Document Type




Publication Date

Spring 1990


University of Akron College of Business

Source Publication

Akron Business and Economic Review

Source ISSN



In 1979, the National Council on Governmental Accounting's Statement One eliminated several inconsistencies in governmental accounting. However, accounting for special assessments was never fully resolved. After several revisions, the Governmental Accounting Standards Board (GASB) issued Statement 6 in January 1987. Assessments typically are divided into those providing capital improvements and those providing services. The new accounting and financial reporting requirements include: 1. special assessments for operating services provided to the public, 2. accounting for debt service for which no government has an obligation in an agency fund, and 3. reporting a direct capital expenditure or a transfer to a capital projects fund if an improvement is financed with existing resources. The accounting and financial reporting standards of Statement 6 are effective for periods beginning after June 15, 1987. The Statement also discusses reporting for services that are financed in whole or in part by special assessments paid by the property owners receiving those services.


Published version. Akron Business and Economic Review, Vol. 21, No. 1 (Spring 1990): 18-26. © 1990 University of Akron College of Business.

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