Q Would booster clubs be considered a fiduciary fund and have to be recognized under GASB 84?

A It depends on the way that the booster club is structured. If the assets are not held in a bank account of the school district and the school district cannot direct the use and spending of the assets, then the control criteria would not be met, so it would not be presented in the financial statements. If the assets were held in a bank account of the school district, then management would need to look at GASB 84, paragraph 11 to see if the criteria to qualify as fiduciary has been met.