Southern Illinois University Partners with LeaseQuery to be Compliant with GASB 87

LeaseQuery provides SIU with a long term lease accounting and lease management solution

Challenge

With the GASB 87 deadline approaching and their lease portfolio growing, SIU knew they needed a lease accounting solution. SIU understood the complexities of compliance and knew Excel and their current accounting software was not going to be sufficient. This large Midwest university formed a seven person, multi-department team and set out to find a GASB 87 compliant lease accounting tool that would account for leases on both the lessor and lessee side.

Solution

After much research and consideration, LeaseQuery was the only solution that met all of SIU’s requirements. LeaseQuery’s user-friendly solution helped the team operate more efficiently across three university campuses. Furthermore, SIU appreciates the LeaseQuery team’s quick response time and support throughout the entire process.

“Because I saw that LeaseQuery was made by accountants for accountants, I knew that you all would be speaking the same language as our accountants, and to me, that stood out in a good way compared to other vendors we researched.”

– Tina Galik, Assistant Treasurer