Complete Story


Auditor of State Bulletin 2020-003

GASB 84: Fiduciary Activities


Date Issued:

Feb. 2020


All Public Offices, IPAs, and AOS Audit Employees


Keith Faber, Ohio Auditor of State


GASB 84: Fiduciary Activities


About Bulletin 2020-003

This bulletin describes reporting requirements for Governmental Accounting Standards Board (GASB) Statement No. 84, Fiduciary Activities.

GASB 84 includes guidance for identifying fiduciary activities for accounting and financial reporting purposes and how those activities should be reported.

The GASB issued an Implementation Guide to supplement the guidance found in GASB 84. The Guide is organized in a question-and-answer format.

The requirements of this Statement apply to all Ohio state and local governments that prepare GAAP (Generally Accepted Accounting Principles) Statements, including those with a GAAP reporting requirement per Ohio Admin. Code (OAC) §117-02-03(B). Some other governments may be subject to GAAP reporting requirements, such as through a debt covenant.

GASB 84 is effective for financial statements for periods beginning after December 15, 2018. Meaning, governments with a December 31 fiscal year end must apply it to their December 31, 2019, GAAP financial statements; school districts and other governments with a June 30 fiscal year-end must apply GASB 84 to their June 30, 2020, GAAP financial statements. Guidance from the implementation guide will also be effective at this time.

Any local governments that early implemented GASB 84 will also need to apply the guidance from the implementation guide.

If you have any questions regarding the information presented in the Bulletin, please contact Local Government Services at the Auditor of State’s Office at (800) 345-2519.


Please click the link to read Auditor of State Bulletin 2020-003 on reporting requirements for fiduciary activities. 



Printer-Friendly Version