![]() Authoritative GAAP included in Category A and B are periodically incorporated in the Codification of Governmental Accounting and Financial Reporting Standards.ģ.1.2.40 In the absence of specific treatment within Category A or B, the state and local governmental entities may consider nonauthoritative accounting literature, but only after consideration is made for a similar transaction or event within Category A or B. Category B: GASB Technical Bulletins, GASB Implementation Guides and, if specifically made applicable to state and local governmental entities by the American Institute of Certified Public Accountants (AICPA) and cleared by the GASB, AICPA literature.Category A: Officially established accounting principles – Governmental Accounting Standards Board (GASB) Statements and Interpretations.If an accounting treatment is not specified in Category A, a government should consider if it is specified in Category B: AICPA – American Institute of Certified Public Accountantsģ.1.2.20 The GASB Statement 76, The Hierarchy of Generally Accepted Accounting Principles for State and Local Governments promulgates the GAAP hierarchy for state and local governments.ģ.1.2.30 The GAAP hierarchy, as prescribed by the GASB Statement 76, has two categories of sources of accounting principles.GASB – Governmental Accounting Standards Board.Open Required Supplementary Information (RSI) sub menuģ.1 Accounting Principles and Internal Controlģ.1.2.10 There are two primary authoritative sources of generally accepted accounting principles (GAAP) for local governments: ![]() Note X – Violation of Finance-Related Legal and Contractual Provisions.Note X – Unique and Unusual Transactions.Note X − Third Party Contractual Agreements.Note X – Subscription Based Information Technology Arrangements (SBITA).Note X – Service Concession Arrangements.Note X – Risk Pools – Risk Financing Limits.Note X – Risk Pools – Members’ Supplemental Assessments and Credits.Note X – Risk Pools – Excess Insurance Contracts/Reinsurance.Note X – Risk Management (for participating member of pool).Note X – Restricted Component of Net Position.Note X – Reconciliation of Government-Wide and Fund Financial Statements.Note X – Receivable and Payable Balances.Note X – Public-Private and Public-Public Partnerships (Transferor).Note X – Public-Private and Public-Public Partnerships (Operator).Note X – Pollution Remediation Obligations.Note X – Pledges and Sales of Future Revenues.Note X – Pensions – State Sponsored (DRS) Plans.Note X – Pensions - Defined Benefit Plans - Qualifying Trust.Note X – Pensions - Defined Benefit Plans – No Qualifying Trust.Note X – Pension and/or OPEB Plans - Nongovernmental Plans.Note X – Pension and/or OPEB Plans - Defined Contribution.Note X – Paid Family Medical Leave Act Self-Insurance.Note X – OPEB Defined Benefit Plan - Qualifying Trust.Note X – OPEB Defined Benefit Plan - No Qualifying Trust.Note X – Interfund Balances and Transfers.Note X – Extraordinary and/or Special Items.Note X – External Investment Pool (Counties Only).Note X – Construction and Other Significant Commitments.Note X – Closure and Postclosure Care Cost.Note X – Changes in Long-Term Liabilities.Note X – Asset Retirement Obligations (ARO).Note X – Accounting and Reporting Changes.Note 1 – Summary of Significant Accounting Policies.Coming in Fiscal Year 2024 (GAAP and Cash).Coming in Fiscal Year 2023 (GAAP and Cash).Use of Deadly Force Investigation Reports.
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