This issue of the Advisory describes in brief the principal accounting changes resulting from GASB 68, and considers how official statement disclosure may be impacted.
The accounting standards that apply to financial reporting for governmental pension plans (pension systems) and for the governments that sponsor such pension plans have been significantly revised. Governmental Accounting Standards Board (“GASB”) Statement No. 68, “Accounting and Financial Reporting for Pensions,” (“GASB 68”) became effective for governments for fiscal years beginning after June 15, 2014. As a result, for those governments that maintain a July 1 – June 30 fiscal year, GASB 68 will apply to the financial statements for fiscal year 2015 (July 1, 2014 – June 30, 2015). Such financial statements are now being finalized and audited for many of our governmental clients.
Also of Interest
- Hawkins Elects Alexis Harrington to Partner
Hawkins Delafield & Wood LLP is pleased to announce the election of Alexis Harrington to the partnership, effective January 1, 2019.
- Hawkins Counsel to the 2018 Northeast Deal of the Year
The Authority’s transaction marks the 20th Deal of the Year transaction that Hawkins has participated in the last 16 years.
- Rule 15c2-12 Compliance Alert
This edition of the Hawkins Advisory is a compliance alert, supplementing the Hawkins Advisory regarding Rule 15c2-12 that is dated August 22, 2018.
- Hawkins Attorneys Featured at Bond Attorneys’ Workshop
Four Hawkins attorneys will serve on panels at the National Association of Bond Lawyers 43rd annual Bond Attorneys’ Workshop which will be held September 26-28, 2018 in Chicago.