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CITY OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2020 <br /> <br /> <br /> <br /> <br />Note 18 RECENTLY ISSUED ACCOUNTING STANDARDS <br /> <br />The Governmental Accounting Standards Board (GASB) recently approved the following statements which <br />were not implemented for these financial statements: <br /> <br />Statement No. 87 Leases. The provisions of this Statement are effective for reporting periods beginning <br />after June 15, 2021. <br /> <br />Statement No. 91 Conduit Debt Obligations. The provisions of this Statement are effective for reporting <br />periods beginning after December 15, 2021. <br /> <br />Statement No. 92 Omnibus 2020. The provisions of this Statement are effective for reporting periods <br />beginning after June 15, 2021. <br /> <br />Statement No. 93 Replacement of Interbank Offered Rates. The provisions of this Statement contain <br />multiple effective dates, the first being for reporting periods beginning after June 15, 2020. <br /> <br />Statement No. 94 Public-Private and Public-Public Partnerships and Availability Payment Arrangements. <br />The provisions of this Statement are effective for reporting periods beginning after June 15, 2022. <br /> <br />Statement No. 96 Subscription – Based Information Technology Arrangements. The provisions of this <br />Statement are effective for reporting periods beginning after June 15, 2022 <br /> <br />The effect these standards may have on future financial statements is not determinable at this time, but it is <br />expected that Statement No. 87 may have a material impact. <br /> <br /> <br />Note 19 SUBSEQUENT EVENTS <br /> <br />On May 18, 2021, the City issued $2,970,000 of Series 2021A General Obligation Bonds. $2,085,000 of the <br />new issuance will be used for road reconstruction and repair. The remaining $885,000 will be used to refund the <br />2013B General Obligation Improvement Bonds. <br />85