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<p class="MsoNormal">Good afternoon.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">The Government Accounting Standards Board (GASB) issued statement 84 which establishes criteria for identifying fiduciary activities and provides guidance on reporting those activities. The new reporting requirements take effect
<u>July 1, 2019</u>.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">In preparation for GASB 84 implementation, agencies need to evaluate all activities associated with the agency holding funds on behalf of individuals or other entities. Agencies need to ensure accounting profiles are capable of recording
revenues and expenditures associated with fiduciary activities. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">In the event the agency needs a new SFMA appropriation profile (D20), please send an appropriation profile request to
<a href="mailto:orbits.help@state.or.us">orbits.help@state.or.us</a> that includes the following information:<o:p></o:p></p>
<p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo2"><![if !supportLists]><span style="font-family:Symbol"><span style="mso-list:Ignore">·<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]>Trust/custodial fund subject to GASB 84<o:p></o:p></p>
<p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo2"><![if !supportLists]><span style="font-family:Symbol"><span style="mso-list:Ignore">·<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]>Authority to be non-budgeted<o:p></o:p></p>
<p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo2"><![if !supportLists]><span style="font-family:Symbol"><span style="mso-list:Ignore">·<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]>Current D23 fund<o:p></o:p></p>
<p class="MsoListParagraph"><o:p> </o:p></p>
<p class="MsoNormal">Save the date! SARS will be providing GASB 84 implementation training on May 23, 2019. Registration will be available in iLearn soon. We look forward to seeing you in May.<o:p></o:p></p>
<p class="MsoNormal">s<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b>Stacey A. Chase<o:p></o:p></b></p>
<p class="MsoNormal">Senior Financial Reporting & Policy Analyst<o:p></o:p></p>
<p class="MsoNormal">Chief Financial Office<o:p></o:p></p>
<p class="MsoNormal">Department of Administrative Services<o:p></o:p></p>
<p class="MsoNormal">Phone: (503) 947-8567<o:p></o:p></p>
<p class="MsoNormal"><a href="https://www.oregon.gov/das/financial/acctng/pages/index.aspx"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">https://www.oregon.gov/das/financial/acctng/pages/index.aspx</span></a><span style="font-size:10.0pt;font-family:"Arial",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">Data Classification: Level 1 - Published</span><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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