ARP Accounting and Financial Reporting in North Carolina
Death and Taxes
OCTOBER 21, 2022
ARP funds meet the definition of government-mandated nonexchange transactions as defined in GASB Statement No. Thus, eligibility requirements are met when an obligation is incurred no later than December 31, 2024, and the expenditure occurs no later than December 31, 2026. As such, assets (e.g., 200.344(d).
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