Recent Comptroller and Travel Policy Changes

CMP 145 – Lease Reporting created to satisfy requirements of GASB 87

Effective fiscal year 2022 (7/1/21), leases greater than 12 months in duration (Lease Term) that meet the dollar thresholds (Lease Thresholds) within this policy will require the recognition of a lease asset and lease liability when NAU is the lessee, or a lease receivable and deferred inflow of resources when NAU is the lessor.