Grayson County is located in the Western Coal Field region of Kentucky, in the West-Central part of the state, with an area of 493 square miles.
In the last three years, GFEBS grew from one million transactions and $1.2 billion in obligations in fiscal year 2009 to 20 million transactions and $30.8 billion in obligations in fiscal year 2011. GFEBS currently processes approximately one million transactions a day and $140 billion of the general fund annually.
This Statement provides interim guidance concerning the use of not-for-profit accounting and financial reporting principles by state and local governmental entities pending one or more GASB pronouncements on the accounting and financial reporting model for governmental entities, including proprietary activities.