Under GASB Statement No. Beginning and ending balances and increases and decreases for the year for each major long-term liability. Combining statements are limited to nonmajor funds and are not required under GASB Statement No. Property Value, Construction, and Bank Deposits Principal Taxpayers. Property Value, Construction, and Bank Deposits Principal Taxpayers.
Earlier application is permitted.
All component units are required to implement the requirements of this statement no later than the same fiscal year as their primary government regardless of the total revenue of each component unit.