Transparency & Disclosures: Tax Abatements Go Viral with GASB 77

By Miller Edwards Introduction and Overview  In GASB’s 15th year during the summer of 1999, GASB issued Statement No. 34, Basic Financial Statements – Management’s Discussion and Analysis – for State and Local Governments which was considered to be the ultimate “be all, end all” standard for governmental financial reporting.  During 2015 and early 2016, GASB issued another nine (9) pronouncements bringing the grand total up to 80 pronouncements representing 46 new...



ACCG Webinar April 12, 2016 (10:00 - 11:30 AM): New Local Government Financial Disclosure Requirements for Economic Development Tax Incentives (GASB 77)

ACCG Webinar: New Local Government Financial Disclosure Requirements for Economic Development Tax Incentives April 12, 2016 10:00 – 11:30 a.m. Have you agreed to any tax "abatement agreements"? Or, were your tax revenues affected by somebody else's tax abatement agreement?  Even if you didn't consent - and even if you didn't know… big changes were made to governmental accounting standards, affecting data collection, compliance, intergovernmental relations, the environment for...