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Are all Land Banks Component Units of County Government?


Topic starter

This past year we were included in the County's audit as a component unit for the first time. I am curious if all Land Banks are considered to be component units?

If it is not automatically applied, then is there an understanding of what qualifies land banks as component units? Does having three of our five board members being elected county officials (2 commissioners, 1 treasurer) factor into this? Is is strictly affected by source and amount of revenue? 

Any insight into this would be greatly appreciated. 


The classification of a County Land Reutilization Corporation as a component unit is based on criteria set by the Government Accounting Standards Board (GASB).  This covers more than just land banks.  While it seems clear that Land Banks with 5 member boards are component units based on the county appointing the majority of its members it is not so clear for those with 7 or 9 member boards.  I'll review recent audits of a sample of the land banks to see which are considered component units and which are not.

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