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Future Accounting Standard Changes(Continued) <br /> A fiduciary component unit,when reported in the fiduciary fund financial statements of a primary government,should <br /> combine its information with its component units that are fiduciary component units and aggregate that combined <br /> information with the primary government's fiduciary funds. <br /> This Statement also provides for recognition of a liability to the beneficiaries in a fiduciary fund when an event has <br /> occurred that compels the government to disburse fiduciary resources. Events that compel a government to disburse <br /> fiduciary resources occur when a demand for the resources has been made or when no further action,approval, or <br /> condition is required to be taken or met by the beneficiary to release the assets. <br /> Effective Date <br /> The requirements of this Statement are effective for reporting periods beginning after December 15,2018, Earlier <br /> application is encouraged. <br /> How the Changes in This Statement Will Improve Financial Reporting <br /> The requirements of this Statement will enhance consistency and comparability by(1)establishing specific offend for <br /> identifying activities that should be reported as fiduciary activities and (2)clarifying whether and how business-type <br /> activities should report their fiduciary activities. Greater consistency and comparability enhances the value provided by the <br /> information reported in financial statements for assessing government accountability and stewardship. <br /> GASH Statement No.85-Omnibus 2017 <br /> Summary <br /> The objective of this Statement is to address practice issues met have been identified during implementation and <br /> application of certain GASB Statements.This Statement addresses a variety of topics including issues related to blending <br /> component units, goodwill, fair value measurement and application, and postemployment benefits(pensions and other <br /> postemployment benefits[OPER]).Specifically,this Statement addresses the following topics: <br /> • Blending a component unit in circumstances in which the primary government is a business-type activity that <br /> reports in a single column for financial statement presentation <br /> • Reporting amounts previously reported as goodwill and'negative"goodwill <br /> • Classifying real estate held by insurance entities <br /> • Measuring certain money market investments and participating interest-earning investment contracts at amortized <br /> cost <br /> • Timing of the measurement of pension or OPEB liabilities and expenditures recognized in financial statements <br /> prepared using the current financial resources measurement focus <br /> • Recognizing on-behalf payments for pensions or OPER in employer financial statements <br /> • Presenting payroll-related measures in required supplementary information for purposes of reporting by OPER <br /> plans and employers that provide DEEB <br /> • Classifying employer-paid member contributions for OPEB <br /> • Simplifying certain aspects of the alternative measurement method for OPEB <br /> • Accounting and financial reporting for OPEN provided through certain multiple-employer defined benefit OPEI <br /> plans. <br /> Effective Date Deople <br /> Ther uirements of this Statement are effective for reporting periods beginning after June 15,2017 +I Vows,;., <br /> Earlier application is encouraged. 1101119 <br /> N-volvill". <br /> 21 Nuffilm" <br /> 164 <br />