Compensating Municipalities for Implementation Costs of PSAB 3150

Year: 2008


Therefore be it resolved that SUMA lobby the Provincial Government to provide support similar to that of the school tax credit to municipalities to aid in the implementation of the PSAB 3150 standards for Tangible Capital Asset reporting.

Provincial Response

Response: • The Ministry, in co-operation with SUMA, SARM, UMAAS, RMAAS, municipal auditors and the Institute of Chartered Accountants of Saskatchewan (ICAS),is working to provide guidance, instruction, and direction to assist municipalities in complying with PSAB 3150. • Training on tangible capital asset reporting was provided by the Ministry to municipalities in October 2007, and will continue at the annual administrator conventions in the spring of 2008. • Feedback received during the October 2007, training is currently being reviewed and acted on by the Ministry. • In addition, Municipal Affairs is currently consulting with municipal representatives and exploring options for assisting municipalities in complying with PSAB 3150.

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