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GASB Seeks Input on Financial Stress and Dissolution Disclosures

The Governmental Accounting Standards Board (GASB) is seeking public comment on a Preliminary Views document regarding disclosures for severe financial stress and probable dissolution. The document aims to clarify and improve existing guidance on going concern uncertainties and establish new disclosure requirements for governments facing significant financial distress or dissolution.

GASB Proposes Guidance for Statement 103 Financial Reporting

The Governmental Accounting Standards Board (GASB) has proposed new guidance to assist stakeholders in applying Statement No. 103, which addresses financial reporting model improvements. This proposal is open for public comment.

GASB Issues Guidance on Subsequent Events

The Governmental Accounting Standards Board (GASB) has issued Statement No. 105, 'Subsequent Events,' to improve financial reporting requirements for subsequent events. The guidance is effective for fiscal years beginning after June 15, 2026.