<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40">
<head>
<meta http-equiv="Content-Type" content="text/html; charset=us-ascii">
<meta name="Generator" content="Microsoft Word 15 (filtered medium)">
<style><!--
/* Font Definitions */
@font-face
{font-family:"Cambria Math";
panose-1:2 4 5 3 5 4 6 3 2 4;}
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:11.0pt;
font-family:"Calibri",sans-serif;}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:#0563C1;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:#954F72;
text-decoration:underline;}
p.MsoListParagraph, li.MsoListParagraph, div.MsoListParagraph
{mso-style-priority:34;
margin-top:0in;
margin-right:0in;
margin-bottom:0in;
margin-left:.5in;
margin-bottom:.0001pt;
font-size:11.0pt;
font-family:"Calibri",sans-serif;}
p.msonormal0, li.msonormal0, div.msonormal0
{mso-style-name:msonormal;
mso-margin-top-alt:auto;
margin-right:0in;
mso-margin-bottom-alt:auto;
margin-left:0in;
font-size:12.0pt;
font-family:"Times New Roman",serif;}
span.EmailStyle19
{mso-style-type:personal;
font-family:"Calibri",sans-serif;
color:windowtext;}
span.EmailStyle20
{mso-style-type:personal;
font-family:"Calibri",sans-serif;
color:#1F497D;}
span.EmailStyle21
{mso-style-type:personal-reply;
font-family:"Calibri",sans-serif;
color:#1F497D;}
.MsoChpDefault
{mso-style-type:export-only;
font-size:10.0pt;}
@page WordSection1
{size:8.5in 11.0in;
margin:1.0in 1.0in 1.0in 1.0in;}
div.WordSection1
{page:WordSection1;}
--></style><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]-->
</head>
<body lang="EN-US" link="#0563C1" vlink="#954F72">
<div class="WordSection1">
<p class="MsoNormal">Good afternoon.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">CAFR Contacts,<o:p></o:p></p>
<p class="MsoNormal">Today GASB issued <a href="https://www.gasb.org/jsp/GASB/Document_C/DocumentPage?cid=1176174599833&acceptedDisclaimer=true">
Statement 95</a>, <i>Postponement of the Effective Dates for Certain Authoritative Guidance</i>, which includes the following guidance:<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Postpones by <u>one year</u> the effective dates of certain provisions in the following pronouncements:<o:p></o:p></p>
<p class="MsoNormal">Statement No. 83, Certain Asset Retirement Obligations<o:p></o:p></p>
<p class="MsoNormal">Statement No. 84, Fiduciary Activities<b>*</b><o:p></o:p></p>
<p class="MsoNormal">Statement No. 88, Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements<o:p></o:p></p>
<p class="MsoNormal">Statement No. 89, Accounting for Interest Cost Incurred before the End of a Construction Period<o:p></o:p></p>
<p class="MsoNormal">Statement No. 90, Majority Equity Interests<o:p></o:p></p>
<p class="MsoNormal">Statement No. 91, Conduit Debt Obligations<o:p></o:p></p>
<p class="MsoNormal">Statement No. 92, Omnibus 2020<o:p></o:p></p>
<p class="MsoNormal">Statement No. 93, Replacement of Interbank Offered Rates<o:p></o:p></p>
<p class="MsoNormal">Implementation Guide No. 2017-3, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions (and Certain Issues Related to OPEB Plan Reporting)<o:p></o:p></p>
<p class="MsoNormal">Implementation Guide No. 2018-1, Implementation Guidance Update—2018<o:p></o:p></p>
<p class="MsoNormal">Implementation Guide No. 2019-1, Implementation Guidance Update—2019<o:p></o:p></p>
<p class="MsoNormal">Implementation Guide No. 2019-2, Fiduciary Activities<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Postpones the effective dates of the following pronouncements by
<u>18 months</u>:<o:p></o:p></p>
<p class="MsoNormal">Statement No. 87, Leases<o:p></o:p></p>
<p class="MsoNormal">Implementation Guide No. 2019-3, Leases. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">The provisions of Statement 95 are <u>effective immediately</u>. 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.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b>*Note</b>: Oregon will implement GASB Statement 84, <i>Fiduciary Activities</i>, in fiscal year
<b>2020</b>.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Happy Friday everyone!<o:p></o:p></p>
<p class="MsoNormal">s<o:p></o:p></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></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"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"><a href="https://www.oregon.gov/das/financial/acctng/pages/index.aspx"><span style="color:blue">https://www.oregon.gov/das/financial/acctng/pages/index.aspx</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"><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>
</div>
</body>
</html>