Viewpoints
GASB 103: Governmental Accounting and Financial Reporting Model Improvements
A must-watch webcast, GASB 103: Governmental Accounting and Financial Reporting Model Improvements explores how the landscape is evolving for Public Housing Authorities with fiscal years ending on or after June 30, 2026, with the implementation of GASB Statement No. 103, Financial Reporting Model Improvements (GASB 103). Doeren Mayhew’s Laura Anne Pray, Sean Cedar and Becky Sabetsky break down the major changes and requirements introduced by GASB 103, extending beyond proprietary fund financials. This session equips CFOs, finance directors, controllers and finance teams with the critical insights and strategies needed to navigate these important accounting updates with confidence.
The two biggest takeaways from GASB 103: First, the biggest reader reaction will be operating income because grants and subsidies move below the operating income/loss line. Second, there are no expected changes to your Financial Data Schedule presentation or your REAC submissions for this standard implementation.
Learning Objectives
- Understand the new content requirements for the Management’s Discussion and Analysis (MD&A).
- Structure a proprietary fund statement of revenues, expenses and changes in fund net position with the new presentation requirements.
- Identify why certain transactions are reported as operating or nonoperating revenues and expenses in proprietary fund financial statements.
- Recognize transactions that may meet the classification of unusual or infrequent items and understand the associated presentation and disclosure requirements.
- Prepare financial statements to present major discretely presented component units properly.
- Understand the definition of a subsidy.
