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<br /> <br />Future Accounting Standard Changes (Continued) <br /> <br />GASB Statement No. 95 - Postponement of the Effective Dates of Certain Authoritative Guidance <br /> <br />Summary <br /> <br />The primary objective of this Statement is to provide temporary relief to governments and other stakeholders in light of <br />the COVID-19 pandemic. That objective is accomplished by postponing the effective dates of certain provisions in <br />Statements and Implementation Guides that first became effective or are scheduled to become effective for periods <br />beginning after June 15, 2018, and later. <br /> <br />The effective dates of certain provisions contained in the following pronouncements are postponed by one year: <br /> <br />• Statement No. 83, Certain Asset Retirement Obligations <br /> <br />• Statement No. 84, Fiduciary Activities <br /> <br />• Statement No. 88, Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements <br /> <br />• Statement No. 89, Accounting for Interest Cost Incurred before the End of a Construction Period <br /> <br />• Statement No. 90, Majority Equity Interests <br /> <br />• Statement No. 91, Conduit Debt Obligations <br /> <br />• Statement No. 92, Omnibus 2020 <br /> <br />• Statement No. 93, Replacement of Interbank Offered Rates <br /> <br />• Implementation Guide No. 2017-3, Accounting and Financial Reporting for Postemployment Benefits Other Than <br />Pensions (and Certain Issues Related to OPEB Plan Reporting) <br /> <br />• Implementation Guide No. 2018-1, Implementation Guidance Update - 2018 <br /> <br />• Implementation Guide No. 2019-1, Implementation Guidance Update - 2019 <br /> <br />• Implementation Guide No. 2019-2, Fiduciary Activities. <br />The effective dates of the following pronouncements are postponed by 18 months: <br /> <br />• Statement No. 87, Leases <br /> <br />• Implementation Guide No. 2019-3, Leases. <br />Effective Date and Transition <br /> <br />The requirements of this Statement are effective immediately. <br /> <br />How the Changes in This Statement Will Improve Accounting and Financial Reporting <br /> <br />Providing governments with sufficient time to apply the authoritative guidance addressed in this Statement will he lp to <br />safeguard the reliability of their financial statements, which in turn will benefit the users of those financial statements. <br /> <br /> <br />10