Statement No. 84, "Fiduciary Activities"

In January 2017, the Governmental Accounting Standards Board (GASB) issued Statement No. 84, “Fiduciary Activities.” The requirements of this Statement are effective for reporting periods beginning after December 15, 2018. For June 30 governments, implementation will begin for the period beginning on July 1, 2019. And for December 31 governments, implementation will begin for the period beginning on December 1, 2019. Of course, earlier application is always encouraged. Why did the...