How changing regulations affect K12
2 min read
COVID-19 update for K-12: The CARES Act and potential GASB changes
The CARES Act provides $13.5 billion in stabilization funding to states in support of elementary and secondary education programs, which are expected to be distributed based on current Title I program funding allocations. GASB deadlines may also be extended.
1 min read
OMB provides single audit extensions and administrative relief
The OMB has issued a memorandum to provide guidance on areas of administrative relief for recipients and applicants of federal financial assistance directly impacted by COVID-19 due to loss of operations. Here’s what you need to know.
1 min read
GASB initiates new project with significant GASB 84 implications
Once this new standard is issued, it will likely have a significant impact on determining whether defined contribution pension and OPEB plans meet the definition of a fiduciary component unit under GASB 84.
2 min read
GASB replacement of Interbank Offered Rates: What you need to know
In September 2019, the GASB issued an exposure draft titled “Replacement of Interbank Offered Rates.” As you amend agreements to replace LIBOR as a reference rate, keep in mind the provisions on this proposed standard to minimize any accounting impact.
Deep dive: How changing regulations affect K12
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