Specifications include, but are not limited to: A. Software shall have government-wide and fund-based accounting and reporting for both the lessee and lessor, and for both governmental and business-type funds. B. Software shall be able to calculate the right of use asset and lease liability as lessee and lease receivable and deferred inflow as lessor. C. Software shall have audit trail of individuals making changes. D. Software shall have amortization table generation. Software must be able to handle payment schedules that change over time, free rent, lease incentives, payments in advance, in arrears, middle of month, monthly, quarterly, annually. Must be able to generate these amortizations for lease agreements that do not provide amortization information. E. Software shall be able to report in excel the journal entries required for entire life cycles of leases; commencement, interim, modification, impairment, extension and termination, and lease modification. The District does not intend to interface journal entries directly from the software into the District's ERP system. F. Software shall have reports to use for GASB 87 lease disclosures and GASB 96 SBITA disclosures in the financial statement footnotes. Leases in governmental and business-type funds must be reported separately per GASB 87 and GASB 96. G. Software shall export and import data through a mechanism such as MS Excel. H. Software shall have the ability to upload signed copy of leases, purchase orders and other documentation. I. Software shall have alert notifications for deadlines and renewals. J. Software shall have the ability to allocate Master Service Agreement-type leases to multiple funds and to both governmental and business-type funds.
