Agenda Item
1. READY FOR ACTION – 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 adopt new Board Regulation DIB-R (2) Subscription-Based Information Technology Arrangements (SBITA) as a new regulation.
Why: Board regulation DIB-R(2 )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
Effective: Upon Board approval
Status: Attorney approval not required