HomeMy WebLinkAbout3346-26 Adopting the Software Subscription-Based Information Technology Arrangement SBITA Capitalization Policy2
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RESOLUTION NO. 3346-26
A RESOLUTION BY THE BOARD OF DIRECTORS
OF THE SOUTH TAHOE PUBLIC UTILITY DISTRICT ADOPTING THE SOFTWARE
SUBSCRIPTION -BASED INFORMATION TECHNOLOGY ARRANGEMENT (SBITA)
CAPITALIZATION POLICY
WHEREAS, The South Tahoe Public Utility District enters into various Subscription -
Based Information Technology Arrangements (SBITA) with third party software
providers; and,
WHEREAS, The South Tahoe Public Utility District recognizes and meets the criteria
under the Government Accounting Standards Board (GASB) Statement No. 96;
and,
WHEREAS, The South Tahoe Public Utility District staff wish to establish a policy for its
GASB 96 SBITA contracts; and,
WHEREAS, The purpose of this policy is to establish accounting and reporting
procedures for SBITAs in accordance with GASB Statement No. 96. The policy is
intended to ensure consistent application of capitalization requirements while
balancing the administrative effort associated with recording and tracking SBITAs.
NOW, THEREFORE, BE IT RESOLVED that the Board of Directors of South Tahoe Public
Utility District hereby formally adopts the above -mentioned THE SOFTWARE
SUBSCRIPTION -BASED INFORMATION TECHNOLOGY ARRANGEMENT (SBITA)
CAPITALIZATION POLICY for the effective date of October 15, 2026 to go into
effect as of July 01, 2026. The attached SBITA Policy is hereby adopted and
becomes a part of this Resolution by reference herein.
WE, THE UNDERSIGNED, do hereby certify that the above and foregoing
Resolution No. 3346-26 was duly and regularly adopted and passed by the Board
of Directors of the South Tahoe Public Utility District at a Regular meeting held on
the 15'" day of October 2026, by the following vote:
AYES:Haven, Romsos, Sheehan, Henderson, Exline
NOES:
ABSENT:
Shane Romsos, Board President
South Tahoe Public Utility District
ATTEST:
-M,elonie Guttry, Execu ' e Services Manager/
Clem of the Board
South -Tahoe Public Utility District