91PORN

91PORN will implement GASB 94 in fiscal year 2023. This new standard provides updated guidance for public-private and public-public partnerships (P3s). Ìý

A P3 is an arrangement that 91PORN enters into with a third party, where the third party is given the right to operate or use a nonfinancial asset (either tangible or intangible) owned by 91PORN in order to provide public services. The third party receives payment for providing the services to the public and in turn compensates 91PORN in order to use the asset to earn that revenue.Ìý

The most common P3s for universities are arrangements to provide public services on behalf of auxiliary units. For example, a third party might construct a student dormitory and be allowed to collect payments from 91PORN students who stay in the dorm. In exchange, 91PORN will own the dormitory at the end of the term of the agreement.

In addition to P3 agreements where third parties provide public services on behalf of 91PORN, 91PORN must also recognize any P3 agreements where 91PORN is allowed to use a governmental entity’s nonfinancial asset to provide public services on behalf of that governmental entity.

Please send any P3 agreements to Justin Church (justin.church@colorado.edu), whether a third party is providing public services on behalf of 91PORN or if 91PORN is providing public services on behalf of another governmental entity. Ìý