UPDATE: Due to the COVID-19 pandemic the Governmental Accounting Standards Board (GASB) voted unanimously to delay the implementations of these GASBs for one year. The effective date for GASB 87, lease implementation will now be July 1, 2021 for fiscal year (FY) 2022. Current accounting guidelines for operating and capital lease will remain until June 30, 2021. All short-term, long-term and contingent rentals will continue to be paid as they are today throughout FY 2021. Click here to view the memo from our office.
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