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<title>GASB Issues Emergency Toolbox Addressing Issues Arising from COVID-19 Pandemic</title>
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">Hello CAFR Contacts,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">Please see the email below from the GASB and a toolbox they’ve put together on accounting and financial reporting issues that may arise due to the COVID-19 pandemic.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">If you have any questions, please feel free to reach out.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">Rob<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> Governmental Accounting Standards Board <gasbnews@gasb.org>
<br>
<b>Sent:</b> Friday, April 17, 2020 7:00 AM<br>
<b>To:</b> HAMILTON Robert W * DAS <Robert.W.HAMILTON@oregon.gov><br>
<b>Subject:</b> GASB Issues Emergency Toolbox Addressing Issues Arising from COVID-19 Pandemic<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" style="line-height:150%"><span style="font-size:9.0pt;line-height:150%;font-family:"Georgia",serif;color:#656565"><a href="https://mailchi.mp/gasb/gasb-issues-emergency-toolbox-addressing-issues-arising-from-covid-19-pandemic?e=9e9e9fbc46" target="_blank"><span style="color:#656565">View
this email in your browser</span></a> <o:p></o:p></span></p>
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<p class="MsoNormal"><a href="https://gasb.us3.list-manage.com/track/click?u=e043e1190253df702a1340ed7&id=f68fc461df&e=9e9e9fbc46" target="_blank"></a><a href="https://gasb.us3.list-manage.com/track/click?u=e043e1190253df702a1340ed7&id=f68fc461df&e=9e9e9fbc46" target=""_blank""><img border="0" width="316" style="width:3.2916in" src="https://gallery.mailchimp.com/e043e1190253df702a1340ed7/images/58bb65bf-1e3d-4199-92bd-2e71bd87ee33.png" align="left" title=""""></a><a href="https://gasb.us3.list-manage.com/track/click?u=e043e1190253df702a1340ed7&id=f68fc461df&e=9e9e9fbc46" target="_blank"></a><o:p></o:p></p>
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<h2><strong><span style="font-family:"Helvetica",sans-serif">GASB Issues Emergency Toolbox Addressing Issues Arising from COVID-19 Pandemic</span></strong><o:p></o:p></h2>
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<p class="MsoNormal" style="line-height:150%"><strong><span style="font-size:10.5pt;line-height:150%;font-family:"Georgia",serif;color:#2A2A2A">April 17, 2020—</span></strong><span style="font-size:10.5pt;line-height:150%;font-family:"Georgia",serif;color:#2A2A2A">As
previously announced, the Governmental Accounting Standards Board (GASB) has posted an
<a href="https://gasb.us3.list-manage.com/track/click?u=e043e1190253df702a1340ed7&id=fc799597a3&e=9e9e9fbc46">
<span style="color:#EF4142;text-decoration:none">Emergency Toolbox</span></a> to the COVID-19 Response page on its website. The toolbox is meant to provide a starting point for stakeholders to address accounting and financial reporting issues that may arise
during this uncertain period.<br>
<br>
There are two toolbox sections: <o:p></o:p></span></p>
<ul type="disc">
<li class="MsoNormal" style="color:#2A2A2A;mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;line-height:150%;mso-list:l0 level1 lfo1;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%">
<span style="font-size:10.5pt;line-height:150%;font-family:"Georgia",serif">GASB Guidance<o:p></o:p></span></li><li class="MsoNormal" style="color:#2A2A2A;mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;line-height:150%;mso-list:l0 level1 lfo1;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%">
<span style="font-size:10.5pt;line-height:150%;font-family:"Georgia",serif">Professional Organizations.<o:p></o:p></span></li></ul>
<p class="MsoNormal" style="line-height:150%"><strong><span style="font-size:10.5pt;line-height:150%;font-family:"Georgia",serif;color:#2A2A2A">GASB Guidance</span></strong><span style="font-size:10.5pt;line-height:150%;font-family:"Georgia",serif;color:#2A2A2A"><br>
Stakeholders can use the guidance section to quickly identify nearly two dozen topics under the GASB’s authoritative guidance that be may be relevant to the current circumstances.<br>
<br>
The topics reference the GASB’s <em><span style="font-family:"Georgia",serif">Codification of Governmental Accounting and Financial Reporting Standards,
</span></em>which can be accessed free of charge through the Governmental Accounting Research System™ (GARS) at
<a href="https://gasb.us3.list-manage.com/track/click?u=e043e1190253df702a1340ed7&id=571f279f75&e=9e9e9fbc46">
<span style="color:#EF4142;text-decoration:none">https://gars.gasb.org/</span></a>.<br>
<br>
The GASB provides a number of additional stakeholder resources that may be useful during this period on its website at
<a href="https://gasb.us3.list-manage.com/track/click?u=e043e1190253df702a1340ed7&id=66699440c2&e=9e9e9fbc46">
<span style="color:#EF4142;text-decoration:none">www.gasb.org/COVID19</span></a>.<br>
<br>
<strong><span style="font-family:"Georgia",serif">Professional Organizations</span></strong><br>
Stakeholders can use the links provided to professional organizations to obtain nonauthoritative recommendations for accounting and financial reporting and other financial management activities as governments deal with the effects of the pandemic.<br>
<o:p></o:p></span></p>
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Financial Accounting Foundation<br>
401 Merritt 7, PO Box 5116, Norwalk, CT 06856<br>
<a href="www.accountingfoundation.org"><span style="color:#EF4142;text-decoration:none">www.accountingfoundation.org</span></a>
<o:p></o:p></span></p>
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