New York State will implement Governmental Accounting Standards Board Statement (GASBS) 101  –  Compensated Absences beginning with the fiscal year 2024-25 annual financial statements. GASBS 101 is an update to GASBS 16 and requires the State to consider other types of compensated leave such as holiday, parental and jury duty when determining the State’s liability.   

OSC has completed our analysis based upon information shared with us from time and attendance personnel at the reporting entities and has finalized the implementation plan.  We communicated this plan along with next steps with personnel from each reporting entity.  The cooperation of all reporting entities staff to ensure proper enrollment in the reporting system as well as long-term maintenance is much appreciated. 

GASB Reporting Tools

Information on all reportable GASBS 87 leases must be reported on a quarterly basis using the following templates.

Statement 87, Leases

New Lease Reporting Template – Lessee

New Lease Reporting Template – Lessor (revenue)

Lease Modification Reporting Template – Lessee

Lease Modification Reporting Template – Lessor (revenue)

Statement 96, Subscription-Based IT Arrangements (SBITA)

Information on all reportable GASBS 96 SBITAs must be reported on a quarterly basis using the following templates.

SBITA Reporting Template

SBITA Modification Reporting Template

Upcoming Training Sessions

No training sessions are scheduled at this time.

Agency Guidance

GASBS 87, Leases

Defining a Lease Under GASBS 87 

Understanding Lease Terms

• Noncancelable Lease Period
• Early Termination Period
• Lease Extension
• Use of Underlying Assets
• Fiscal Funding Clause

Making a "Reasonably Certain" Determination 

GASBS 87 Applicable Lease Types 

• Payable Leases
• Revenue Leases
• Subleases
• Sale-leasebacks
• Lease-leasebacks
• Software as Leases Subject to GASBS 87 and Reporting Subscriptions

Variable Payment Types for Payable and Revenue Leases 

• Fixed in Substance
• Based on an Index or Rate
• Based on Usage or Future Performance 

GASBS 96, SBITA

Agency Guide to GASB Statement 96

Reporting Variable Payments

Determining Whether Purchases from OGS Centralized Contracts are Short- or Long-Term SBITAs

More GASB Resources 

Delivered By	Resource
GASB	Statement No. 101, Compensated Absences
Leases
GASB	Statement No. 87, Leases
GASB	Implementation Guide No. 2019-3, Leases
GASB	Implementation Guide No. 2020-1, Implementation Guidance Update—2020
Office of the State Comptroller KPMG	Reasonably Certain Criteria – November 13, 2020 (Presentation)
KPMG	Documenting Contract Reviews and Other Implementation Considerations (Video)
KPMG	Fixed vs. Variable Payments (Video)
KPMG	Reasonably Certain Criteria (Video)
Office of the State Comptroller	Guide to Financial Operations XVI.4.O - Intangible Right-To-Use Assets
Public-Private Partnerships and Public-Public Partnerships
GASB	Statement No. 94, Public-Private Partnerships and Public-Public Partnerships
Office of the State Comptroller KPMG	Other Accounting Pronouncement Considerations: GASB 94 and GASB 96 – November 13, 2020 (Presentation)
GASB	Other Accounting Pronouncement Considerations: GASB 94 and GASB 96 (Video)
Subscription-Based Information Technology Arrangements
GASB	Statement No. 96, Subscription-Based Information Technology Arrangements
Office of the State Comptroller KPMG	Other Accounting Pronouncement Considerations: GASB 94 and GASB 96 – November 13, 2020 (Presentation)
GASB	Other Accounting Pronouncement Considerations: GASB 94 and GASB 96 (Video)

Questions

Email [email protected]