Browsing: This update represents the culmination of a multi-year reexamination of the reporting model originally established under GASB Statement No. 34. While not a complete overhaul

     As state and local governments move through 2026 financial reporting cycles, GASB Statement No. 103 is no longer just on the horizon, it is here. Effective for fiscal years beginning after June 15, 2025, the standard now applies to June 30, 2026 year ends, making this the first widespread implementation year for many governments.