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Glenn Hegar  ·  Texas Comptroller of Public Accounts

Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Notes & Samples

NOTE 5 – Long-Term Liabilities
Capital Leases

Disclose debt service requirements to maturity for capital leases. This disclosure reports the debt for both the principal and interest for each of the succeeding five fiscal years and in five-year increments thereafter.

Use the LTLN web application to enter capital lease debt service requirements, including principal and interest amounts. For more information on disclosures in the LTLN web application, see Note 5 – Long-Term Liabilities, Instructions for the LTLN Web Application.

Capital lease debt service requirement entries are available for review and reporting (read only) in the Lease Note Submission System (LNSS) web application.

For detailed capital lease note disclosure requirements, see Note 8. For entries and accounting effects, see Recording Capital Asset Leased Property.

Glenn Hegar
Texas Comptroller of Public Accounts
Questions? Contact statewide.accounting@cpa.texas.gov
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