On May 1, 2020, the Governmental Accounting Standards Board (GASB) issued Statement No. 95 Postponement of the Effective Dates of Certain Authoritative Guidance. This pronouncement allows local governments one-year and 18-month extensions (the extension will vary for each pronouncement) for the required implementation dates of several recent GASB accounting pronouncements that include GASB Statements No. 83 Certain Asset Retirement Obligations through Statement No. 93 Replacement of Interbank Offered Rates. Appendix B17 states that if a local government has already implemented a GASB accounting pronouncement, there is no requirement to reverse the financial statement effects. You can continue to apply newly implemented GASB Statements without reversing them. Please see below for a copy of GASB Statement No. 95 and visit gasb.org/home for more information.