GASB 101: Compensated Absences – Implementation and Reporting (On-Site)

All governments must implement GASB 101 for reporting compensated absences beginning with FY2025 financial statements. The standard introduces updated recognition, measurement, and disclosure requirements for vacation, sick leave, and other leave benefits. This on-site portion of the course is designed to help Guam agencies, component units, and financial managers apply these requirements in practice, building on the concepts introduced during the virtual session.

This training is the second part of a two-part series. The first component, delivered virtually on December 9, 2025, provided the foundational overview of the standard, including core definitions, transition requirements, and documentation needs. This on-site session will take place on Monday morning, December 15, 2025 (venue TBD), and will be followed by meetings scheduled throughout the week with individual agencies and component units. These meetings will support tailored implementation planning, review entity-specific leave structures, and identify data, policy, or system updates needed for compliance.

Participants will deepen their understanding of GASB 101 by working through practical examples, reviewing acceptable methodologies, and applying the measurement and transition requirements directly to their FY2025 compensated absences reporting. The session will emphasize actionable steps to complete calculations, prepare disclosures, and ensure that documentation is complete and supportable for year-end reporting.

What You Will Learn

After completing this course, participants will be able to:

• Understand the core requirements of GASB 101, including recognition, measurement, and disclosure rules.
• Distinguish between leave types that fall within the scope of the standard and those that do not.
• Evaluate materiality considerations for compensated absence calculations.
• Apply the revised measurement methodology, including probability assessments and expected usage patterns.
• Identify required data elements that need to be gathered prior to the calculations and design an appropriate implementation process for their entity/agency.
• Prepare transition entries and disclosures for FY2025 reporting.
• Assess internal controls, policy updates, and system adjustments needed for compliance.

Who Should Attend

This course is intended for government finance professionals involved in preparing or reviewing financial statements, including accountants, financial managers, component unit finance staff, auditors, budget and payroll personnel, and agency staff responsible for leave administration or year-end reporting. It is especially relevant for teams supporting Single Audit preparation, providing inputs to financial reporting, preparing FY2025 compensated absences calculations, or assisting with GASB 101 implementation across their organizations.

Health & Safety Protocols

For all on-site training in the insular areas, the Graduate School USA's Pacific and Virgin Islands Training Initiatives (PITI-VITI) works closely with local training hosts to ensure that participants, instructors, and training support staff enjoy a safe learning experience. Please note the following:

• Full details of PITI-VITI's health and safety guidelines are available here.
• Local health and safety guidelines for the government of Guam, which will be hosting this training, is available at http://dphss.guam.gov/covid-19/.
• Please contact PITI-VITI Admin at [email protected] with any questions or concerns.

Tuition Fees

With funding support from the United States Department of the Interior, Office of Insular Affairs, courses are available free of charge for government accountability professionals within the insular areas. The course fee is waived and there is no cost to register and attend, Professionals who do not meet the above criteria, please contact [email protected].