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11491000 Beneficial Interest in Assets Held by Others – Current

For the current portion of the beneficial interest defined by GASB Statement No. 81, Irrevocable Split- Interest Agreements.  (Only applicable when a third party is the intermediary and the government is a beneficiary.)  A beneficial interest is the right to a portion of the benefits from donated resources pursuant to a split-interest agreement in which the donor enters into a trust or other legally enforceable agreement with characteristics that are equivalent to a split-interest agreement, and transfers the resources to an intermediary.