Reporting Requirements for Annual Financial Reports of State Agencies and Universities
Notes & Samples
NOTE 5 – Long-Term Liabilities
Leases/SBITAs
GASB 87 established accounting and financial reporting standards for right to use lease obligations.
GASB 96 established accounting and financial reporting standards for right to use subscription obligations.
Use the LTLN web application to enter right to use lease obligations and right to use subscription obligations. Enter the applicable amounts and other information.
Available data entry fields include:
- Additions
- Reductions
- Other Changes
- Due Within One Year
Briefly describe the uses of leases or SBITAs in the NOTE DISCLOSURE field.
For more information on the LTLN web application, see Note 5 – Long-Term Liabilities, Instructions for the LTLN Web Application.
For detailed lease or subscription-based information technology arrangements (SBITAs) note disclosure requirements, see Note 8 – Leases/SBITAs.