Leases—Statement 87—Stage One

Leases—Statement 87—Stage One

PIR Topic: Statement No. 87, Leases

Background: Statement 87 was issued in June 2017. Subsequent to Statement No. 95, Postponement of the Effective Dates of Certain Authoritative Guidance, it is effective for fiscal years beginning after June 15, 2021, and all reporting periods thereafter.

History:
  • PIR initiated: May 2019
  • Administration of cost and effort surveys commenced: January 2021
  • Archival data collection commenced: July 2022
Current Developments: Cost surveys for pre-implementation, implementation, and post-implementation years continue to be conducted and related reminders sent on a monthly basis, as applicable based on implementation dates provided by volunteers. Staff collected annual financial reports for archival analysis.

Work Plan:
 
Board Meetings Activities
September–December 2023 Analyze pre-implementation year data.
September 2023–June 2024 Conduct cost survey for volunteers that are implementing Statement 87 in accordance with the extended effective date and archival analysis for Statement 87 implementation year.
September 2023–December 2024 Analyze implementation year data.
June 2023–December 2024 Conduct cost survey for volunteers that are implementing Statement 87 in accordance with the extended effective date and archival analysis for post-implementation year.
January 2024–
June 2025		 Conduct cost survey for volunteers that are implementing Statement 87 in accordance with the extended effective date and archival analysis for post-implementation year.
June 2024–
June 2026		 Analyze post-implementation year data; prepare final summary for initial archival and survey results.
June 2026 Continue stage two activities.
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