GASB 87 Lease Accounting Compliance

The contract seeks technical consulting services to ensure full compliance with GASB 87 for lease accounting within the Finance Department of the City of South Lake Tahoe. The scope includes identifying all applicable leases across city operations, accurately calculating right-of-use assets and lease liabilities, and developing precise journal entries and amortization schedules in alignment with the new standard. The consultant must possess expert knowledge of governmental accounting principles and the ability to interpret and apply GASB 87 requirements to diverse lease arrangements, ensuring transparency and regulatory adherence. The work must be completed by the response deadline of August 4, 2026, and is classified as a subcontract under NAICS code 541211 for accounting services. The agency is located in California, and while specific performance location details are not provided, the services are intended to support the city’s financial reporting functions. Participation is open to qualified vendors responding to this opportunity, with no set-aside designations applied, and all deliverables must be tailored to meet the unique needs of a municipal government entity under state and federal accounting standards.