GASB Statement No. 103 introduces targeted updates to the financial reporting model for local governments. Through this new standard, GASB hopes to improve the usefulness and comparability of financial reports, modernize outdated parts of the financial reporting model that were last touched by GASB 34, and enhance the Management’s Discussion and Analysis (MD&A) section of the report, and more. Our training video dives in deeper on the new requirements and what you need to know as implementation approaches beginning with June 30, 2026 fiscal year ends.