Case Study: Fort Worth Independent School District achieves GASB 87 and GASB 96 compliance confidence with DebtBook

Fort Worth Independent School District clears 200+ leases and subscriptions with DebtBook

Fort Worth Independent School District faced a critical challenge when new GASB 87 lease accounting standards were implemented. With their fiscal year-end rapidly approaching, Comptroller Maria Chavez discovered no preparatory work had been done for complying with the complex new rules, putting the district at risk. The vendor, DebtBook, was brought in to help manage over 200 contracts and achieve compliance under immense time pressure.

DebtBook implemented its solution by thoroughly reviewing the district's contracts, identifying only seven that qualified under GASB 87, and creating a centralized system for lease management. The results were significant time savings, streamlined audits, and simplified ongoing compliance, which later extended smoothly to GASB 96 for subscriptions. The impact was a revolutionized accounting process for Fort Worth ISD, eliminating manual efforts and providing such confidence that the district plans to use DebtBook for debt management next.

Fort Worth Independent School District