6.2 Some agreements require the return of a facility in a particular state. If the striking information, i.e. visible or known to the institution, indicates that the facility is not in the stated condition and that the cost of restoring the facility in that condition can reasonably be estimated, liability and, in general, a cost of restoration of the facility should be reported. Institutions acting as economic operators are not required to implement additional procedures to identify potential defects that go beyond the deficiencies already required in their normal operation or agreement. Some P3s meet the definition of a service concession agreement (CSA). Statement 94 contains a transfer of SCA`s accounting obligations in Return 60, with amendments to apply the broader requirements for the recognition and evaluation of leases to SCS. (d) the institution is entitled to a substantial residual interest in the performance objective of the schedule at the end of the agreement. This statement relates to service concession agreements (SCAs) that constitute a kind of public-private or public-public-public partnership. The concept of public-private partnership refers to a large number of service agreements, management agreements and SCAs. The terms of an CAS may include payments made by the operator to the government for the right to build, operate and collect royalties for the use of infrastructure or other public assets and provide for a distribution of revenues between the government and the operator for the duration of the agreement.
The purpose of this directive is to provide guidelines for statement 60 of the Governmental Accounting Standards Board (GASB) on the financial statements of the University of Texas. If so, please contact the U.S. T. System Office of the Controller at firstname.lastname@example.org in order to obtain assistance in determining the appropriate accounting and reporting. GASB Statement 60 can be downloaded from GASB`s website www.gasb.org. Although public institutions and universities enter into a wide range of outsourcing agreements, mainly for aid companies (sports facilities, student residences, bookstores and food services), the provisions of this standard apply only if all four criteria are met. Gasb 60 examines the types of agreements that are not covered by the criteria set out in points 30 to 35. These sections are accompanied by five types of agreements that do not fall within the scope of GASB 60.