In a press release dated March 26, 2020, the GASB announced it is considering postponement of implementation of all standards and implementation guides with effective dates that begin on or after reporting periods ended June 30, 2018, and beyond. Of particular interest to NC local governments is that included in this consideration are both Statement 84 on Fiduciary Funds and Statement 87 on Leases. This is excellent news for local governments faced with myriad challenges as a result of COVID-19. The exposure draft for this project will be issued in April, and full board consideration will occur in May, 2020. Read the full text of the press release here.