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GASB Statonent No. 92, Omnibus 2020 The -objectives of this statement are to enhance comparability in accounting and financial reporting and to. inipMve the consistency of authoritative IiteratUre by addressing.practice issues that have been. identified during' implementation and:application-.of certain GASB Statements. This statement addresses:a variety of topics;and includes.specifre-provisions about the following: • The. effe6tive date of Statement No. 87, Leases, and Implementation Guide No. 20.19-3, Leases, for interim financial reports: • Reporting of intra-entity transfers of assets between a primary.government employer and a component unit defined benefit pension plan or defined. benefit other post-.4mployment benefit (OPEB). plan.. V The applicability of Statements No. 73; Accounting. and Financial Reporting f& Pensions and .Related Assets. That Are Not within -the Scope of GASB Statement 68, and Arrmend nents.to Certain ,Provisions of- *GASB .Stahwnents. V and 68, as amended, and No. 74; Financial Reporting for Postemployment Benefit Plans. Other Than. Pension Plans, as amended, to reporting assets :accumulated for post -employment- benefits. • The applicability of certain requirements of Stat merit No. 84; Fiduciary. ,Activities,, to. post -employment benefit arrangements. • Measurement of liabilities (and assets, if any) related to asset retirement obligations -in a government acquisition. Reporting by 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 litetaturiL • T&ffiinology used to refer to derivative.instruments. The requirements of: this statement are effective for #isca.I years .beginning after June 1.5; .,202I. Earlier application is encouraged. GASB StatementNo. 9.6, Subscription4ased Information Technology Arrangements This statement provides guidance on the accounting. and financial. reporting for subscription -based information technology arrangements (SBITAs) :for government erid users (governments). This statement (1).defines a SBITA; (2) establishes. that a SBITA.results in a right=ta-use subscription asset ---an intangible asset —and a corresponding subscription liability; (3) provides the capitalizatibh criteria for outlays other than subscription payments, including implementation costs of a SBITA; and (4) regpires note disclosures regarding a SBITA. To the extent relevant, the standards for SB1TAs are based on the 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- party's (an SBITA vendor's) information technology (17)software, alone :or in combination with tangible capital assets: (the underlying IT assets), as specified.irr the contract for a period ol~,gme in an, exehange or:exchange-like transaction. Under this statement; a. government generally should recognize a xight-to-use. subscription asset -an intangible asset, —and a corresponding. subscription liability.. This statement provides an. exception for short-term SBJTAs with a maximum possible term under the SB.ITA contract of 1:2 .rrronths, including any options to extend, regardless of their probability of being exercised. Subscription payments for -short-term SB.IT. M. should'be recognized as outflows of resources. This statement requires a. government to disclose descriptive * hifairmation about its SBiTAs other than short-term SBITAs, suchas-the-amount ofthe subscription asset, accumulated amortization; other payments not included in the measureaient:-of.a subscription liability, principal and interest requirements for the subscription liability, and.other essential information. The requirements of this. statement are effective.for'fiscal years beginning alter June 15, 202.2, and all reporting periods thereafter. -2.1:.