Government of the Virgin Islands

Buyer seeks qualified consultants to assist with implementing GASB 87 (Leases) and GASB 96 (Subscription-based Information Technology Arrangements) reporting requirements. The consultant will help identify, value, and report qualifying leases and SBITAs in the Government's annual financial statements. Services include data collection, contract review, applicability determination, and preparation of financial schedules for fiscal years 2023-2025. The contract period is 2 years.

• 6/13/2025 - Last Day for Written Clarification
• 7/2/2025 - Proposal Due Date

• Minimum of 5 years' experience in the subject matter area

• Identify all existing agreements and contracts for GASB analysis
• Review agreements to determine eligibility under GASB 87 and 96
• Document contract terms and calculate liability/asset values
• Provide comprehensive lists of included and excluded contracts
• Support discount rate selection for GASB computations
• Assist with journal entries and footnote disclosures
• Provide tracking tools for leases and SBITAs
• Develop framework for evaluating new contracts
• Document procedures for annual updating of lease reporting
• Respond to questions about GASB implementation