Requested Agenda Date:
4/8/2025
Requested Agenda Title:
Budget Adjustment: Human Resources Requests an Appropriation Unit Shift of $319,285 from Personnel and Operations to Debt Services to Properly Account for the PayScale Software to Comply with Subscription-Based Information Technology Arrangements (SBITA) Requirements as Outlined in GASB 96. This Is a Post Year-End Budget Adjustment for 2024.
Requested Agenda Item Description: Payscale as an IT contract that requires unique accounting treatment for financial reporting. The accounting standard that this contract falls under is GASB statement no. 96 Subscription-based Information Technology Arrangements (SBITA). As a SBITA, financial transactions regarding Payscale will require a reclassification of budget and accounting entry in the 2024 financials.
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: Sharon Roux, Human Resources Director
Are Supporting Documents Needed for this Agenda Item Request? Yes