My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
05-28-24-R
ArdenHills
>
Administration
>
City Council
>
City Council Packets
>
2020-2029
>
2024
>
05-28-24-R
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
7/9/2024 10:02:52 AM
Creation date
6/14/2024 8:10:09 AM
Metadata
Fields
Template:
General
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
363
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
GASB STATEMENT No. 102, CERTAINRisKDIsCLosuREs <br />The objective of this statement is to provide users of government financial statements with essential <br />information about risks related to a government's vulnerabilities, due to certain concentrations or <br />constraints. <br />This statement defines a concentration as a lack of diversity related to an aspect of a significant inflow of <br />resources or outflow of resources. A constraint is a limitation imposed on a government by an external <br />party or by formal action of the government's highest level of decision -making authority. Concentrations <br />and constraints may limit a government's ability to acquire resources or control spending. <br />A government will be required to assess whether a concentration or constraint makes the primary <br />government reporting unit or other reporting units that report a liability for revenue debt vulnerable to the <br />risk of a substantial impact. Additionally, a government must assess whether an event or events associated <br />with a concentration or constraint that could cause the substantial impact have occurred, have begun to <br />occur, or are more likely than not to begin to occur within 12 months of the date the financial statements <br />are issued. <br />If a government determines that those criteria for disclosure have been met for a concentration or <br />constraint, it should disclose information (as outlined in the standard) in notes to financial statements in <br />sufficient detail to enable users of financial statements to understand the nature of the circumstances <br />disclosed and the government's vulnerability to the risk of a substantial impact. <br />The requirements of this statement are effective for fiscal years beginning after June 15, 2024, and all <br />reporting periods thereafter. Earlier application is encouraged. <br />-20- <br />
The URL can be used to link to this page
Your browser does not support the video tag.