40.60 Accounting for Leases

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40.60 Accounting for Leases

2022-06-30

Sections

• 40.60.10 Right-To-Use Lease Agreements
  • 40.60.10.1 Short-Term Leases
  • 40.60.10.2 Financed Purchases
  • 40.60.10.3 Facilities Portfolio Management Tool
  • 40.60.10.4 Lease Term
  • 40.60.10.5 Valuing Lease Liability
  • 40.60.10.6 Contracts with Multiple Assets or Components
• 40.60.20 Right-To-Use Lease Agreements as Lessee
  • 40.60.20.1 Governmental Funds (Lessee)
    
    • 40.60.20.1.a Periodic Lease Payments
    • 40.60.20.1.b Short-Term Liability/Amortization Adjustment
    • 40.60.20.1.c Amortization Entries
    • 40.60.20.1.d Liability Reclassification Entries
    • 40.60.20.1.e End of Lease Entries
• 40.60.20.2 Proprietary Funds (Lessee)
  • 40.60.20.2.a Periodic Lease Payments
  • 40.60.20.2.b Budgeted Proprietary Fund
  • 40.60.20.2.c Amortization
  • 40.60.20.2.d Reclassification Entries
  • 40.60.20.2.e End of Lease Entries
• 40.60.30 Right-To-Use Lease Asset (Lessor)
• 40.60.30.1 Entries for Right-To-Use Lease Asset (Lessor)
  • 40.60.30.1.a Initial Entries
  • 40.60.30.1.b Re-Classify Revenue Entries
  • 40.60.30.1.c Year-End Deferred Inflow Entries
  • 40.60.30.1.d Re-Classify Long-Term to Short-Term Entries
  • 40.60.30.1.e Allowance for Uncollectible Entries
  • 40.60.30.1.f Lease End Entries
• 40.60.30.2 Governmental Funds (Lessor)
• 40.60.30.3 Proprietary Funds (Lessor)
  • 40.60.30.3.a Discounted Rent
  • 40.60.30.3.b Short-Term and Non-Capitalized Leases
  • 40.60.30.3.c Financial Statements Materiality