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Future Accounting Standard Changes (Continued) <br />GASB Statement No. 97!.!Certain Component Unit Criteria, and Accounting and Financial Reporting for Internal <br />Revenue Code Section 457 Deferred Compensation Plans - an amendment of GASB Statements No. 14 and No. 84, and <br />a supersession of GASB Statement No. 32 <br />Summary <br />Uif!qsjnbsz!pckfdujwft!pg!uijt!Tubufnfou!bsf!up!)2*!jodsfbtf!dpotjtufodz!boe!dpnqbsbcjmjuz!sfmbufe!up!uif!sfqpsujoh!pg! <br />gjevdjbsz!dpnqpofou!vojut!jo!djsdvntubodft!jo!xijdi!b!qpufoujbm!dpnqpofou!voju!epft!opu!ibwf!b!hpwfsojoh!cpbse!boe!uif! <br />qsjnbsz!hpwfsonfou!qfsgpsnt!uif!evujft!uibu!b!hpwfsojoh!cpbse!uzqjdbmmz!xpvme!qfsgpsn<!)3*!njujhbuf!dptut!bttpdjbufe!xjui! <br />uif!sfqpsujoh!pg!dfsubjo!efgjofe!dpousjcvujpo!qfotjpo!qmbot-!efgjofe!dpousjcvujpo!puifs!qptufnqmpznfou!cfofgju!)PQFC*! <br />qmbot-!boe!fnqmpzff!cfofgju!qmbot!puifs!uibo!qfotjpo!qmbot!ps!PQFC!qmbot!)puifs!fnqmpzff!cfofgju!qmbot*!bt!gjevdjbsz! <br />dpnqpofou!vojut!jo!gjevdjbsz!gvoe!gjobodjbm!tubufnfout<!boe!)4*!foibodf!uif!sfmfwbodf-!dpotjtufodz-!boe!dpnqbsbcjmjuz!pg! 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<br />nffu!uif!dsjufsjb!jo!qbsbhsbqi!4!pg!Tubufnfou!Op/!78-!Gjobodjbm!Sfqpsujoh!gps!Qfotjpo!Qmbot-!ps!qbsbhsbqi!4!pg!Tubufnfou! <br />Op/!85-!Gjobodjbm!Sfqpsujoh!gps!Qptufnqmpznfou!Cfofgju!Qmbot!Puifs!Uibo!Qfotjpo!Qmbot-!sftqfdujwfmz/ <br />Uijt!Tubufnfou!)2*!sfrvjsft!uibu!b!Tfdujpo!568!qmbo!cf!dmbttjgjfe!bt!fjuifs!b!qfotjpo!qmbo!ps!bopuifs!fnqmpzff!cfofgju! <br />qmbo!efqfoejoh!po!xifuifs!uif!qmbo!nffut!uif!efgjojujpo!pg!b!qfotjpo!qmbo!boe!)3*!dmbsjgjft!uibu!Tubufnfou!95-!bt! <br />bnfoefe-!tipvme!cf!bqqmjfe!up!bmm!bssbohfnfout!pshboj{fe!voefs!JSD!Tfdujpo!568!up!efufsnjof!xifuifs!uiptf! <br />bssbohfnfout!tipvme!cf!sfqpsufe!bt!gjevdjbsz!bdujwjujft/ <br />Uijt!Tubufnfou!tvqfstfeft!uif!sfnbjojoh!qspwjtjpot!pg!Tubufnfou!Op/!43-!Bddpvoujoh!boe!Gjobodjbm!Sfqpsujoh!gps!Joufsobm! <br />Sfwfovf!Dpef!Tfdujpo!568!Efgfssfe!Dpnqfotbujpo!Qmbot-!bt!bnfoefe-!sfhbsejoh!jowftunfou!wbmvbujpo!sfrvjsfnfout!gps! <br />Tfdujpo!568!qmbot/!Bt!b!sftvmu-!jowftunfout!pg!bmm!Tfdujpo!568!qmbot!tipvme!cf!nfbtvsfe!bt!pg!uif!foe!pg!uif!qmbo“t! <br />sfqpsujoh!qfsjpe!jo!bmm!djsdvntubodft/ <br />Effective Date and Transition <br />Uif!sfrvjsfnfout!pg!uijt!Tubufnfou!uibu!)2*!fyfnqu!qsjnbsz!hpwfsonfout!uibu!qfsgpsn!uif!evujft!uibu!b!hpwfsojoh!cpbse! <br />uzqjdbmmz!qfsgpsnt!gspn!usfbujoh!uif!bctfodf!pg!b!hpwfsojoh!cpbse!uif!tbnf!bt!uif!bqqpjounfou!pg!b!wpujoh!nbkpsjuz!pg!b! <br />hpwfsojoh!cpbse!jo!efufsnjojoh!xifuifs!uifz!bsf!gjobodjbmmz!bddpvoubcmf!gps!efgjofe!dpousjcvujpo!qfotjpo!qmbot-!efgjofe! <br />dpousjcvujpo!PQFC!qmbot-!ps!puifs!fnqmpzff!cfofgju!qmbot!boe!)3*!mjnju!uif!bqqmjdbcjmjuz!pg!uif!gjobodjbm!cvsefo!dsjufsjpo!jo <br />qbsbhsbqi!8!pg!Tubufnfou!95!up!efgjofe!cfofgju!qfotjpo!qmbot!boe!efgjofe!cfofgju!PQFC!qmbot!uibu!bsf!benjojtufsfe! <br />uispvhi!usvtut!uibu!nffu!uif!dsjufsjb!jo!qbsbhsbqi!4!pg!Tubufnfou!78!ps!qbsbhsbqi!4!pg!Tubufnfou!85-!sftqfdujwfmz-!bsf! <br />fggfdujwf!jnnfejbufmz/ <br />Uif!sfrvjsfnfout!pg!uijt!Tubufnfou!uibu!bsf!sfmbufe!up!uif!bddpvoujoh!boe!gjobodjbm!sfqpsujoh!gps!Tfdujpo!568!qmbotbsf! <br />fggfdujwf!gps!gjtdbm!zfbst!cfhjoojoh!bgufs!Kvof!26-!3132/!Gps!qvsqptft!pg!efufsnjojoh!xifuifs!b!qsjnbsz!hpwfsonfou!jt! <br />gjobodjbmmz!bddpvoubcmf!gps!b!qpufoujbm!dpnqpofou!voju-!uif!sfrvjsfnfout!pg!uijt!Tubufnfou!uibu!qspwjef!uibu!gps!bmm!puifs! <br />bssbohfnfout-!uif!bctfodf!pg!b!hpwfsojoh!cpbse!cf!usfbufe!uif!tbnf!bt!uif!bqqpjounfou!pg!b!wpujoh!nbkpsjuz!pg!b! <br />hpwfsojoh!cpbse!jg!uif!qsjnbsz!hpwfsonfou!qfsgpsnt!uif!evujft!uibu!b!hpwfsojoh!cpbse!uzqjdbmmz!xpvme!qfsgpsn-!bsf! <br />fggfdujwf!gps!sfqpsujoh!qfsjpet!cfhjoojoh!bgufs!Kvof!26-!3132/!Fbsmjfs!bqqmjdbujpo!pg!uiptf!sfrvjsfnfout!jt!fodpvsbhfe!boe! <br />qfsnjuufe!cz!sfrvjsfnfou!bt!tqfdjgjfe!xjuijo!uijt!Tubufnfou/ <br />Uif!Cpbse!dpotjefsfe!uif!fggfdujwf!ebuft!gps!uif!sfrvjsfnfout!pg!uijt!Tubufnfou!jo!mjhiu!pg!uif!DPWJE.2:! <br />qboefnjd!boe!jo!dpodfsu!xjui!Tubufnfou!Op/!:6-!Qptuqpofnfou!pg!uif!Fggfdujwf!Ebuft!pg!Dfsubjo! <br />Bvuipsjubujwf!Hvjebodf/ <br />12 <br />156 <br />