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GASB proposes guidance on certain debt extinguishment issues

  • GASB document Image

Aug 29, 2016

The GASB has issued an exposure draft (ED), “Certain Debt Extinguishment Issues,” that governmental entities “would apply when extinguishing debt prior to its maturity.” Specifically, the proposal would provide guidance on “transactions in which only existing resources are placed in a trust for the purpose of extinguishing debt.”

Com­ments on the ED are due by October 28, 2016. For more in­for­ma­tion, see the press release and ED on the GASB’s Web site.

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