I have heard from quite a few of you about my message yesterday regarding the accounting treatment of refunds resulting from the recent court ruling on impact fees!
I apparently did not make myself very clear and for that I apologize. Whether or not you have a liability to record is a decision each unit will make in concurrence with its attorneys and its auditors. My guidance was for those that have determined they do have a liability. Many of you are planning to note disclose only and again, if you, your attorneys and your auditors are comfortable with that, we will accept it.
If you would like to discuss please contact me at sharon.edmundson@nctreasurer.com.