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At EY, our purpose is building a better working world. The insights and services we provide help to create long-term value for clients, people and society, and to build trust in the capital markets.
Our publication summarizes key provisions of GASB 103, Financial Reporting Model Improvements, and provides interpretive guidance for state and local government business-type activities. The standard is effective for state and local governmental entities for fiscal years beginning after 15 June 2025 and all reporting periods thereafter. Earlier application is encouraged.