GASB definition
Examples of GASB in a sentence
Feedback and commentary for inaccurate or unexpected data will be provided as necessary • Preparation of a comprehensive annual report / actuarial valuation • Disclosures as required by GASB 75 • Interim GASB 75 report FYE 12/31/2024 – Full GASB 75 Actuarial Valuation $11,000 FYE 12/31/2025 – Interim GASB 75 Actuarial Valuation $3,600 If a GASB results breakdown by employee groups is required additional fees will apply.
OP’s annual financial reports will be provided to the District in Governmental Accounting Standards Board (GASB) format and its monthly financial reports will be provided in Financial Accounting Standards Board (FASB) format.
The fee for the interim GASB 75 report will be revised if there have been any significant events subsequent to our last full update.
Accounting principles generally accepted in the United States of America, (U.S. GAAP,) as promulgated by the Governmental Accounting Standards Board (GASB) require that supplementary information, such as management’s discussion and analysis and budgetary comparison information be presented to supplement the basic financial statements.
Such information, although not a part of the basic financial statements, is required by the GASB, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context.