LASAAC has provided guidance on IFRS 9 Financial Instruments – earmarking of gains not available to fund services. This specifies that balances in the general fund (or HRA balance) relating to unrealised, or volatile, gains from financial instruments classified as ‘fair value through profit or loss’ should be earmarked and not regarded as available to fund services.
Key elements of the guidance include:
LASAAC is grateful for the participation of, and contributions from, all stakeholders involved in the development of the guidance.
Feedback on the experience of applying this guidance in 2018/19 would be welcome, and should be emailed to firstname.lastname@example.org.