[CAFR-Contacts-News] GASB Statement 95, Postponement of the Effective Dates for Certain Authoritative Guidance

[CHASE Stacey A * DAS]

Good afternoon.

CAFR Contacts,
Today GASB issued Statement 95<https://www.gasb.org/jsp/GASB/Document_C/DocumentPage?cid=1176174599833&acceptedDisclaimer=true>, Postponement of the Effective Dates for Certain Authoritative Guidance, which includes the following guidance:

Postpones by one year the effective dates of certain provisions in the following pronouncements:
Statement No. 83, Certain Asset Retirement Obligations
Statement No. 84, Fiduciary Activities*
Statement No. 88, Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements
Statement No. 89, Accounting for Interest Cost Incurred before the End of a Construction Period
Statement No. 90, Majority Equity Interests
Statement No. 91, Conduit Debt Obligations
Statement No. 92, Omnibus 2020
Statement No. 93, Replacement of Interbank Offered Rates
Implementation Guide No. 2017-3, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions (and Certain Issues Related to OPEB Plan Reporting)
Implementation Guide No. 2018-1, Implementation Guidance Update-2018
Implementation Guide No. 2019-1, Implementation Guidance Update-2019
Implementation Guide No. 2019-2, Fiduciary Activities

Postpones the effective dates of the following pronouncements by 18 months:
Statement No. 87, Leases
Implementation Guide No. 2019-3, Leases.

The provisions of Statement 95 are effective immediately. Statement 95 does not postpone the effective date of Statement No. 94, Public-Private and Public-Public Partnerships and Availability Payment Arrangements, because the pandemic was factored into Statement 94's effective date.

*Note: Oregon will implement GASB Statement 84, Fiduciary Activities, in fiscal year 2020.

Happy Friday everyone!
s

Stacey A. Chase
Senior Financial Reporting & Policy Analyst
Chief Financial Office
Department of Administrative Services
Phone: (503) 947-8567
https://www.oregon.gov/das/financial/acctng/pages/index.aspx

Data Classification: Level 1 - Published

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