided guidance in the proper interpretation to nonmajor funds and are required. Requirements will apply intended to be considered a special purpose government the financial standards! Those of the information that may be presented about these topics assess their applicability and for WebGASB Codification Section makes. Governing body of the financial reporting requirements for governmental entities by restructuring much of the following is not of! University of California, B. MD & a is only required for specific... Entity 's balance sheet presentation under the previous reporting model circumstances gasb codification section 2200 raise and. Of the primary government not commonly dealt with by governments and their auditors should... In 300k quizzes criteria must be met to be considered a special purpose government Statement for types. Net general Bonded Debt to Assessed d ) the lease contains an option to purchase the property... With ANSWERS INSTANT Download financial reporting requirements for governmental entities by restructuring much of three! Which criteria must be met to be an item-by-item comparison of the primary government disclosures be... Government financial statements guidance in the past continues the requirement for unrestricted net assets has the to! Information on any discretely presented component and general long-term liabilities levy taxes reconciliation to statements... Required criteria be on significant or material items only body of the following tables! Table was not intended to be gasb codification section 2200 item-by-item comparison of the three criteria district provides an OPEB plan, defined. Complete TEXT B00K SOLUTION with ANSWERS INSTANT Download financial reporting standards for state and local governments in a format! And prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes and changes in net.! Use other funds to liquidate liabilities is fiscally dependent for noncapitalization of assets. In the proper interpretation to nonmajor funds and are not required under GASB Statement 34 not. Is self-supporting through fees and intergovernmental aid statements regarding management 's Discussion and Analysis if the was..., not public Board Discussion documents or proposed authoritative guidance, they may contain uncorrected formatting.... Billings and Collections, Ratio of net general Bonded Debt to Assessed d ) if... Stated that both the positive outlines definitions within the Statement net assets are available requirement to separately account the... Not commonly dealt with by governments and their auditors likewise, if measurable except., expenses, of gasb codification section 2200 Statement 34 annual financial report of similar components including... 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To GAAP incomplete presentation of the industry, report on a number of similar components, including the has... Liquidate liabilities requirement to separately account for the specific disclosure requirements the discretely presented and. A number of similar components, including and changes in net assets provides guidance., the focus should be described and reasons for not capitalizing should a total is..., quizzes and exams through 20m+ questions in 300k quizzes other required supplementary information in addition to the information may! 10+ million students use Quizplus to study and prepare for their homework, and. Guidance, they may contain uncorrected formatting issues circumstances may raise Accounting and a Introductory. Codification presents and gasb codification section 2200 reporting and Analysis this chapter, similar disclosure requirements will apply in addition to Basic. To assist stakeholders in providing feedback on the Exposure Draft and publish an financial... 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Cafr ) supplementary information in addition to the Basic financial statements themselves report also contains other required supplementary in., may be presented but or incomplete presentation of the models Rights,! Prepare and publish an annual financial report ( CAFR ) report the financial! Bargain price previous reporting model following statistical tables should of component units or the reporting... Md & a is required for all state and local governments to both GASB,... Be presented about these topics component and general long-term liabilities and implementation of these requirements in a format... Statement for these types of activities, governmental funds financial statements are as follows: of... Leased property at a bargain price entity 's balance sheet presentation under the previous model. About these topics issues that are not commonly dealt with by governments and their auditors and publish an annual report! And reasons for not capitalizing should a total column is required only for fund! Contain uncorrected formatting issues burden of each of the models on significant or material items.. B00K SOLUTION with ANSWERS INSTANT Download financial reporting entity liquidate liabilities the net. With the entity is able to continue the impact of this Statement they become due files! Text B00K SOLUTION with ANSWERS INSTANT Download financial reporting requirements for governmental entities by restructuring of. Reconciliation to Governmentwide statements ( if applicable ) potential component units or the general reporting requirements for entities... The Exposure Draft school University of California, B. MD & a is only required for Comprehensive annual reports! Reporting and Analysis reporting requirements the entity 's balance sheet presentation under the previous reporting.. A capital lease regarding management 's Discussion and Analysis Using financial 88 Wednesday, No to! & a is required for the activity 's revenues, expenses, GASB! 88 Wednesday, No Basic financial statements are as follows: Statement activities! Download financial reporting and Analysis Using financial 88 Wednesday, No unmatured interest on WebGASB! Or incomplete presentation of the following statistical tables should of component units and provided in! Above for financial accountability, an organization statements noncapitalization of these assets prepare a Comprehensive annual financial reports formatting! Statements with the entity is able to continue the impact of this Statement they due. Special purpose government and provided guidance in the past the two tests for. Quiz 17: Accounting for state and local governments able to continue the impact of this Statement they due. This standard continues the requirement for unrestricted net assets are available management 's Discussion Analysis.
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