GASB Requests Indian Country’s Feedback on Public-Private Partnerships and Cloud Computing


GASB Requests Indian Country’s Feedback on Public-Private Partnerships and Cloud Computing

December 12, 2017

Deadline for Feedback is Friday, January 5, 2018

The Governmental Accounting Standards Board (GASB) is conducting two surveys of financial statement preparers whose governments engage in cloud computing arrangements or public-private partnerships. The surveys are part of a GASB research effort to evaluate current practice and the effectiveness of existing guidance.

Public-Private Partnerships:

Many tribes have participated in the Low-Income Housing Tax Credit, New Markets Tax Credit, and other public-private partnership (P3) programs. P3s are transactions in which a tribe or local government contracts with another entity to design, build, or operate infrastructure assets or other capital assets. These entities are generally companies but may also be non-profit organizations or other governments. Does your tribe participate in P3 programs? If so, do you feel the existing GASB standards appropriately capture the economic substance of service concession agreements? Share your thoughts on public-private partnerships by completing the survey

Cloud Computing Arrangements:

Tribal governments are increasingly using cloud computing services for accounting and operations management, storage, gaming-related software needs, and payroll services. These transactions often involve long-term contracts where the tribe receives the right to use the software or hardware without ownership. The features of these arrangements do not provide clarity in determining if the contract results in an asset and a related liability or a period expense. Share your thoughts on cloud computing arrangements by completing the survey.


Public-Private Partnership Survey

Cloud Computing Survey

Public-Private Partnerships, including reexamination of Statement 60 (P3)

Information Technology Arrangements, including Cloud Computing