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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


Sue Menditto

Senior Director, Accounting Policy


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