GASB 79 has been in existence for seven years. In that timespan, many local government investment pools (LGIP) have availed themselves of the opportunity to pursue the amortized cost measurement exception it affords those LGIP managers whom decide to utilize it. In this whitepaper, California CLASS explores the realities of this exception in addition to why fair value security measurement and a AAAm rating matter to the California public agency investor.
To learn more about the oft-misunderstood area of local government investment pool GASB 79 adherence, the abstract practice of amortized cost security measurement, and the practical transparency that results from fair value measurement, download the Fair Value – A Transparent Look Into An Investment Pool’s Holdings whitepaper!
Laura Glenn, CFA ®
Senior Director, Investment Services
Public Trust Advisors, LLC