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2022 Key Planning Dates for Governments

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It seems that 2021 continued the 2020 trend and made innovators and change-makers of us all, with governments leading the charge. This constant change, though exciting, makes it nearly impossible to plan for 2022, so the governmental team at Maner is here to help. We’ve broken down three key dates for 2022 to help you and your team plan and perform in what is shaping up to be another year of rapid transformation!

January 1, 2022

This date represents the implementation of the Michigan Department of Treasury’s project, the revised Uniform Chart of Accounts (UCA). The Department has provided numerous webinars talking about implementation requirements and best practices. The time to put those in action has arrived! The UCA must be implemented beginning with fiscal years ending October 31, 2022, but this implementation should take place at the beginning of the fiscal year. So, for governments with a year ending December 31, 2022, the implementation should happen on January 1, 2022. If you’re a June 30, 2023 year-end, you’ll want to implement UCA on July 1, 2023.

January 31, 2022, OR April 30, 2022

These two dates relate to reporting deadlines for the American Rescue Plan Act (ARPA) funds. These reports have numerous required elements, so it’s important to start planning now!

The first date, January 31, 2022, is the deadline for the first Project and Expenditure Report if you are a city or county that has more than 250,000 residents OR if you are a city or county that has less than 250,000 residents, but you received more than $10 million in ARPA funds. This initial report will have information from March 3, 2021, through December 31, 2021. After that, another Project and Expenditure Report will be required for each quarter within 30 days. This means your other key dates for 2022 are April 30, 2022, July 31, 2022, and October 31, 2022.

If you’re considered a Non-Entitlement unit (NEU) or you are a city or county that has less than 250,000 residents AND received less than $10 million in ARPA funds, then your first Project and Expenditure report is due on April 30, 2022. This first report will cover information from March 3, 2021, through March 31, 2022. The next report won’t be due until April 30, 2023.

June 15, 2022

This date represents the implementation of Governmental Accounting Standards Board (GASB) Statement No. 96. For governments that have a fiscal year beginning after June 15, 2022 and all reporting periods after this, Statement No. 96 will be applicable. Statement No. 96 relates to Subscription-Based Information Technology Arrangements (SBITA) and follows pretty closely along with Statement No. 87 (which was implemented for fiscal years beginning after June 15, 2021). SBITAs are a contract that conveys control of the right to use another party’s software, whether along or in conjunction with a related tangible asset. Similar to Statement No. 87, the government will recognize a right-to-use subscription asset (which would be an intangible asset) and a related subscription liability. Now is a great time to start looking through your subscriptions and identifying those that may fall under this standard! As you’re assessing, keep in mind that the standard applies only to SBITAs where the subscription term is more than one year.

Need some help?

If these dates, reports, and implementations have your mind whirling, know that you aren’t alone! It’s a lot to learn and keep track of, so reach out to the Maner governmental experts and let us support your government and help you focus on your next move.

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