GASB Issues Exposure Draft
The amendment expands on the guidance offered by the original statement regarding the status of an affiliated organization as a component unit of a financial reporting entity. An affiliated organization, for purposes of this statement, can include certain foundations and other not-for-profit groups associated with colleges and universities, hospitals, school districts, museums, libraries, and other governmental entities.
A copy of the exposure draft may be obtained at no charge by calling GASB at 800-748-0659. Written comments on the exposure draft are encouraged and must be submitted by October 31, 2001.