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GASB Statement No. 84, Fiduciary Activities, (GASB 84) was issued in January 2017 and is effective for reporting periods beginning after December 15, 2018. The principal objective of GASB 84 is to enhance the consistency and comparability of fiduciary activity reporting by state and local governments. This Statement also is intended to improve the usefulness of fiduciary activity information primarily for assessing the accountability of governments in their roles as fiduciaries. The resources on this page have been developed to assist local governments in implementing the requirements of GASB 84.

GASB 84 Fiduciary Activity Resource Guide

This resource was developed with the assistance of the County Audit Work Group. While developed for Minnesota Counties, it provides guidance on the classification of different activities of many local governments. The guide identifies whether or not a financial activity would be reported as governmental or business activities versus fiduciary activities versus not reported at all by the local government.

Example Fiduciary Financial Statements

Example financial statements for fiduciary funds. It includes examples for the basic financial statements, as well as supplementary information.

Example Note for GASB 84 Implementation Restatement

An example of a restatement note for the implementation of GASB 84.

Links to GASB Other Fiduciary Resources

Various information from GASB.

The actual accounting standard.

Questions and answers providing guidance on implementing GASB No. 84

Guidance prepared for school districts by a GASB subcommittee Education finance staff, districts’ financial preparers, CPA firms, and the Office of the State Auditor staff.

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