GASB

The proposed new standard aims to create consistent practice in how conduit issuers report their liabilities.

The expected GFOA guidance will come as governmental units prepare to meet a Jan. 1, 2020 deadline set by the Government Accounting Standards Board for treating all leases as financings for the right to use an underlying asset.

State and local governments in some cases weren’t disclosing terms of direct borrowings, private placements that exposed them to risks different from those related to other types of debt.

GASB seeks comments through Sept. 15.

GASB chair David Vaudt will talk about the importance of the board’s upcoming standards for state and local governments. Hosted by Lynn Hume.