Wayne County adopts GASB 96 SBITA policy, sets $50,000 capitalization threshold
The board adopted Resolution No. 27-02 implementing GASB Statement No. 96 for Subscription Based Information Technology Agreements and set a $50,000 right-to-use capitalization threshold for county reporting.
The full story
The Wayne County Board of Supervisors adopted Resolution No. 27-02 to implement GASB Statement No. 96 on Subscription Based Information Technology Agreements (SBITA). The policy instructs departments to recognize intangible subscription assets when a contract conveys control of the right to use software or related IT assets for more than twelve months and clarifies which agreements are excluded.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.
Keep reading for free
Create a free account to finish this story and see the video, transcript and key details.
Continue with GoogleContinue with emailAlready have an account? Log in