When must qualifying public agencies implement GASB 45?
GASB 45 has three implementation stages. The final implementation stage requires all public agencies with annual revenues of less than $10 million to comply in the fiscal year after December 15, 2008. The test is based on the agency’s revenue for the first fiscal year ended after December 15, 1998. All public agencies that offer retiree health care benefits must be in compliance with GASB 45 by the 2009-10 fiscal year.
