GASB Proposes Additional Debt Disclosures
The GASB has issued an Exposure Draft which proposes amendments to GASB Statements No. 34 and No. 38 titled Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements. The amendments contained in the Exposure Draft would require additional debt disclosures which are designed to better inform stakeholders of the potential effects of debt on a government’s future resource flows.