Skip to content Menu

The Governmental Accounting Standards Board (GASB) has issued Implementation Guide No. 2019-02, Fiduciary Activities, to assist with implementing Statement No. 84, Fiduciary Activities. The guide contains sample questions and answers that are designed to provide insight and direction for governmental reporting entities, such as public colleges and universities. Statement 84 is effective in FY20 for the vast majority of public institutions.

The questions and answers contained in the Implementation Guide have been exposed for public comment and cleared by GASB, and as a result constitute Category B authoritative guidance under Generally Accepted Accounting Principles. The implementation guide covers topics such as:

  • Identifying fiduciary activities
  • Own-source revenue
  • Reporting fiduciary activities
  • Fiduciary component units
  • Custodial funds
  • Business-Type Activity exceptions
  • Pension and OPEB arrangements
  • Investment trust funds

Contact

Sue Menditto

Senior Director, Accounting Policy

202.861.2542


Related Content

GASB Seeks Assistance to Evaluate Compensated Absences

The Governmental Accounting Standards Board is asking financial statement preparers to take a short survey on compensated absences to help inform their pre-agenda research.

GASB Proposal Updates Section 457 Plan Guidance

A new exposure draft attempts to clarify that Section 457 deferred compensation plans meet the definition of a pension plan and thus may have pension accounting and financial reporting requirements. Comments are due September 27.

New NACUBO Accounting Advisory Available

Advisory 19-02 addresses tuition and residential revenue and why such contracts with students typically would not be combined under Topic 606, Revenue from Contracts with Customers.