[CAFR-Contacts-News] GASB 84 Fiduciary Activities Training - Save the Date (May 23)

[CHASE Stacey A * DAS]

Good afternoon.

The Government Accounting Standards Board (GASB) issued statement 84 which establishes criteria for identifying fiduciary activities and provides guidance on reporting those activities. The new reporting requirements take effect July 1, 2019.

In preparation for GASB 84 implementation, agencies need to evaluate all activities associated with the agency holding funds on behalf of individuals or other entities. Agencies need to ensure accounting profiles are capable of recording revenues and expenditures associated with fiduciary activities.

In the event the agency needs a new SFMA appropriation profile (D20), please send an appropriation profile request to orbits.help at state.or.us<mailto:orbits.help at state.or.us> that includes the following information:

*         Trust/custodial fund subject to GASB 84

*         Authority to be non-budgeted

*         Current D23 fund


Save the date! SARS will be providing GASB 84 implementation training on May 23, 2019. Registration will be available in iLearn soon. We look forward to seeing you in May.
s

Stacey A. Chase
Senior Financial Reporting & Policy Analyst
Chief Financial Office
Department of Administrative Services
Phone: (503) 947-8567
https://www.oregon.gov/das/financial/acctng/pages/index.aspx

Data Classification: Level 1 - Published


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