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Mauldin & Jenkins Governmental Newsletter  |  April 3, 2020
 
GASB to Consider Postponing Effective Dates
The Governmental Accounting Standards Board (GASB) has announced that it has added a project to its current technical agenda to consider postponing all Statement and Implementation Guide provisions with an effective date that begins on or after reporting periods beginning after June 15, 2018.

As a result of the closure of many state and local government offices due to the COVID-19 pandemic, many government officials do not have access to the information necessary for implementing new GASB pronouncements. The GASB has received numerous requests from state and local government officials and public accounting firms regarding postponing the upcoming effective dates of pronouncements. Most notably, those pronouncements include Statement No. 84,
Fiduciary Activities, and Statement No. 87, Leases, as well as their related Implementation Guides.

The Board plans to consider an Exposure Draft for issuance during its April 14 teleconference and finalize the guidance during its May 26 teleconference. Keep an eye on the GASB website for further developments.



ABOUT MAULDIN & JENKINS, LLC
 
 
Mauldin & Jenkins has provided audit, accounting and tax services since 1918. Our culture, from the beginning, has been to provide top quality service to every client. We have grown into one of the top 100 accounting firms in the nation.

The governmental sector represents a significant practice division for Mauldin & Jenkins. We provide over 100,000 hours of service to our governmental clients on an annual basis, and currently serve over 480 governmental entities, including:

  • Cities
  • Counties
  • School Districts
  • Charter Schools
  • State Government Agencies, Authorities, Commissions & Depts.
  • Federal Agencies
  • Special Purpose Entities
  • Water & Sewer Operations
  • Gas & Electric Utilities
  • Mass Transit Operations
  • Airport / Aviation Operations
  • Municipal Solid Waste Landfills
  • Stormwater Operations
  • Library Systems
  • Community Services Boards
  • Boards of Health
  • Disability & Special Needs Entities
  • Tax Allocation Districts

  • Special Service Districts
  • Industrial Authorities
  • Development Authorities
  • Planning Commissions
  • Governmental Defined Benefit &
    Contribution Plans
  • Governmental OPEB Plans
  • Empowerment Zones
  • Housing Authorities
  • Public Facility Authorities
  • Building Authorities
  • Land Bank Authorities
  • Mosquito Districts
  • Recreation Authorities
  • Convention & Visitors Bureaus
  • Component Units  
  • Joint Ventures

Mauldin & Jenkins also serves approximately 130 governments that receive the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting, and, or the Association of School Business Officials (ASBO) Certificate of Excellence in Financial Reporting.
 



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