long-term debt capital leases

Long-Term DebtLong-Term DebtCapital LeasesCapital Leases

James D. MooreSenior Accountant

Specialized Accounting DivisionAuditor-Controller’s Office

February 21, 2008

ObjectivesObjectives

Review departmental year-end responsibilities for capital leases.

Provide a checklist for convenient reference. Provide a useful tool for analyzing current

year lease activity.

Departments with County Debt Obligations & Capital LeasesDepartments with County Debt Obligations & Capital Leases

Departmental Year-end Departmental Year-end ResponsibilitiesResponsibilities

1. Maintain pertinent supporting documentation.

2. Update amortization (Excel worksheets) to reflect adjustments, deletions or additions.

3. Submit to the Auditor-Controller’s Office by May 16, 2008.

4. Submit appropriate documentation by fiscal year-end, June 30, 2008. No schedule Q. is needed any longer for your Capital Leases.

Capital Lease ObligationsCapital Lease Obligations

Checklist for your reference . . .Checklist for your reference . . .

Use the query to obtain principal and interest payments. You can create your query from the sample attached.

Reconcile the query to your Excel departmental amortization worksheet.

Compare and adjust as needed. If your Excel report (worksheet) does not equal the query, correct the amortization as needed.

Email query results and Excel lease amortization schedule to me by May 16, 2008.

Capital Lease Obligations Capital Lease Obligations

Let’s review how it was done in Let’s review how it was done in FY06-07.FY06-07.

County Capital Lease ObligationsCounty Capital Lease Obligations

The Tool (PeopleSoft Query) Con’t…The Tool (PeopleSoft Query) Con’t…

County Capital Lease ObligationsCounty Capital Lease Obligations

For principal, use range #532500-532680. For interest paid, use expense range #533700-533780.

Select your dept. here (see next slide) Use in-tree option.

The Tool (PeopleSoft Query) Con’t…The Tool (PeopleSoft Query) Con’t…

County Capital Lease ObligationsCounty Capital Lease Obligations

The Tool (PeopleSoft Query) Con’t…The Tool (PeopleSoft Query) Con’t…County Capital Lease ObligationsCounty Capital Lease Obligations

People-Soft Query Screens People-Soft Query Screens (version 8.8 FRP8 Environment)(version 8.8 FRP8 Environment)

Let’s review examples of what the new screen shots look like now (FY07-08)

Attached pages reflect version 8.8, People-Soft screenshots – to aid in running new queries for County Capital Leases (principal and interest payments for FY07-08)

Departments with County Debt Obligations & Capital LeasesDepartments with County Debt Obligations & Capital Leases

Departments with County Debt Obligations & Capital LeasesDepartments with County Debt Obligations & Capital Leases

Departments with County Debt Obligations & Capital LeasesDepartments with County Debt Obligations & Capital Leases

County Capital Lease ObligationsCounty Capital Lease Obligations

Departments with County Debt Obligations & Capital LeasesDepartments with County Debt Obligations & Capital Leases

County Capital Lease ObligationsCounty Capital Lease Obligations

County Capital Lease ObligationsCounty Capital Lease Obligations

County Capital Lease ObligationsCounty Capital Lease Obligations

County Capital Lease ObligationsCounty Capital Lease Obligations

Contact InformationContact InformationIf you require additional If you require additional assistance assistance

James D. Moore (951) 955-9462 jdmoore@co.riverside.ca.us

Jerry Wood (951) 955-3574

Jwood@co.riverside.ca.us

County Capital Lease ObligationsCounty Capital Lease Obligations