Note X - PPP (Operator)
A template for this note is not available. See "Instructions to preparer" for disclosures that may be required.
Instructions to preparer:
A government should disclose the following about its Public-Private and Public-Public Partnerships (PPP) contracts (which may be grouped for purposes of disclosure):
1. In the year of implementation, state that new accounting guidance was adopted.
Example:
During the year ended (fiscal year end), the (city/county/district) adopted guidance for the presentation and disclosure of Public-Private and Public-Public Partnerships (PPP), as required by the BARS manual. This requirement resulted in the addition of a liability reported on the Schedule of Liabilities.
2. A general description of PPP contracts, such as the PPP term, status of projects during the construction period, the amount of the monthly (quarterly/annual) payments, cancellation clauses, etc.
3. The total amount paid for PPPs in the current reporting period and future payments for each of the five subsequent years and in five-year increments thereafter.
Example:
The total amount paid for PPPs in 20XX was $XX. As of December 31, 20XX, the future payments are as follows:
|
Year ended December 31 |
Total |
|
20XX |
$ |
|
20XX |
$ |
|
20XX |
$ |
|
20XX |
$ |
|
20XX |
$ |
|
20XX-20XX |
$ |
|
20XX-20XX |
$ |
|
Total |
$ |