|
Note 14. Leases
Capital Leases:Assets under capital leases are as follows:
Capital Lease Liabilities are primarily related to NOAA. NOAA has real property capital leases covering both land and buildings. The majority of these leases are for weather forecasting offices, but the leases are also for radar system sites, river forecasting centers, and National Weather Service enforcement centers. NOAA’s real property capital leases range from 10 to 40 years. Capital Lease Liabilities:Future payments due under capital leases are as follows:
Operating Leases:Most of the Department’s facilities are rented from the GSA, which generally charges rent that is intended to approximate commercial rental rates. For federal-owned property rented from GSA, the Department generally does not execute an agreement with GSA; the Department, however, is normally required to give 120 to 180 days notice to vacate. For non-federal owned property rented from GSA, an occupancy agreement is generally executed, and the Department may normally cancel these agreements with 120 days notice. The Department’s (1) estimated real property rent payments to GSA for FY 2008 through FY 2012; and (2) future payments due under noncancellable operating leases (non-GSA real property and personal property) are as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Previous Page | Next Page |
U.S Department of Commerce Home Page | Office of Budget Home | Privacy Policy |