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<p class="MsoNormal">Good afternoon ACFR Contacts,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">The GASB has issued the Infrastructure Assets Exposure Draft, and SARS would like to hear from any agencies that are interested in providing feedback. We would like to provide consolidated feedback to NASC by June 5, so we are asking agencies
<u>to submit their feedback to SARS by Friday, May 22</u>. This will give us enough time to review the responses and follow up with any questions before forwarding them to NASC.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Not all agencies have infrastructure assets, but for those that do (Agencies 107, 109, 141, 248, 259, 291, 415, 443, 629, 634, 635, and 730), this exposure draft will be important to review, as it may affect how your agency accounts for
infrastructure assets.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">If you have any questions, please let me know.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Valya<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal" style="line-height:120%"><span style="color:black;mso-ligatures:none"><img width="96" height="96" style="width:1.0in;height:1.0in" id="Picture_x0020_1109802523" src="cid:image002.png@01DCC76B.7FA462E0" alt="DAS logo"></span><span style="mso-ligatures:none"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="color:black;mso-ligatures:none">Valya Rizzo</span></b><b><span style="mso-ligatures:none"><o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="mso-ligatures:none">Statewide Accounting and Reporting Services Manager<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none">Office of the State Controller<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none">Cell: 971-900-9991<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#00579B;mso-ligatures:none"><a href="https://www.oregon.gov/das/Pages/index.aspx"><span style="color:#00579B">Oregon Department of Administrative Services</span></a><o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;mso-ligatures:none">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;mso-ligatures:none"> Kim O'Ryan <koryan@nasact.org>
<br>
<b>Sent:</b> Wednesday, April 8, 2026 1:07 PM<br>
<b>To:</b> NSAAAuditors <NSAAAuditors@nasact.org>; NASCComptrollers <NASCComptrollers@nasact.org>; StateTreasurers <StateTreasurers@nasact.org>; NASACTCARA <NASACTCARA@nasact.org>; NASCCFRA <NASCCFRA@nasact.org>; NSAA2026AuditStandardsReportingCommittee <NSAA2026AuditStandardsReportingCommittee@nasact.org><br>
<b>Cc:</b> NSAAAuditorsCCs <NSAAAuditorsCCs@nasact.org>; NASCComptrollersCCs <NASCComptrollersCCs@nasact.org>; StateTreasurersCCs <StateTreasurersCCs@nasact.org><br>
<b>Subject:</b> GASB Exposure Draft - Infrastructure Assets<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial",sans-serif;mso-ligatures:none">The Governmental Accounting Standards Board has issued an Exposure Draft (ED) of a proposed statement for
<i>Infrastructure Assets</i>.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial",sans-serif;mso-ligatures:none"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial",sans-serif;mso-ligatures:none">GASB is proposing guidance related to the definition, recognition, and measurement of infrastructure assets, as well as associated note disclosures and required
supplementary information schedules. The <a href="https://www.gasb.org/projects/documents-for-public-comment?utm_source=Media+List&utm_campaign=ef5e61ccfe-EMAIL_CAMPAIGN_2026_02_10_04_58_COPY_01&utm_medium=email&utm_term=0_-8ce717e83c-145234189&mc_cid=ef5e61ccfe&mc_eid=64fc75ed88">
Exposure Draft</a> is available on GASB’s website, <a href="https://url.avanan.click/v2/r01/___https:/accountingfoundation.us3.list-manage.com/track/click?u=e043e1190253df702a1340ed7&id=4f5a3e351f&e=64fc75ed88___.YXAzOm5hc2FjdDphOm86Nzk2ZmUxNGQwMTAzMDk4MzIwMmJkYTIwOGFkOTliNzU6NzoxZGViOjFkMmIyMWJhZjE0MGU4YzY1Y2I0NzhiNzUyNjFlMGFhNjhlNmEyYTg3NDBhYmM0YjdmY2M2N2IzZWE5ODU3Yjg6aDpUOk4" title="Protected by Avanan: https://accountingfoundation.us3.list-manage.com/track/click?u=e043e1190253df702a1340ed7&id=4f5a3e351f&e=64fc75ed88">
www.gasb.org</a>.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial",sans-serif;mso-ligatures:none"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial",sans-serif;mso-ligatures:none">Public forums are scheduled for –<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial",sans-serif;mso-ligatures:none"><o:p> </o:p></span></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoListParagraph" style="margin-left:0in;mso-list:l0 level1 lfo3"><span style="font-size:11.0pt;font-family:"Arial",sans-serif;mso-ligatures:none">June 23 in Norwalk, CT<o:p></o:p></span></li><li class="MsoListParagraph" style="margin-left:0in;mso-list:l0 level1 lfo3"><span style="font-size:11.0pt;font-family:"Arial",sans-serif;mso-ligatures:none">July 13 – virtually<o:p></o:p></span></li><li class="MsoListParagraph" style="margin-left:0in;mso-list:l0 level1 lfo3"><span style="font-size:11.0pt;font-family:"Arial",sans-serif;mso-ligatures:none">July 23 – virtually<o:p></o:p></span></li></ul>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial",sans-serif;mso-ligatures:none"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial",sans-serif;color:black;mso-ligatures:none">NASACT will be preparing an association position on
</span><span style="font-size:11.0pt;font-family:"Arial",sans-serif;mso-ligatures:none">the document<span style="color:black">. To meet GASB’s deadline of
</span>June<span style="color:black"> </span>26<span style="color:black">, 2026, please send your comments to me no later than</span> the end of the day on<span style="color:black">
</span><u>Friday<span style="color:black">, </span>June 5</u><span style="color:black">.<b>
</b></span><b> </b><span style="color:black"><o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial",sans-serif;mso-ligatures:none"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial",sans-serif;mso-ligatures:none">Thank you,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial",sans-serif">Kim<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="mso-ligatures:none"><img border="0" width="95" height="95" style="width:.9895in;height:.9895in" id="Picture_x0020_2" src="cid:image001.png@01DCC771.15E20C80"></span><o:p></o:p></p>
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<p class="MsoNormal"><b>KIMBERLY O’RYAN, CPA<o:p></o:p></b></p>
<p class="MsoNormal">NASC Director<o:p></o:p></p>
<p class="MsoNormal">National Association of State Auditors, Comptrollers and Treasurers<o:p></o:p></p>
<p class="MsoNormal">(859) 276-1147<o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial",sans-serif;color:black">(859) 469-5120 (direct line)<o:p></o:p></span></p>
<p class="MsoNormal"><a href="https://www.nasact.org/" title="Protected by Avanan: https://www.seattle.gov/cityauditor">nasact.org</a><o:p></o:p></p>
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