Originally published January 12, 2024
Updated April 24, 2025
This blog post was originally published in January 2024, but we've recently updated the Checklist for 2025 reporting year. You can find the new Checklist in SAO’s Resource Library. We've also updated the links in this post for your convenience.
What’s new?
In the spring of 2020, SAO changed the way that cash-basis local governments were to report their cash and investment balances. Gone away were reserved and unreserved classifications and in their place came unassigned, assigned, committed, restricted, and nonspendable. This meant a new task was at hand—calculating the amount of total ending cash and investments that fits into these new classifications at the end of each fiscal year. This article helps you understand how a local government's accounting policies may dictate how to calculate these amounts.
The GAAP and Cash Basis BARS Manuals have been updated!
Originally published July 26, 2019
Updated October 28, 2024
This blog post was originally published in July 2019, but we've recently updated the Identifying Asset Retirement Obligations Guide. You can find the new Guide in SAO’s Resource Library. We've also updated the links in this post for your convenience.
Here’s what’s new in the Guide:
The 2019 Budgeting, Accounting and Reporting System (BARS) update for entities that report using generally accepted accounting principles (GAAP) has a new section on accounting for “contingencies and litigations,” and we encourage you to check it out. It includes a comprehensive chart that will help financial statement preparers more quickly assess potential accounting and disclosure requirements. It also includes guidance on how to handle expected insurance recoveries related to a contingent liability.
Estimated reading time: 3 minutes
Governmental Accounting Standards Board (GASB) Statement 75, Accounting and Reporting for OPEB is effective for the Reporting Year 2018 (this year!). OPEB, or post-employment benefits other than pension, includes benefits such as healthcare provided through a pension plan or separately (medical, dental, vision, hearing, etc.) and other benefits when provided separately from a pension plan, such as: life insurance, long-term care, disability, and more.
Spring will be here before you know it, and so will the annual report deadline for local governments whose fiscal year ends December 31, 2018. For those governments, annual reports are due May 30, 2019.
Plenty of attention surrounds a new 
Governmental Accounting Standards Board (GASB) statement in the year it is implemented. Then we tend to forget about them in subsequent years. Not all GASB statements are relevant or material for all governments in the year they are implemented, but all governments should continue to monitor them.
Last fall, we posted an article strongly encouraging governments to start evaluating activities that might be classified as fiduciary activities under the Governmental Accounting Standards Board's (GASB) recently issued Statement No. 84.