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ACCOUNTING STANDARDS UPDATE <br />APPENDIX B <br />GASB No. 18 Accounting for Municipal Solid Waste Landfill Closure and Postclosure Care <br />Costs <br />This statement was issued in August, 1993 and establishes standards of accounting and financial <br />reporting for Municipal Solid Waste Landfill (MSWLF) closure and postclosure care costs that <br />are required to be incurred by federal, state or local laws and regulations. <br />Essentially, MSWLF financial statements are required to accrue a liability during the life of a <br />landfill for closure and postclosure care costs. <br />This Statement is effective for financial statements for periods beginning after June 15, 1993. <br />GASB No. 19 Governmental College and University Omnibus Statement <br />This Statement was issued in September, 1993 and requires governmental colleges and <br />universities that follow the AICPA College Guide model to report Pell grants in a restricted <br />current fund. This Statement also requires that if a single fund is used to account for risk <br />financing activities, that fund should be reported as an unrestricted current fund. <br />For Pell grants, this Statement is effective for financial statements for periods beginning after <br />June 15, 1993. For risk financings activities, this Statements is effective for fmancial statements <br />for periods beginning after June 15, 1994. Early application is encouraged. <br />GASB No. 20 Accounting and Financial Reporting for Proprietary Funds and Other <br />Governmental Entities that Use Proprietary Fund Accounting <br />This statement was issued in September, 1993 and redefines generally accepted accounting <br />principles (GAAP) for proprietary funds. <br />The authoritative status of guidance issued on or before the cutoff date of November 30, 1989, is <br />different from the authoritative status of pronouncements issued subsequently. <br />For guidance issued on or before the cutoff date, pronouncements of the FASB and its <br />predecessor bodies will continue to be applicable to proprietary funds unless they conflict with or <br />contradict GASB guidance. <br />PREPARED BY TAUTGES, REDPATH & CO., LTD. PAGE 2 OF 8 <br />