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Glenn Hegar  ·  Texas Comptroller of Public Accounts

Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Bonds

Required Schedules and Samples
Schedule 2B – Changes in Bonded Indebtedness

Schedule 2B presents increases and decreases to the principal balance of each bond series.

Separate changes in bonded indebtedness into four categories, as described previously in Schedule 2A.

Disclose the following:

  • Bonds categories — Separate general obligation and revenue bonds into governmental activities (FT01, FT02, FT03, FT04 and FT19), business-type activities (FT05 and FT06) and discrete component units (FT15).
  • Bonds outstanding at 09/01/PY — This amount must agree with the ending principal balance in the previous year’s bond schedules.
  • Bonds issued — This reflects the par value of amounts issued for the specific series during the fiscal year. This column is also used to present annual principal accretion on all discount bonds (for example, capital appreciation, zero coupon or limited interest mortgage obligation bonds). A timing difference exists when the agency computes accretion for a bond series and that accretion does not coincide with the end of the fiscal year. In these situations, the agency will extrapolate the accretion from the last payment date to the end of the fiscal year, if material.
  • Bonds matured or retired — This is the par value (or currently accreted value for discount bonds) of all bonds retired during the fiscal year due only to a scheduled maturity. This amount ties to the bond issue’s amortization schedule. It also ties to the principal column on the analysis of funds available for debt service — general obligation bonds schedule or, the debt service-principal column on the analysis of funds available for debt service — revenue bonds schedule, respectively.
  • Bonds refunded or extinguished — This is the par value (or currently accreted value for discount bonds) of all bonds retired due to an early extinguishment (unscheduled maturity, call or refunding). Fiscal year-end outstanding balances of old debt resulting from an advance refunding/extinguishment must be reported on schedule 2-E.
  • Adjustments — This includes restatements and current year amortization of premiums and discounts as well as any other corrections to bonds payable balances. Do not include accretion amortization as adjustments.
  • Bonds outstanding at 08/31/CY This balance, that can be calculated by applying current year bond transactions to the bonds outstanding at Sept. 1 20CY, must agree with bonds payable reported on the balance sheet/statement of net position and the amount disclosed in the notes to the financial statements. If the amounts do not agree, prepare a reconciliation in this schedule to disclose unamortized premiums and discounts pursuant to GASB 23 or GASB 65. A separate reconciliation is required for general obligation bonds and for revenue bonds.
  • Amounts due within one year — This amount is the current portion of the principal payment due in one year. This amount is adjusted for premiums and discounts to be amortized within the next year.

Schedule 2B – Sample
For the Fiscal Year Ended Aug. 31, 20CY

The following tables are prepared using par value information with ending par value balance reconciled to an ending net balance. The reconciling item includes accrual adjustments. A par value adjustment column has been added to provide an accurate Bonds Outstanding Ending Balance (at par).

BRS provides a second Schedule 2B that is accrual based and does not require a reconciliation. This format is an acceptable presentation.

Governmental Activities

General Obligation Bonds

  Reconciliation  
Description
of Issue
Bonds
Outstanding
09/01/PY
Bonds
Issued
Bonds
Matured or
Retired
Bonds
Refunded or
Extinguished
Par Value
Adjustments
Bonds
Outstanding
08/31/CY
Unamortized Premium Unamortized Discount Adjustments Net Bonds
Outstanding
08/31/CY
Amounts Due
Within
One Year
Bonds
Outstanding
08/31/CY
Sample Ln Sec
Bds Ser ’80
$ 4,000,000.00 $ 1,528,662.12 $ 70,000.00 $ 900,000.00 $ (25,000.00) $ 4,533,662.12 $ 3,251.25 $ (450.45) $ (5,000.00) $ 4,531,462.92 $ 75,125.07 $ 4,533,662.12

Revenue Bonds

  Reconciliation  
Description
of Issue
Bonds
Outstanding
09/01/PY
Bonds
Issued
Bonds
Matured or
Retired
Bonds
Refunded or
Extinguished
Par Value
Adjustments
Bonds
Outstanding
08/31/CY
Unamortized
Premium
Unamortized
Discount
Adjustments Net Bonds
Outstanding
08/31/CY
Amounts Due
Within
One Year
Bonds
Outstanding
08/31/CY
Sample Rev
Bds Ser ’87
$ 1,900,000.00   $ 20,000.00 $ 930,000.00   $ 930,000.00 $ 1,000.00 $ (961.37) $ 600.00 $ 950,638.63 $ 25,700.00 $ 950,000.00

Total Governmental Activities

  Reconciliation  
Description
of Issue
Bonds
Outstanding
09/01/PY
Bonds
Issued
Bonds
Matured or
Retired
Bonds
Refunded or
Extinguished
Par Value
Adjustments
Bonds
Outstanding
08/31/CY
Unamortized
Premium
Unamortized
Discount
Adjustments Net Bonds
Outstanding
08/31/CY
Amounts Due
Within
One Year
Bonds
Outstanding
08/31/CY
GO and
REV
$ 5,900,000.00 $ 1,528,662.12 $ 90,000.00 $ 1,830,000.00 $ (25,000.00) $ 5,483,662.12 $ 4,251.25 $ (1,411.82) $ (4,400.00) $ 5,482,101.55 $ 100,825.07 $ 5,483,662.12

Business-Type Activities

General Obligation Bonds

  Reconciliation  
Description
of Issue
Bonds
Outstanding
09/01/PY
Bonds
Issued
Bonds
Matured or
Retired
Bonds
Refunded or
Extinguished
Par Value
Adjustments
Bonds
Outstanding
08/31/CY
Unamortized
Premium
Unamortized
Discount
Adjustments Net Bonds
Outstanding
08/31/CY
Amounts Due
Within
One Year
Bonds
Outstanding
08/31/CY
Sample Ln Sec
Bds Ser ’80
$ 550,000.00 $ 65,000.00 $ 10,000.00 $ 50,000.00 $ 10,000.00 $ 555,000.00 $ 2,000.00 $ (7,165.60) $ 10,000.00 $ 559,834.40 $ 60,246.91 $ 555,000.00

Revenue Bonds

  Reconciliation  
Description
of Issue
Bonds
Outstanding
09/01/PY
Bonds
Issued
Bonds
Matured or
Retired
Bonds
Refunded or
Extinguished
Par Value
Adjustments
Bonds
Outstanding
08/31/CY
Unamortized
Premium
Unamortized
Discount
Adjustments Net Bonds
Outstanding
08/31/CY
Amounts Due
Within
One Year
Bonds
Outstanding
08/31/CY
Sample Rev
Bds Ser ’87
$ 1,000,000.00 $ 132.24 $ 25,000.00 $ 80,000.00   $ 895,132.24 $ 975.73 $ (976.08) $ (20,000.00) $ 875,131.89 $ 45,001.15 $ 895,132.24

Total Business-Type Activities

  Reconciliation  
Description
of Issue
Bonds
Outstanding
09/01/PY
Bonds
Issued
Bonds
Matured or
Retired
Bonds
Refunded or
Extinguished
Par Value
Adjustments
Bonds
Outstanding
08/31/CY
Unamortized
Premium
Unamortized
Discount
Adjustments Net Bonds
Outstanding
08/31/CY
Amounts Due
Within
One Year
Bonds
Outstanding
08/31/CY
GO and
REV
$ 1,550,000.00 $ 65,132.24 $ 35,000.00 $ 130,000.00 $ 10,000.00 $ 1,450,132.24 $ 2,975.73 $ (8,141.68) $ (10,000.00) $ 1,434,966.29 $ 105,248.06 $ 1,450,132.24

Discrete Component Units

General Obligation Bonds

  Reconciliation  
Description
of Issue
Bonds
Outstanding
09/01/PY
Bonds
Issued
Bonds
Matured or
Retired
Bonds
Refunded or
Extinguished
Par Value
Adjustments
Bonds
Outstanding
08/31/CY
Unamortized
Premium
Unamortized
Discount
Adjustments Net Bonds
Outstanding
08/31/CY
Amounts Due
Within
One Year
Bonds
Outstanding
08/31/CY
Sample Ln Sec
Bds Ser ’00
$ 400,000.00   $ 20,000.00     $ 380,000.00       $ 380,000.00 $ 20,000.00 $ 380,000.00

Revenue Bonds

  Reconciliation  
Description
of Issue
Bonds
Outstanding
09/01/PY
Bonds
Issued
Bonds
Matured or
Retired
Bonds
Refunded or
Extinguished
Par Value
Adjustments
Bonds
Outstanding
08/31/CY
Unamortized
Premium
Unamortized
Discount
Adjustments Net Bonds
Outstanding
08/31/CY
Amounts Due
Within
One Year
Bonds
Outstanding
08/31/CY
Sample Rev
Bds Ser ’02
$ 275,000.00   $ 10,000.00 $ 15,000.00   $ 250,000.00 $ 975.00 $ (975.55) $ (10,000.00) $ 239,999.45 $ 15,001.25 $ 250,000.00

Total Discrete Component Units

  Reconciliation  
Description
of Issue
Bonds
Outstanding
09/01/PY
Bonds
Issued
Bonds
Matured or
Retired
Bonds
Refunded or
Extinguished
Par Value
Adjustments
Bonds
Outstanding
08/31/CY
Unamortized
Premium
Unamortized
Discount
Adjustments Net Bonds
Outstanding
08/31/CY
Amounts Due
Within
One Year
Bonds
Outstanding
08/31/CY
GO and
REV
$ 675,000.00   $ 30,000.00 $ 15,000.00   $ 630,000.00 $ 975.00 $ (975.55) $ (10,000.00) $ 619,999.45 $ 35,001.25 $ 630,000.00

Important: Enter all amounts in dollars and cents.

Glenn Hegar
Texas Comptroller of Public Accounts
Questions? Contact statewide.accounting@cpa.texas.gov
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