NOTE 9. Leases
As of September 30, 2006 and 2005 Leases consisted of the
following:
Leases as of September 30, 2006 and 2005
(Dollars in Thousands)
| Entity as Lessee |
| Capital Leases: |
FY 2006 |
FY 2005 |
| Summary of Assets Under Capital Lease: |
|
|
| Buildings |
$6,899 |
$6,365 |
| Accumulated Depreciation |
$(2,160) |
$(1,864) |
| Net Assest under Capital Leases |
$4,739 |
$4,501 |
| Future Payments Due: |
| Fiscal Year |
Future Costs |
Future Costs |
| 2006 |
$– |
$195 |
| 2007 |
285 |
165 |
| 2008 |
195 |
45 |
| 2009 |
117 |
45 |
| 2010 |
117 |
45 |
| 2011 |
45 |
158 |
| After 5 Years |
237 |
– |
| Net Capital Lease Liability |
$996 |
$653 |
| Lease Liabilities
Covered by Budgetary Resources |
$996 |
$653 |
| Lease Liabilities
Not Covered by Budgetary Resources |
$– |
$– |
| The
capital lease liability is reported on USAID's Balance
Sheet under Other Liabilities. |
| Operating Leases: |
FY 2006 |
FY 2005 |
| Future Payments Due: |
| Fiscal Year |
Future Costs |
Future Costs |
| 2006 |
$– |
$77,861 |
| 2007 |
34,510 |
76,467 |
| 2008 |
37,271 |
75,332 |
| 2009 |
40,253 |
74,094 |
| 2010 |
43,473 |
72,219 |
| 2011 |
46,951 |
19,515 |
| After 5 Years |
105,470 |
– |
| Total Future Lease Payments |
$307,928 |
$395,489 |
Of the $308.8 million in future lease payment, $308 million
is attributable to the Ronald Reagan Building. The occupancy
agreement for the Ronald Reagan Building in Washington D.C
will expire September 30, 2010. This building is leased by
the General Services Administration (GSA). USAID is charged
rent intended to approximate commercial rental rates. Lease
payments for FY 2006 amounted to $40.5 million.
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