Public Private Partnerships: From Accounting to Implementation

The National Association of State Auditors, Comptrollers and Treasurers (NASACT), in conjunction with the Association of Government Accountants and the Association of Local Government Auditors, is pleased to announce the latest in its series of events addressing timely issues in government auditing and financial management. Budget shortfalls are requiring states to fundamentally re-assess their approaches to the delivery of public services. At the same time, increasing investment in the nations critical infrastructure is required to maintain and enhance economic competitiveness. An increasing number of state and local government agencies are now turning to the private sector to assist in the financing and delivery of public infrastructure through the use of Public Private Partnerships (P3). Under these P3 models, consortia of private companies assume responsibility for the design, construction, financing and operation of new or existing public infrastructure under a variety of different models. The Port of Baltimore will be discussed as a successful P3 case study during the webinar. Recognizing the increased usage of P3 models, in November 2010 the Governmental Accounting Standards Board (GASB) issued Statement No. 60, Accounting and Financial Reporting for Service Concession Arrangements. Common examples of service concession arrangements discussed in GASB No. 60 include long-term arrangements involving toll roads, hospitals, and student housing. The statement provides guidance on transferor accounting and financial reporting for facilities and related payments from an operator and how to record the associated obligations of the government. This webinar will: Outline the drivers for P3 projects. Identify sectors where P3 delivery models have been used or potentially could be used. Describe a number of P3 delivery models, Provide case studies of recent P3 transactions, the practical implications of each and the lessons learned for future projects. Highlight specific examples and identify considerations for states considering future P3 projects to improve infrastructure delivery. Discuss the accounting and financial reporting for different P3 models in the context of GASB Statement No. 60. Digital Download in WMV file format of the LIVE broadcast of the Tuesday, March 15, 2011 webinar, hosted by NASACT and AGA, in conjunction with the Association of Local Government Auditors.