Position Paper: Implementation of GASB 84 Fiduciary Activities
The MGFOA Standards Committee has published a position paper related to Implementation of GASB 84 Fiduciary Activities.
GASB 84 introduces a new concept to governmental financial statements: fiduciary activities. Historically, the GASB had defined governmental activities, and business-type activities, each of which are separately displayed in the government-wide financial statements. However, there was no similar definition for fiduciary activities, as the fiduciary funds are not displayed in the government-wide financial statements and are only presented in the fund financial statements.
Members: Log in and navigate to the RESOURCES page of the site for the complete position paper.