INTERPRETATION NO. 6
RECOGNITION AND MEASUREMENT OF CERTAIN LIABILITIES AND EXPENDITURES IN GOVERNMENTAL FUND FINANCIAL STATEMENTS—AN INTERPRETATION OF NCGA STATEMENTS 1, 4, AND 5; NCGA INTERPRETATION 8; AND GASB STATEMENTS NO. 10, 16, AND 18

Status

Issued: March 2000

Effective Date:

Coincides with the effective date of Statement 34 for the reporting government. That is, the requirements of this Interpretation are effective in three phases based on a government’s total annual revenues in the first fiscal year ending after June 15, 1999:

• Phase 1 governments—with annual revenues of $100 million or more—should apply the requirements of this Interpretation in financial statements for periods beginning after June 15, 2001.
• Phase 2 governments—with total annual revenues of $10 million or more but less than $100 million—should apply the requirements of this Interpretation in financial statements for periods beginning after June 15, 2002.
• Phase 3 governments—with total annual revenues of less than $10 million—should apply the requirements of this Interpretation in financial statements for periods beginning after June 15, 2003.

This Interpretation should be simultaneously implemented with Statement 34. Earlier application is encouraged, if done in conjunction with early adoption of Statement 34.

Affects:

• Amends NCGAS 1, ¶43, ¶70, and ¶72
• Interprets NCGAS 1, ¶57
• Amends NCGAS 4, ¶13, ¶16, and ¶17
• Amends NCGAS 5, ¶13
• Amends NCGAI 8, ¶12
• Amends GASBS 10, ¶64
• Amends GASBS 16, ¶13
• Amends GASBS 17, ¶6
• Amends GASBS 18, ¶10

Affected by:

• Paragraph 5 amended by GASBS 47, ¶3 and GASBS 87, ¶35 and ¶36
• Paragraph 6 amended by GASBS 47, ¶3
• Paragraph 7 amended by GASBS 45, ¶19; GASBS 73, ¶115 and ¶116; and GASBS 87, ¶3
• Footnote 3 superseded by GASBS 45, ¶4
• Paragraph 9 amended by GASBS 47, ¶3; GASBS 49, ¶9 and ¶24; GASBS 83, ¶8 and ¶24; and GASBS 87, ¶20
• Paragraph 11 amended by GASBS 47, ¶3; GASBS 49, ¶24; GASBS 83, ¶8 and ¶24; and GASBS 87, ¶35 and ¶36
• Paragraph 13 amended by GASBS 87, ¶35 and ¶36
• Paragraph 14 amended by GASBS 47, ¶16; GASBS 49, ¶24; and GASBS 83, ¶8 and ¶24; will be amended by GASBS 101, ¶29
• Footnote 7 amended by GASBS 47, ¶3 and ¶12–¶14; GASBS 49, ¶9; and GASBS 83, ¶8 and ¶24
• Paragraph 16 amended by GASBS 54, ¶5

Primary Codification Section References: 1500, 1600

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