GASB Statement No. 104, Disclosure of Certain Capital Assets, is being implemented in fiscal year 2026 (FY 26) and requires the following:

  1.  Detailed disclosure regarding intangible capital assets. (This only affects how OFM displays capital assets in the ACFR.)
  2. Disclosure of capital assets held for sale.

As a state agency, this means that for FY 26 you will be required to determine if your agency has any capital assets that are considered “held for sale.” There will be a new question on the Miscellaneous Disclosure Form regarding capital assets held for sale.

More information regarding capital assets held for sale will be provided in the year-end training, disclosure form training, and in the following SAAM chapters:

  • Chapter 30: Capital Asset Policies – Added new section regarding capital assets held for sale.
  • Chapter 90: State Reporting – Added year-end activity regarding an agency determining if they have any capital assets held for sale.

See OFM Directive 26A-02 for more details about the SAAM changes.