Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Notes & Samples

NOTE 6 – Bonded Indebtedness
Schedule 2A – Miscellaneous Bond Information

Schedule 2A presents descriptive data for each bond series issued by disclosing historical information that is based on the date of issuance, using the official statement as the source. The data must not change during the life of the bonds other than changes due to annual accretion on compound interest bonds, capital appreciation bonds and for changes in amounts issued to date.

Use Schedule 2A and the BRS web application to disclose the following information, where applicable:

• Separate bond series issued into one of the following:
  • Governmental activities (FT01, FT02, FT03, FT04 and FT19)
  • Business-type activities (FT05 and FT06)
  • Discrete component units (FT15)
• Identify each bond series issued as either:
  • General obligation bonds, self-supporting
  • General obligation bonds – direct borrowings, self-supporting
  • General obligation bonds – direct placements, self-supporting
  • General obligation bonds, not self-supporting
  • General obligation bonds – direct borrowings, not self-supporting
  • General obligation bonds – direct placements, not self-supporting
  • Revenue bonds, self-supporting
  • Revenue bonds – direct borrowings, self-supporting
  • Revenue bonds – direct placements, self-supporting
  • Revenue bonds, not self-supporting
  • Revenue bonds – direct borrowings, not self-supporting
  • Revenue bonds – direct placements, not self-supporting
• Description of the bond issue — Include the title, series and calendar year of the bond as contained in the official statement. Use the same exact description of each issue for each bond schedule. Make sure these descriptions agree with those used in the previous year’s bond schedules.

• Bonds issued to date — Show the amount of the original par value by bond series. This amount remains unchanged for the life of the bonds and, except for capital appreciation bonds, will agree with the previous year’s bond schedules.

  For capital appreciation bonds, the amount changes annually based on the current year accretion recognized as bonds issued in the changes in bonded indebtedness schedule.

  In general, anything reported as bonds issued on the changes in bonded indebtedness schedule is included in this column.

• Range of interest rates — Present both the lowest and highest interest rate for each series as stated in the official statement for fixed rate issues. This data is not adjusted for maturities or refundings and must agree with the previous year’s bond schedules. For variable rate bonds, report both the high and low range as “VAR” to indicate variable regardless of how specific allowable ranges may be stated. (If converted to a fixed rate, replace “VAR” with the new fixed rate and add a footnote on this schedule and in the BRS web application SECTION ONE COMMENT field, such as weekly, monthly, quarterly, yearly, etc.)
• Terms of variable interest rate — Disclose the terms by which interest rates change for variable-rate debt (for example, weekly, monthly, quarterly, yearly, etc.).
• Scheduled maturities, first and last year — Show the first and last calendar years of scheduled maturities for each series as stated in the official statement. This data is not adjusted for maturities or refundings and must agree with the previous year’s bond schedules. The final maturity date is a required field in the BRS web application.

• First call date — This is the first date (MM/DD/YYYY) the agency has the option to call any portion of the bond issue for early redemption. Do not include mandatory redemptions required by or specified in the bond resolution.

  Enter N/A if the bonds are not subject to early redemption at the option of the agency.

  Enter Partial as a footnote on the schedule if the call date refers to an option for only a partial redemption.

In the BRS web application, provide information not otherwise collected in the various data fields in the COMMENT box (on data entry screen 1, section 1 and section 4). A note is not necessary for redemption of the total outstanding balance. Use a separate footnote to identify any required mandatory redemptions.