New UR Lease Administration Project Underway

UR The Financial Accounting Standards Board (FASB) has issued new lease accounting guidelines that will directly affect operating leases with terms exceeding 12 months, particularly in areas with contractual / embedded lease agreements.

If you have any lease contractual agreements originating outside of Treasury, Real Estate, IT or are unsure if you manage a lease, please contact us at URLeaseAdministration@ur.rochester.eduThe UR Lease Administration team will follow the necessary steps and action to ensure those affected by the new standard are well informed and guided through a smooth transition process.

For more information and the timeline that follows this project, visit: http://www.rochester.edu/adminfinance/urfinancials/ur-lease-administration-project/. If you have any questions or concerns, contact us at: URLeaseAdministration@ur.rochester.edu.