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<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt">Good morning CAFR contacts!<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt">On behalf of Oregon state government, SARS registered to participate in the GASB 87 implementation survey which provides the board additional information about the time and costs
associated with implementing major Statements.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt">Participation does not require much effort or time, though the potential benefits to the standards-setting process could be substantial. Please do the following:<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt"><o:p> </o:p></span></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoNormal" style="text-align:justify;mso-list:l1 level1 lfo3"><span style="font-size:10.0pt">Keep track of the staff hours and non-staff costs* associated with completing the fiscal year end close process for
<b>FY 2021 </b>(the year prior to implementation). <o:p></o:p></span></li><li class="MsoNormal" style="text-align:justify;mso-list:l1 level1 lfo3"><span style="font-size:10.0pt">Keep track of the staff hours and non-staff costs* specifically associated with implementing Statement 87.
<o:p></o:p></span></li><li class="MsoNormal" style="text-align:justify;mso-list:l1 level1 lfo3"><span style="font-size:10.0pt">Please provide a description of any parts of Statement 87 that your agency found particularly difficult to apply.<o:p></o:p></span></li><li class="MsoNormal" style="text-align:justify;mso-list:l1 level1 lfo3"><span style="font-size:10.0pt">Keep track of the staff hours and non-staff costs* associated with completing the fiscal year end close process in
<b>FY 2022</b> (the year of implementation).<o:p></o:p></span></li><li class="MsoNormal" style="text-align:justify;mso-list:l1 level1 lfo3"><span style="font-size:10.0pt">Keep track of the staff hours and non-staff costs* associated with completing the fiscal year end close process in
<b>FY 2023</b> (the year after implementation).<o:p></o:p></span></li></ul>
<p class="MsoNormal" style="text-align:justify"><i><span style="font-size:10.0pt"><o:p> </o:p></span></i></p>
<p class="MsoNormal" style="text-align:justify"><i><span style="font-size:10.0pt">* Examples of non-staff costs include, but are not limited to,
</span>out-of-pocket expenditures for external auditors, consultants, and software, excluding costs for staff time.</i><i><span style="font-size:10.0pt">
<o:p></o:p></span></i></p>
<p class="MsoNormal" style="margin-left:.25in;text-align:justify"><span style="font-size:10.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt">GASB understands that most governments do not have a system that allows them to track hours and costs related to a particular Statement; however, the board hopes that by engaging
governments before they implement the standards, governments will be able to keep informal records that will enable them to make an informed and more accurate estimate of the staff hours and non-staff costs required to implement.
<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt">SARS created the attached Excel workbook to provide agencies a framework to track the necessary information. The workbook includes two tabs: 1)
<i>Example</i> and 2) <i>Agency Results</i>. Please refer to the <i>Example</i> tab to assist with completing the
<i>Agency Results</i> tab. <o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt">At the end of each fiscal year, SARS will send a request for agencies to submit the attached spreadsheet with the
<i>Agency Results</i> tab completed for the applicable time period. SARS will summarize the information for the enterprise and submit the aggregated results to GASB.
<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt">Please let me know if you have any questions. Thank you.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt">s<o:p></o:p></span></p>
<p class="MsoNormal"><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>
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