Requested Agenda Date:
3/26/2024
Requested Agenda Title:
Title
Budget Adjustment: This is a 2023 post year-end budget adjustment. Information Technology requests an appropriation unit shift of $122,804 from operating expenditures to capital expenditures to recognize Subscription-Based Information Technology Arrangements (SBITA) capitalization for the Rubik software in order to comply with the SBITA requirement outlined in Governmental Accounting Standards Board (GASB) 96.
Body
Requested Agenda Item Description: This appropriation unit shift is necessary to allow for the recognition of Rubrik software as an asset in accordance with GASB 96 (SBITA) accounting rules.
Requested Action: Discussion - Vote Needed
Presenter(s) (with titles): Hoa Nguyen, Council Budget and Policy Analyst
Time Needed: Less than 5 MINS
Is this Item Time-Sensitive and/or Requesting a Time-Certain? No
Requesting Staff Member: Zach Posner, Chief Information Officer, Information Technology
Are Supporting Documents Needed for this Agenda Item Request? Yes