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Reporting Requirements for Annual Financial Reports of State Agencies and Universities

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Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Notes & Samples

NOTE 6 – Bonded Indebtedness
Bond Payable Entries (Governmental Activities)

COBJs available to use for the following entries:

  • 3353 – Sale of Veteran’s Bonds (Housing/Land)
  • 3354 – Water Development Bond Sales
  • 3407 – Farm and Ranch Finance Program Bonds
  • 3416 – Sale of Agricultural Finance Authority Bonds/Notes
  • 3459 – Sale of Park Development Bonds
  • 3515 – College Student Loan Bond Sales
  • 3744 – Sale of Public Building Bonds
  • 3870 – Bonds Issued to Refund Existing Bond Debt
  • 3878 – Bonds Issued to Refund Other Debt
  • 3880 – Sale of General Obligation/Revenue Bonds
  • 3882 – Premium/Discount on Bond Issue
  • 7800 – Defeasance of State Bonds
  • 7803 – Principal on State Bonds
  • 7810 – Defeasance of State Bonds – Refunding
  • 7870 – Payment to Escrow – Refunding

General ledger account numbers:

  • 1760 – BC NC Bonds Payable – Revenue
  • 1765 – BC NC Unamortized Premiums – Revenue
  • 1770 – BC NC Unamortized Discounts – Revenue
  • 1560 – BC CL Bonds Payable – Revenue
  • 1580 – BC CL Unamortized Premiums – Revenue
  • 1595 – BC CL Unamortized Discounts – Revenue
  • 1800 – BC NC Bonds Payable – General Obligation
  • 1810 – BC NC Unamortized Premiums – General Obligation
  • 1825 – BC NC Unamortized Discounts – General Obligation
  • 1555 – BC NC Bonds Payable – General Obligation
  • 1575 – BC CL Unamortized Premiums – General Obligation
  • 1590 – BC CL Unamortized Discounts – General Obligation
Seq No Batch Type Doc Type Eff Date Fin Agy TC AY PCA COBJ Amount R Fund Input GL
To Increase Bonds Payable for Additions
(1) 5 U 0832CY XXX 516 CY 99999 3XXX $ XX.XX   XXXX XXXX
To Reduce Non-current Bonds Payable
(2) 5 U 0832CY XXX 503 CY 99999 7XXX $ XX.XX   XXXX XXXX
To Record the Portion of Current Bond Payable Due Within One Year
(3) 5 U 0832CY XXX 537 CY 99999 N/A $ XX.XX   XXXX XXXX
To Reduce Non-current Bond Payable by amount of Current Due Within One Year
(4) 5 U 0832CY XXX 537 CY 99999 N/A $ XX.XX R XXXX XXXX
These are posted this way because they are all considered non-current until the year they are due.

Accounting effect of above entries:

Debit Credit
(1) To Increase Bonds Payable for Additions    
  6135 BC Other Financing Sources $ XX.XX  
  XXXX BC NC Bonds Payable   $ XX.XX
(2) To Reduce Non-current Bonds Payable    
  XXXX BC NC Bonds Payable $ XX.XX  
  5650 BC Expenditure Control   $ XX.XX
(3) To Record the Portion of Current Bond Payable Due Within One Year*    
  9992 System Clearing $ XX.XX  
  XXXX BC CL Bonds Payable   $ XX.XX
(4) To Reduce Non-current Payable by Amount of Current Due Within One Year*    
  XXXX BC NC Bonds Payable $ XX.XX  
  9992 System Clearing   $ XX.XX
* Note: T-Code 537 generates an automatic reversal in the following fiscal year using T-code 534.