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
- Municipal Market — Federal Securities Law Update (2022)
This Hawkins Advisory provides an update on the municipal securities market and related federal securities law regulation. In particular, this Advisory reviews (i) the current composition of the Securities and Exchange Commission (the “SEC”) and its regulatory priorities; (ii) the SEC’s proposed rules on climate change disclosure and other environmental, social, and governance (“ESG”) initiatives; (iii) developments in cybersecurity disclosure; and (iv) recent SEC enforcement actions in the municipal securities market.
- Hawkins Served as Counsel to Two Bond Buyer Deal of the Year Winning Transactions
Hawkins is proud to have served as special and lead outside counsel on two financings that were finalists for The Bond Buyer deal of the year award for 2021 and winners in their respective categories. This year’s deals reflect the substantial expertise of Hawkins’ transportation industry attorneys.
- Brian Garzione co-authored NABL’s SEC Comment Letter on Climate Change Disclosures
As the Chair of NABL’s Securities Law and Disclosure Committee, Brian was one of the principal authors of NABL’s comment letter relating to the SEC’s public statement and request for public input on climate change disclosures.
- Brian Garzione co-authors the Supplement to NABL’s Crafting Disclosure Policies
Brian was a key participant in preparing a supplement to NABL’s Crafting Disclosure Policies.