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Future Accounting Standard Changes - Continued <br />How the Changes in This Statement Will Improve Financial Reporting <br />This Statement will enhance comparability of financial statements among governments by establishing uniform criteria for <br />governments to recognize and measure certain AROs, including obligations that may not have been previously reported. This <br />Statement also will enhance the decision -usefulness of the information provided to financial statement users by requiring <br />disclosures related to those AROs. <br />(1) Note. From GASB Pronouncements Summaries. Copyright 2016 by the Financial Accounting Foundation, 401 Merritt 7, Norwalk, <br />CT 06856, USA, and is reproduced with permission. <br />Restriction on Use <br />This communication is intended solely for the information and use of the City Council, management and the Minnesota Office of the <br />State Auditor and is not intended and should not be used by anyone other than those specified parties. <br />Our audit would not necessarily disclose all weaknesses in the system because it was based on selected tests of the accounting records <br />and related data. The comments and recommendations in the report are purely constructive in nature, and should be read in this <br />context. <br />If you have any questions or wish to discuss any of the items contained in this letter, please feel free to contact us at your convenience. <br />We wish to thank you for the continued opportunity to be of service and for the courtesy and cooperation extended to us by your staff. <br />k' u <br />OWfi 4' <br />ABDO, EICK & MEYERS, LLP <br />Minneapolis, Minnesota <br />June 20, 2017 <br />-23- <br />