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22 <br /> AULDIN N4920shl-1, <br /> & ENKINS <br /> Comments, Recommendations, ORANGE COUNTY <br /> and Other Issues (Continued) NORTH CAROLINA <br /> New GASB Pronouncements for Future Years <br /> GASB Statement No. 77, Tax Abatement Disclosures, will require footnote disclosure related to any tax <br /> abatements entered into which would impact the County's revenue, whether entered into by the County or <br /> another government but having an impact on the County. Applicable for June 30, 2017. An evaluation will <br /> have to be done to find and disclose all of these such agreements — including those entered into by other <br /> organizations, such as the State. <br /> GASB Statement No. 78, Pensions Provided through Certain Multiple-Employer Defined Benefit Pension <br /> Plans, amends GASB 68 to address practice issues which came up with the implementation of that new <br /> standard. It changes the accounting and disclosure requirements for government's whose employees <br /> participate in a multi-employer cost sharing pension plan that is not a government plan and is used to provide <br /> pensions to both government and non-government employers. This should have no impact on the County's <br /> plans or accounting. Applicable for June 30, 2017. <br /> GASB Statement No. 80, Blending Requirements for Certain Component Units, an amendment of GASB 14, <br /> amends the blending requirements to include a not-for-profit corporation in which the primary government is <br /> the sole corporate member. This should have no impact on the County's financial statements. Applicable for <br /> June 30, 2017. <br /> �� I . <br />