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NOTE 9. Leases

As of September 30, 2007 and 2006 Leases consisted of the following:

Leases as of September 30, 2007 and 2006
(Dollars in Thousands)

Entity as Lessee
Capital Leases:	2007	2006
Summary of Assets Under Capital Lease:
Buildings	$8,190	$6,899
Accumulated Depreciation	$(2,653)	$(2,160)
Net Assest under Capital Leases	$5,537	$4,739
Description of Lease(s) Arrangements: Capital leases consist of rental ageements entered into by missions for warehouses, parking lots, residential space, and office buildings. These leases are 1 year or more in duration.
Future Payments Due:
Fiscal Year	Future Costs	Future Costs
2007	$–	$285
2008	297	195
2009	297	117
2010	297	117
2011	232	45
2012	52	–
After 5 Years	77	237
Net Capital Lease Liability	$1,252	$996
Lease Liabilities Covered by Budgetary Resources	$1,252	$996
Operating Leases:	2007	2006
Future Payments Due:
Fiscal Year	Future Costs	Future Costs
2007	$–	$34,510
2008	33,668	37,271
2009	35,003	40,253
2010	36,391	43,473
2011	37,769	46,951
2012	39,090	–
After 5 Years	40,677	105,470
Total Future Lease Payments	$222,598	$307,928

Future lease payments total $222.6 million, of which, $221.3 million has been allocated for USAID headquarters in Washington, D.C. The current lease agreement is for approximately 550,000 sq. feet and will expire in FY 2010. The lessor, General Services Administration (GSA), charges commercial rates for USAID’s occupancy. Lease payments for FY 2007 and FY 2006 amounted to $40.6 million and $40.5 million, respectively.

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