[CAFR-Contacts-News] GASB has issued Statement No. 94

[HAMILTON Robert W * DAS]

Hello CAFR Contacts,

While we're all working on the implementation of GASB 84 Fiduciary Activities, the GASB issued Statement No. 94 yesterday. It's titled Public-Private and Public-Public Partnerships and Availability Payment Arrangements. Public-Private Partnerships (and Public-Public Partnerships) have been referred to as "P3s" and Availability Payment Arrangements, which are referred to as "APAs", are gaining in popularity nationally, so this may be an area that impacts the state, which is the reason I'm sending this around. This standard is effective for Fiscal Year 2023, so beginning July 1, 2022. This standard has already been delayed due to the COVID-19 pandemic, so GASB's proposal to delay certain standards by one year does not impact GASB 94.

Here is a write-up on the standard from the Journal of Accountancy: https://www.journalofaccountancy.com/news/2020/apr/gasb-accounting-for-p3-apa.html?utm_source=mnl:cpald&utm_medium=email&utm_campaign=21Apr2020

Here is a link to the actual standard: https://www.gasb.org/jsp/GASB/Document_C/DocumentPage?cid=1176174501953&acceptedDisclaimer=true

If you have any questions, please reach out to your SARS analyst.

Rob

Robert W. Hamilton, CPA
Statewide Accounting and Reporting Services Manager
Chief Financial Office
Department of Administrative Services
Desk:  (503) 373-0299 | Cell: (971) 719-3031
http://www.oregon.gov/DAS/financial/acctng

Data Classification: Level 1 - Published

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