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If they keep this data siloed, then Procurement and Finance would not know to order more units or build that capacity in future budgets. In the early months of 2022, container ships stayed at ports in the United States for an average of seven days, a rate that has increased by 21% since the beginning of 2020.
Governments use these arrangements to access software applications, data storage, and processing capabilities without the need to own and maintain expensive IT hardware and software. This differs from traditional IT procurement, where governments would purchase hardware and software licenses upfront.
What your peers are doing: A study done in 2020 by Cherry Bekaert highlights just how local governments are looking at the impact of GASB 87 on their financial statements and shows where they are in the process of adopting the standard. Hint the auditors probably have it right!)
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