GASB-34 Guidance

After more than 10 years of deliberation and debate with substantial controversy and compromise, the Governmental Accounting Standards Board (GASB)on June 30, 1999, unanimously approved GASB Statement No. 34, Basic Financial Statements - and Management's Discussing and Analysis - For State and Local Governments. Statement 34 is arguably the most significant change in the history of governmental accounting. Following are various documents we hope will provide guidance for Michigan Public Schools in their implementation of GASB 34 requirements.

 

MDE Guidance on GASB-34

• Michigan School Accounting Referent Group's Guidance on GASB-34. (Last Updated 02/27/07)
• MDE Letter on GASB #34 Dated 10/26/00
• Public School Districts with 1999 Total Revenues and Fiscal Year GASB 34 Implementation is required.