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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 2C – Debt Service Requirements

Schedule 2C presents the future cash payments of both the principal and interest for each bond series by fiscal year according to the bond issue’s amortization schedule. 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).

Interest requirements for variable-rate debt are determined using the rate in effect at the financial statement date. Disclose the terms by which interest rates change for variable-rate debt. The disclosure considers the life of the debt service requirements and not just current requirements. For the purposes of computing amounts for this schedule, principal on variable rate bonds is considered paid at maturity unless otherwise required. Report total accretion on this schedule in the principal column in the year of maturity only.

Separate debt service requirements schedule into categories as described in Schedule 2A.

Disclose the debt service payments — principal and interest presented separately — for the following periods:

  • Fiscal 20X1 (future year 1)
  • Fiscal 20X2 (future year 2)
  • Fiscal 20X3 (future year 3)
  • Fiscal 20X4 (future year 4)
  • Fiscal 20X5 (future year 5)
  • Five-year increments thereafter
  • Total Required

A bond issue is not required to be included on this schedule if bonds outstanding at Aug. 31, 20CY on Schedule 2B is zero.

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

Governmental Activities

Description of Issue Year Principal Interest
 
General Obligation Bonds      
Sample Ln Sec Bds Ser ‘80 XXX1   $     300,000.00   $     181,147.76
  XXX2 300,000.00 169,147.74
  XXX3 300,000.00 157,147.96
  XXX4 300,000.00 145,147.04
  XXX5 300,000.00 133,147.36
  XXX6 - XX10 1,500,000.00 363,442.22
  XX11 - XX15 1,500,000.00 183,442.15
      $   4,500,000.00   $   1,332,622.23
Revenue Bonds      
Sample Rev Bds Ser ‘87 XXX1   $      65,000.00   $      64,166.73
  XXX2 65,000.00 59,778.16
  XXX3 65,000.00 55,391.25
  XXX4 65,000.00 51,003.84
  XXX5 65,000.00 46,616.17
  XXX6 - XX10 325,000.00 126,684.04
  XX11 - XX15 300,000.00 30,436.36
      $     950,000.00   $     434,076.55

Business-Type Activities

Description of Issue Year Principal Interest
 
General Obligation Bonds      
Sample Ln Sec Bds Ser ‘80 XXX1   $      37,000.00   $      22,616.34
  XXX2 37,000.00 21,136.46
  XXX3 37,000.00 19,656.91
  XXX4 37,000.00 18,176.82
  XXX5 37,000.00 16,696.16
  XXX6 - XX10 185,000.00 45,649.64
  XX11 - XX15 195,000.00 23,449.52
      $     565,000.00   $     167,381.85
Revenue Bonds      
Sample Rev Bds Ser ‘92 XXX1   $      60,000.00   $      54,281.82
  XXX2 60,000.00 50,741.46
  XXX3 60,000.00 47,220.17
  XXX4 60,000.00 43,661.96
  XXX5 60,000.00 40,120.31
  XXX6 - XX10 300,000.00 109,741.64
  XX11 - XX15 320,000.00 56,644.92
    920,000.00 402,412.28
  Less Accretion: 44,867.76  
      $     875,132.24   $     402,412.28

Discrete Component Units

Description of Issue Year Principal Interest
 
Revenue Bonds      
Sample Ln Sec Bds Ser ‘00 XXX1   $      15,000.00   $      15,246.96
  XXX2 15,000.00 14,652.61
  XXX3 15,000.00 14,389.93
  XXX4 15,000.00 13,446.27
  XXX5 20,000.00 12,810.39
  XXX6 - XX10 100,000.00 36,698.74
  XX11 - XX15 100,000.00 24,698.61
  XX16 - XX20 100,000.00 12,165.52
      $     380,000.00   $     144,109.03
Sample Rev Bds Ser ‘02 XXX1   $      10,000.00   $      12,600.25
  XXX2 10,000.00 12,075.37
  XXX3 10,000.00 11,550.16
  XXX4 10,000.00 11,025.64
  XXX5 10,000.00 10,500.96
  XXX6 - XX10 50,000.00 29,925.17
  XX11 - XX15 50,000.00 22,050.05
  XX16 - XX20 60,000.00 14,175.39
  XX21 - XX25 30,000.00 2,756.46
      $     240,000.00   $     126,659.45

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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