Learn how to implement the statement efficiently in your school district
In January 2017, the Governmental Accounting Standards Board issued Statement No. 84 Fiduciary Activities (GASB 84). The Statement is effective for fiscal years ending in 2020. GASB 84 defines and clarifies fiduciary activities and establishes criteria for identifying those activities with a focus on whether a government is controlling the assets and the beneficiaries with whom the relationship exists.