The Battle about Money
The education industry provides a significant market for real property square-footage. Operation and management of that square-footage — often widely scattered across the globe — is a consideration in our lower #TotalCostofOwnership agenda. The Government Accounting Standards Board (FASB) has posted a public commenting opportunity on the answers to 81 questions that were posed in earlier drafts of its Implementation Guidance for Leases.
The requirements of this Implementation Guide apply to the financial statements of all state and local governments (which likely include school districts and public colleges, universities and technical schools). The objective of this Implementation Guide is to provide guidance that clarifies, explains, or elaborates on the requirements of Statement No. 87, Leases. You may enter your comments on the exposure draft linked below:
GASB EXPOSURE DRAFT—IMPLEMENTATION GUIDE—LEASES
Comments are due April 30th. Note that you will have to conform to GASB’s requirements for public comment. We follow the GASB suite, but do not advocate here. We are simply passing along the commenting opportunity. Administrative burden is often cited as an explanation for the rising costs of education so, to that extent, we have an interest in the future of this document. We encourage user-interest stakeholder in the administrative branches of educational organizations to collaborate directly with across the entire span of GASB consensus documents.
Of course, we are open every day at 11 AM Eastern time to walk through any standard. We also devote one hour every month to Finance & Management standards. See our CALENDAR for the next online teleconference.
Issue: [19-61]
Category: Finance & Management, Facility Asset Management
Colleagues: Richard Robben, John Kaczor, Matt Prozaki
#StandardsConnecticut
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Open for Comment / Finance