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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 2E – Defeased Bonds Outstanding

Use schedule 2E to disclose the par value of defeased bonds by individual series that are outstanding at fiscal year-end until the escrow fund is exhausted and until no bonds are outstanding at fiscal year-end. Although these bonds are no longer reported as liabilities of the agency, they are still held by bondholders who are expecting payments of principal and interest.

  • 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).
  • Description — The same title, series and year as presented for other schedules. Avoid abbreviations if possible.
  • Year refunded — The calendar year in which the bonds (or portion thereof) were refunded or defeased. Multiple partial refundings of a single bond issue are reported on separate lines.
  • Par value outstanding — The par value of refunded or extinguished bonds that were not retired through payments from the escrow fund at fiscal year-end. Amounts in this schedule are updated each year.

    For discount bonds (such as capital appreciation, zero coupon or limited interest mortgage obligation bonds), the amount of accretion that occurred during the fiscal year is added.

    A timing difference exists when an agency computes accretion for a bond series but the accretion does not coincide with fiscal year-end. In these situations, the agency extrapolates the accretion from the last payment date of the fiscal year to the date of fiscal year-end (if material). Report a footnote explanation on the schedule indicating when the amounts are due to accretion.

Attention: For required note disclosures for bonded indebtedness, see Note 6: Bonded Indebtedness.

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

Governmental Activities

Description of Issue Year
Defeased
Par Value
Outstanding
General Obligation Bonds
Sample Ln Sec Bds Ser ‘78 1985   $     5,500,000.00
Sample Ln Sec Bds Ser ‘78-A 1985 10,500,000.00
Sample Ln Sec Bds Ser ‘79 1985 7,300,000.00
Sample Ln Sec Bds Ser ‘80 20CY 300,000.00
Total General Obligation Bonds     $   23,600,000.00
Revenue Bonds    
Sample Rev Bds Ser ‘87 1989   $     1,000,000.00
  1989 3,500,000.00
  1991 5,700,000.00
Total Revenue Bonds     $   10,200,000.00

Business-Type Activities

Description of Issue Year
Defeased
Par Value
Outstanding
General Obligation Bonds
Sample Ln Sec Bds Ser ‘78 1985   $     5,500,000.00
Sample Ln Sec Bds Ser ‘78-A 1985 10,500,000.00
Sample Ln Sec Bds Ser ‘79 1985 7,300,000.00
Sample Ln Sec Bds Ser ‘80 1986 13,000,000.00
Total General Obligation Bonds     $   36,300,000.00
Revenue Bonds    
Sample Ln Sec Bds Ser ‘67 1989   $     1,000,000.00
Sample Ln Sec Bds Ser ‘67-A 1989 3,500,000.00
Sample Ln Sec Bds Ser ‘75     1991 5,700,000.00
Sample Ln Sec Bds Ser ‘92     20CY 100,000.00
Total Revenue Bonds     $   10,300,000.00

Discrete Component Units

Description of Issue Year
Defeased
Par Value
Outstanding
Revenue Bonds
Sample Rev Bds Ser ‘02 20CY 25,000.00
Total     $       25,000.00

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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