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GASB Statement No. 92i OMIII us*2026 The -objectives of this statement are to enhance comparability in accounting and financial reporting and. to improyerthe consistency of.authoritativO literature by addressing practice issues that have been Identified during implementation. and application.pfcertain. GASB Statements. This statement addresses a variety of topics:and ineludes.specifrc.prov€sions aboo.the fo.11owing: • The effective date of StatementNo. 87, Leases, and Implementation Guide No. 2019-3, Leases, for interim fnancialseports. • Reporting of iintra-entity transfers -of asse% between a. primary goyermnent employer -and a compouent. unit defined benefit pension plan or defined benefit other post -employment benefit (OPEB) plan • The applicability of Statements .No. 73, Accounting and Financial Repor tirng;jfbr Perisi6ns arid Related Assets That Are.Not within the Scope of GASB Statement 68. and Amendments 16 Cer in Provisions of GASB Statements 67 and .68, as amended, and No. 74, Financial Reporting. for Postemployment Benefil Plans Other Than Pension Plains, as amended; to reporting assets accumulated for post employment benefits • The applicability of certain requirements of ' Statenietrt No. 84, Fiduciary Activities, to post -'employment benefit arrangements • Measuronrent of liabilities (and assets,. if -any.) related to .asset retirement obligations in a government acquisition • Reporting bj public entity risk pools `for amounts that are recoverable from reinsurers or excess insurers • Reference to nonrecurring fair value measurements of assets or liabilities in authoritative literature • Terminology used to refer to derivative instruments The requirements. of this statement are: effective` forfiscal. years beginning. after June 15, 2021. Earlier. application is encouraged. GASB. Statement No. 96,.Subscripdon-Based Information Technology Arrangements This. -statement provides guidance on.. the accounting. and financial reporting for subscription -based. information technology arrangements (SBITAs) tot government end users (governments). This statement (1) def ines.a SBITA; .(2) establishes that:a SBITA results in a right -to -use subscription asset ---an intangible asset —and a corresponding subscription liability;.(3) provides the capitalization criten Abr outlays other than subscription payments, includingimplementation costs of a SBITA; and (4).requires note disclosures regarding a.SBITA. To the extent releyaht, the standards for SB1TAs are based*onthe standards.established. in. Statement No, 87; Leases, as amended. An SBITA is defined as ,a contract.. that conveys control of the right to use another parry's (an SBITA vendor's) information technology (IT) software, alone or in combination with tangible capital assets (the underlying IT assets), as specified in the. contract for a period of time .in an exchange or exchange -.like transaction. iTnder:this..statement, a government general€y should recognize a right -to -use subscription asset —an intangible asset -and a corresponding subscription liability. This statement provides an exception for short-term SBITAs with a maximum possible tenn urider the SBITA..contract.of 1.2 months, including..-ahy options to extend, regardless of their probability of being exercised. Subscription payments for short-term SB1TAs should be recognized as outflows..of resources. This statement requires a government to. disclose descriptive information about its SBITAs other than short-term SBITAs, such as the amount ofthe subscript"iowass64 accumulated amortizatiarV other payments :not included in the measurement of a subscription liability; principal and interest requirements foi the subscription liability, and other essential information. The requirements of this statement are effectivefor fiscal years beginning ,after :tune 15, 2022, and all reporting periods thereafter.