GASB issues three new statements and sea proposal.

Summary

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Governmental Accounting Standards Board

The Governmental Accounting Standards Board (GASB) has released final statements on accounting standards for Pell grants, closed municipal landfills and proprietary funds in an effort to bring more accountability to the spending of public funds. The 30-year post-closure maintenance requirements for landfills are to be included in current cost estimates. Pell grants are to be reported in a restricted current fund and proprietary fund accounting should employ GASB standards.

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Extract

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GASB issues three new statements and sea proposal.

The Government Accounting Standards Board, in a surge of activity, issued final statements on three disparate issues--accounting for closed municipal landfills, university Pell grants and proprietary funds. It also exposed for comment a proposal for mea...

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