[ACFR-contacts-news] GASB 87, Leases, Implementation Updates

[CHASE Stacey A * DAS]

Hello ACFR contacts!

How is GASB 87 implementation going? Great, right?! Below are a few implementation updates.

Secretary of State (SOS) Audits Division
SOS auditors started contacting agencies to discuss GASB 87 implementation efforts. Remember, documentation is essential. Whether a contract and/or agreement was determined by the agency to be subject to GASB 87 or excluded from GASB 87, be sure to document how the determination was made and retain the documentation for audit purposes. The auditors may ask to review this documentation.

Leases negotiated by DAS Real Estate Services (DAS-RES)
DAS-RES will provide a list of existing leases negotiated by DAS-RES on behalf of other state agencies. The list will include a minimum amount of information about each lease; the purpose of which is to alert agencies of current leases that will need to be evaluated and measured. DAS-RES is in the process of preparing the reports by agency for distribution no later than May 28. The lists will be distributed to the agency contact on file at DAS-RES. Please coordinate with your internal procurement or facilities office to obtain a copy of the list, as needed.

GASB 87 Resources
Be sure to visit the SARS training and resources webpage for information to assist with agency implementation efforts. Direct access to the webpage is available via the following link: https://www.oregon.gov/das/Financial/Acctng/Pages/Training.aspx.

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Please let me know if you have any questions. Have a great day everyone!
S :)


Stacey A. Chase
Senior Financial Reporting & Policy Analyst
Chief Financial Office
Department of Administrative Services
Phone: (971) 900-9993
https://www.oregon.gov/das/financial/acctng/pages/index.aspx

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