GENERAL SERVICES ADMINISTRATION
Washington, DC 20405
CFO IL-19-01, EXTENDED
May 28, 2019; Extended on May 26, 2021; Extended on May 28, 2022; Extended on May 2, 2023; Extended on May 21, 2024
GSA INSTRUCTIONAL LETTER
SUBJECT: GSA Implementation of Statement of Federal Financial Accounting Standard (SFFAS) 49, Public-Private Partnerships
1. Purpose. This Instructional Letter (IL) provides the policy on the implementation and administration of the Federal Accounting Standards Advisory Board’s (FASAB’s) SFFAS 49, including Agency Financial Report (AFR) reporting requirements and controls.
2. Background. The SFFAS 49 helps achieve the operating performance and budgetary integrity objectives outlined in Statement of Federal Financial Accounting Concepts (SFFAC) 1, Objectives of Federal Financial Reporting, by making Public-Private Partnerships (P3s) more understandable. This Statement establishes principles to ensure that any necessary disclosures about P3s are presented in AFRs. Policies and procedures contained in this IL provide guidance and direction regarding definitions and mechanisms to be applied to ensure GSA complies with the reporting requirements of SFFAS 49.
3. Coverage. The provisions of this IL apply to all GSA Services and Staff Offices (SSOs).
4. Scope and Applicability. This IL applies to the disclosure of P3s GSA is a party to, which could affect the financial reporting in GSA’s AFR, effective immediately.
U.S. General Services Administration