Agenda Item
2. FIRST READ – Amendment to the Bylaws & Policies: Board Policy DIB, New Board Regulation: DIB-R (2) Subscription-Based Information Technology Arrangements (SBITA)
Summary: Presented by: Mr. Byron Schueneman, Chief Financial Officer, Division of Finance, 678.676.0278
Request: It is requested that the Board of Education lay the new Board Regulation DIB-R (2) Subscription-Based Information Technology Arrangements (SBITA) on the table as a FIRST READ and Board feedback until the June 12, 2023 Board Meeting where the new regulation will receive final approval.
Why: Board regulation DIB-R2 Subscription-Based Information Technology Arrangements is presented as a new regulation. The purpose is to ensure compliance with Government Accounting Standards Board (GASB) Statement No. 96, Subscription-Based Information Technology Arrangements. The new regulation discusses district procedures and GASB 96 requirements as a guide to help the district remain compliant with the new standard.
Details: GASB Statement No. 96, Subscription-Based Information Technology Arrangements went into effect for all reporting periods after June 30, 2022. To ensure the district’s compliance with GASB 96, Finance has developed a regulation to help in the accounting and reporting decision-making process for subscription-based IT assets. This regulation should be used as a guide when deciding how subscription-based technology agreements should be accounted for and reported on.
Financial impact: There is no financial impact to the district.
Contact: Mr. Byron Schueneman, Chief Financial Officer, Division of Finance, 678.676.0278
Mr. Lance McConkey, Comptroller, Division of Finance, 678.676.0445
Mr. Jim Dawson, Director of Financial Reporting, Division of Finance, 678.656.4399
Mr. Stephen Mayer, Capital Assets Manager I, Division of Finance, 678.521.2423
Effective: Upon Board approval
Status: Attorney approval not required