GASB issues statement 41, Budgetary Comparison Schedule.

The Governmental Accounting Standards Board has issued Statement No. 41, Budgetary Comparison Schedule--Perspective Differences, that clarifies existing guidance on budgetary comparisons in GASB Statement No. 34, Basic Financial Statements--and Management's Discussion and Analysis--for State and Local Governments.

This amendment applies to governments with budgetary structures (e.g., certain program-based budgets) that prevent them from presenting budgetary comparison information for their general funds and major special revenue funds, as currently required by Statement 34.

The accounting change is being implemented simultaneously with Statement 34. For governments that already have implemented Statement 34, the requirements would be effective for periods beginning after June 15, 2002. The statement may be obtained from the GASB Order Department at 800/748-0659.