Reporting Requirements for Annual Financial Reports of State Agencies and Universities
Specialized Accounting
Public-Private and Public-Public Partnerships
Types & Examples of PPP Contracts
There are three scenarios under which a contract is recognized as a Public-Private and Public-Public Partnership (PPP).
- An underlying PPP asset is an existing asset of the transferor at the commencement of the PPP term and the operator makes improvements to the asset.
- An underlying PPP asset is a new asset purchased or constructed by the operator and the PPP meets the definition of a Service Concession Arrangement (SCA).
- An underlying PPP asset is a new asset purchased or constructed by the operator and the PPP does not meet the definition of an SCA.
If the underlying PPP asset is an existing asset, the government (transferor) will continue to recognize the asset. The transferor will also recognize a receivable for installment payments, if any, and a deferred inflow of resources.
If the underlying asset is a new asset purchased or constructed by the operator and the PPP meets the definition of an SCA, the transferor will recognize an asset when it is placed into service, a receivable for any installment payments and a deferred inflow of resources.
If the underlying asset is a new asset purchased or constructed by the operator and the PPP does not meet the definition of an SCA, the transferor will recognize a receivable for the underlying PPP asset, a receivable for any installment payments, and a deferred inflow of resources. The PPP asset receivable is based on the operator’s estimated carrying value of the underlying PPP asset as of the expected date of the transfer in ownership.
For all PPPs, the receivable for installment payments is determined by the discount rate specified in the contract. If this rate is not explicit or an implicit interest rate determined from the contract, the government may use its incremental borrowing rate that corresponds to the contract term. The state’s Incremental Borrowing Rate is based on the quarterly average of Treasury Constant Maturities as reported by the Federal Reserve.
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Example of a PPP Arrangement – Existing Capital Asset [+]
The Texas Department of Transportation (TxDOT) (the transferor), enters an arrangement with the Metropolitan Tollway Authority (MTA) (the operator), involving the Layfield Tollway – a capital asset currently being reported by TxDOT in the tollway authority enterprise fund at a carrying amount of $1 billion.
TxDOT receives an up-front payment of $3 billion from MTA, in return for which MTA receives the right to operate the tollway and receive and retain toll revenues for a period of 75 years. MTA is not a component unit of TxDOT.
Accounting for Year 1 of the PPP Term
The agency (transferor) must:
- Continue to report the tollway as a capital asset. No USAS entry needed.
- Recognize a deferred inflow of resources in the amount of $3 billion for the up-front payment received from the operator.
- Recognize $40 million (the up-front payment divided by 75 years) in revenue and reduce the related deferred inflow of resources in the same amount if the agency chooses to use the straight-line method of reporting. This amount is prorated in the first year, as necessary.
Business-Type Activities
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | COBJ | Amount | R | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record Deposit of Up-Front Payment from the Operator | ||||||||||||
| (1) | 5 | U | XXXXCY | XXX | 644 | CY | 99999 | N/A | $3,000,000,000 | XXXX | 0040 | |
| To Record Deferred Inflows of Resources for the Up-Front Payment | ||||||||||||
| (2) | 5 | U | XXXXCY | XXX | 645 | CY | 99999 | N/A | $3,000,000,000 | XXXX | 1490 | |
| To Record Year 1 Amortization for Up-Front Payment Received | ||||||||||||
| (3) | 5 | U | XXXXCY | XXX | 644 | CY | 99999 | N/A | $40,000,000 | XXXX | 1490 | |
| To Recognize Year 1 Revenue for Up-Front Payment Received | ||||||||||||
| (4) | 5 | U | XXXXCY | XXX | 631 | CY | 99999 | 3XXX | $40,000,000 | XXXX | 9999 | |
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Record Deposit of Up-Front Payment from the Operator | ||
| 0040 Cash In Bank | $ 3,000,000,000 | ||
| 9999 System Clearing | $ 3,000,000,000 | ||
| (2) | To Record Deferred Inflows of Resources for the Up-Front Payment | ||
| 9999 System Clearing | $ 3,000,000,000 | ||
| 1490 Deferred Inflow of Resources – PPP | $ 3,000,000,000 | ||
| (3) | To Record Year 1 Amortization for Up-Front Payment Received | ||
| 1490 Deferred Inflow of Resources – PPP | $ 40,000,000 | ||
| 9999 System Clearing | $ 40,000,000 | ||
| (4) | To Recognize Year 1 Revenue for Up-Front Payment Received | ||
| 9999 System Clearing | $ 40,000,000 | ||
| 5100 GAAP Revenue Offset | $ 40,000,000 |
Governmental Activities
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | COBJ | Amount | R | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record Deposit in Governmental Fund for Up-Front Payment From the Operator | ||||||||||||
| (1) | 2 | D | XXXXCY | XXX | 195 | CY | 99999 | 3XXX | $3,000,000,000 | XXXX | ||
| To Reclassify Revenue Received in Governmental Fund for Up-Front Payment | ||||||||||||
| (2) | S | U | XXXXCY | XXX | 630 | CY | 99999 | 3XXX | $3,000,000,000 | XXXX | 9999 | |
| To Record Up-Front Payment in Governmental Fund to Other Financing Sources | ||||||||||||
| (3) | 5 | U | XXXXCY | XXX | 657 | CY | 99999 | 3XXX | $3,000,000,000 | XXXX | 9999 | |
| To Reclassify Other Financing Sources in FT21 Related to Up-Front Payment | ||||||||||||
| (4) | 5 | U | XXXXCY | XXX | 516 | CY | 99999 | 3XXX | $3,000,000,000 | XXXX | 9992 | |
| To Recognize Year 1 Revenue in FT21 for Up-Front Payment Received | ||||||||||||
| (5) | 5 | U | 0832CY | XXX | 511 | CY | 99999 | 3XXX | $40,000,000 | XXXX | 9992 | |
| To Record Deferred Inflows of Resources in FT21 | ||||||||||||
| (6) | 5 | U | 0832CY | XXX | 535 | CY | 99999 | N/A | $2,960,000,000 | XXXX | 1990 | |
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Record Deposit in Governmental Fund for Up-Front Payment From the Operator | ||
| 0045 Cash In State Treasury | $ 3,000,000,000 | ||
| 5000 Revenue Control – Cash | $ 3,000,000,000 | ||
| (2) | To Reclassify Revenue Received in Governmental Fund for Up-Front Payment | ||
| 5100 GAAP Revenue Offset | $ 3,000,000,000 | ||
| 9999 System Clearing | $ 3,000,000,000 | ||
| (3) | To Record Up-Front Payment in Governmental Fund to Other Financing Sources | ||
| 9999 System Clearing | $ 3,000,000,000 | ||
| 6035 Other Financing Sources | $ 3,000,000,000 | ||
| (4) | To Reclassify Other Financing Sources in FT21 Related to Up-Front Payment | ||
| 6135 BC Other Financing Sources | $ 3,000,000,000 | ||
| 9992 BC System Clearing | $ 3,000,000,000 | ||
| (5) | To Recognize Year 1 Revenue in FT21 for Up-Front Payment Received | ||
| 9992 BC System Clearing | $ 40,000,000 | ||
| 5150 BC Revenue Control | $ 40,000,000 | ||
| (6) | To Record Deferred Inflows of Resources in FT21 | ||
| 9992 BC System Clearing | $ 2,960,000,000 | ||
| 1990 BC Deferred Inflow of Resources – PPP | $ 2,960,000,000 |
Accounting in Subsequent Years
The agency (transferor) must:
- Continue to apply existing capital asset guidance (including depreciation, if applicable) to the tollway. Do not depreciate the capital asset if the arrangement requires the operator to return the asset to the agency in its original or an enhanced condition.
- Recognize $40 million (the up-front payment divided by 75 years) in revenue and reduce the related deferred inflow of resources in the same amount each year of the arrangement if the agency chooses to use the straight-line method of reporting.
Business-type Activities
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | COBJ | Amount | R | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record Amortization for Up-Front Payment Received Over the PPP Term | ||||||||||||
| (1) | 5 | U | XXXXCY | XXX | 644 | CY | 99999 | $40,000,000 | XXXX | 1490 | ||
| To Recognize Revenue for Up-Front Payment Received Over the PPP Term | ||||||||||||
| (2) | 5 | U | XXXXCY | XXX | 631 | CY | 99999 | 3XXX | $40,000,000 | XXXX | 9999 | |
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Record Amortization for Up-Front Payment Received Over the PPP Term | ||
| 1490 Deferred Inflow of Resources – PPP | $ 40,000,000 | ||
| 9999 System Clearing | $ 40,000,000 | ||
| (2) | To Recognize Revenue for Up-Front Payment Received Over the PPP Term | ||
| 9999 System Clearing | $ 40,000,000 | ||
| 5100 GAAP Revenue Offset | $ 40,000,000 |
Governmental Activities
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | COBJ | Amount | R | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record Amortization of Deferred Inflows of Resources in FT21 for Up-Front Payment Received over the PPP Term | ||||||||||||
| (1) | 5 | U | 0832CY | XXX | 534 | CY | 99999 | $40,000,000 | XXXX | 1990 | ||
| To Recognize Revenue in FT21 for Up-Front Payment Received over the PPP Term | ||||||||||||
| (2) | 5 | U | 0832CY | XXX | 511 | CY | 99999 | 3XXX | $40,000,000 | XXXX | 9992 | |
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Record Amortization of Deferred Inflows of Resources in FT21 for Up-Front Payment Received over the PPP Term | ||
| 1990 BC Deferred Inflow of resources – PPP | $ 40,000,000 | ||
| 9992 BC System Clearing | $ 40,000,000 | ||
| (2) | To Recognize Revenue in FT21 for Up-Front Payment Received over the PPP Term | ||
| 9992 BC System Clearing | $ 40,000,000 | ||
| 5150 BC Revenue Control | $ 40,000,000 |
Example of a PPP Arrangement That is an SCA – No Existing Capital Asset [+]
The Texas Department of Transportation (TxDOT) (the transferor) enters a public-public partnership arrangement with the Local Tunnel Authority (LTA) (the operator), in which LTA has agreed to design and build a tunnel (the Campbell Tunnel) for TxDOT and then operate the tunnel for 40 years.
During the term of the arrangement, LTA is entitled to collect and retain tolls generated by the tunnel. The arrangement meets all the criteria to qualify as a service concession arrangement. The cost to LTA to construct the tunnel is $4 billion. The acquisition value of the tunnel when it is placed into service at the end of the current year is $4.5 billion. LTA is not a component unit of TxDOT.
Accounting for Year 1 of the PPP Term and When the Asset is Placed Into Service
The agency (transferor) must:
- Recognize a $4.5 billion capital asset for the acquisition value of the tunnel when it is placed into service and a $4.5 billion deferred inflow of resources.
- Apply existing capital asset guidance, including depreciation (if applicable), to the tunnel. The asset is not depreciated if the operator is required to return the asset in its original or better condition at the end of the PPP term.
- Recognize $112.5 million in revenue and reduce the related deferred inflow of resources in the same amount if the agency elects to use the straight-line method of reporting. This amount would be prorated in Year 1 as necessary.
Business-Type Activities
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | COBJ | Amount | R | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record Acquisition Value of Tunnel Constructed by the Operator | ||||||||||||
| (1) | 5 | U | XXXXCY | XXX | 644 | CY | 99999 | N/A | $4,500,000,000 | XXXX | XXXX* | |
| To Record Deferred Inflows of Resources – PPP | ||||||||||||
| (2) | 5 | U | XXXXCY | XXX | 645 | CY | 99999 | N/A | $4,500,000,000 | XXXX | 1490 | |
| To Record Year 1 Amortization of Deferred Inflows of Resources Related to the Tunnel | ||||||||||||
| (3) | 5 | U | 0832CY | XXX | 631 | CY | 99999 | 3XXX | $112,500,000 | XXXX | 1490 | |
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Record Acquisition Value of Tunnel Constructed by the Operator | ||
| XXXX* GL Account for Capital Asset | $ 4,500,000,000 | ||
| 9999 System Clearing | $ 4,500,000,000 | ||
| (2) | To Record Deferred Inflows of Resources – PPP | ||
| 9999 System Clearing | $ 4,500,000,000 | ||
| 1490 Deferred Inflow of Resources – PPP | $ 4,500,000,000 | ||
| (3) | To Record Year 1 Amortization of Deferred Inflows of Resources Related to the Tunnel | ||
| 1490 Deferred Inflow of Resources – PPP | $ 112,500,000 | ||
| 5100 GAAP revenue Offset | $ 112,500,000 |
*For more information on GL accounts for capital assets business-type activities, see Recording Capital Asset Acquisitions. For more information on capital asset object codes, see Capital Asset Object Codes.
Governmental Activities
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | COBJ | Amount | R | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record Acquisition Value of Tunnel Constructed by the Operator | ||||||||||||
| (1) | 5 | U | XXXXCY | XXX | 513 | CY | 99999 | N/A | $4,500,000,000 | XXXX | 06XX* | |
| To Record Deferred Inflows of Resources – PPP | ||||||||||||
| (2) | 5 | U | XXXXCY | XXX | 535 | CY | 99999 | N/A | $4,500,000,000 | XXXX | 1990 | |
| To Record Year 1 Amortization of Deferred Inflows of Resources Related to the Tunnel | ||||||||||||
| (3) | 5 | U | 0832CY | XXX | 511 | CY | 99999 | 3XXX | $112,500,000 | XXXX | 1990 | |
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Record Acquisition Value of Tunnel Constructed by the Operator | ||
| 06XX* BC GL Account for Capital Asset | $ 4,500,000,000 | ||
| 9992 BC System Clearing | $ 4,500,000,000 | ||
| (2) | To Record Deferred Inflows of Resources – PPP | ||
| 9992 BC System Clearing | $ 4,500,000,000 | ||
| 1990 BC Deferred Inflow of Resources – PPP | $ 4,500,000,000 | ||
| (3) | To Record Year 1 Amortization of Deferred Inflows of Resources Related to the Tunnel | ||
| 1990 BC Deferred Inflow of Resources – PPP | $ 112,500,000 | ||
| 5150 BC Revenue Control | $ 112,500,000 |
*For more information on GL accounts for capital assets – government-wide activities, see Recording Capital Asset Acquisitions. For more information on capital asset object codes, see Capital Asset Object Codes.
Accounting in Subsequent Years
The agency (transferor) must:
- Apply existing capital asset guidance, including depreciation (if applicable), to the tunnel. The asset is not depreciated if the operator is required to return the asset in its original or better condition at the end of the PPP term.
- Recognize $112.5 million in revenue and reduce the related deferred inflow of resources in the same amount each year of the contract if the agency elects to use the straight-line method of reporting.
Business-Type Activities
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | COBJ | Amount | R | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record Amortization of Deferred Inflows of Resources Over the PPP Term | ||||||||||||
| (1) | 5 | U | 0832CY | XXX | 631 | CY | 99999 | 3XXX | $112,500,000 | XXXX | 1490 | |
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Record Amortization of Deferred Inflows of Resources Over the PPP Term | ||
| 1490 Deferred Inflows of Resources – PPP | $ 112,500,000 | ||
| 5100 GAAP Revenue Offset | $ 112,500,000 |
Governmental Activities
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | COBJ | Amount | R | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record Amortization of Deferred Inflows of Resources over the PPP Term | ||||||||||||
| (1) | 5 | U | 0832CY | XXX | 511 | CY | 99999 | 3XXX | $112,500,000 | XXXX | 1990 | |
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Record Amortization of Deferred Inflows of Resources over the PPP Term | ||
| 1990 BC Deferred Inflows of Resources – PPP | $ 112,500,000 | ||
| 5150 BC Revenue Control | $ 112,500,000 |
Example of a PPP Arrangement That is Not an SCA – No Existing Capital Asset [+]
The Texas Department of Transportation (TxDOT) (the transferor) enters into an arrangement with the County Bridge Authority (CBA) (the operator), to design and build a bridge (the Burks Bridge) for TxDOT and then operate the bridge for 30 years by collecting and retaining toll revenue.
In return for the transfer of ownership of the bridge at the end of the 30 years, TxDOT gives CBA the right to operate the bridge and to set, collect and retain toll revenues. Construction of the bridge is 30 percent completed at the end of the current fiscal year and will be completed and placed into service at the end of fiscal 20XX. The cost of construction of the bridge for CBA is $1.2 billion and the bridge’s expected useful life is 40 years. CBA’s estimated carrying value of the bridge at the end of the arrangement is $300 million ($1.2 billion × 10 years of remaining service/40 years expected useful life).
The arrangement does not meet the criteria of an SCA because CBA has the authority to set the prices for tolls. CBA is not a component unit of TxDOT.
Accounting at the Commencement of the PPP Term
The agency (transferor) must not recognize any amounts as the bridge has not yet been placed into service. No USAS entry needed.
Accounting When the Underlying PPP Asset is Placed into Service
The agency (transferor) must recognize a receivable in the amount of $300 million for the operator’s estimated carrying value of the bridge at the end of the arrangement and a $300 million deferred inflow of resources.
Business-Type Activities
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | COBJ | Amount | R | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record PPP Receivable for Carrying Value of Bridge | ||||||||||||
| (1) | 5 | U | XXXXCY | XXX | 644 | CY | 99999 | N/A | $300,000,000 | XXXX | 0490 | |
| To Record Deferred Inflows of Resources – PPP | ||||||||||||
| (2) | 5 | U | XXXXCY | XXX | 645 | CY | 99999 | N/A | $300,000,000 | XXXX | 1490 | |
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Record PPP Receivable for Carrying Value of Bridge | ||
| 0490 NC PPP Asset Receivable | $ 300,000,000 | ||
| 9999 System Clearing | $ 300,000,000 | ||
| (2) | To Record Deferred Inflows of Resources – PPP | ||
| 9999 System Clearing | $ 300,000,000 | ||
| 1490 Deferred Inflow of Resources – PPP | $ 300,000,000 |
Governmental Activities
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | COBJ | Amount | R | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record PPP Receivable for Carrying Value of Bridge | ||||||||||||
| (1) | 5 | U | XXXXCY | XXX | 534 | CY | 99999 | N/A | $300,000,000 | XXXX | 0690 | |
| To Record Deferred Inflows of Resources – PPP | ||||||||||||
| (2) | 5 | U | XXXXCY | XXX | 535 | CY | 99999 | N/A | $300,000,000 | XXXX | 1990 | |
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Record PPP Receivable for Carrying Value of Bridge | ||
| 0690 BC NC PPP Asset Receivable | $ 300,000,000 | ||
| 9992 BC System Clearing | $ 300,000,000 | ||
| (2) | To Record Deferred Inflows of Resources – PPP | ||
| 9992 BC System Clearing | $ 300,000,000 | ||
| 1990 BC Deferred Inflow of Resources – PPP | $ 300,000,000 |
Accounting in Subsequent Years
The agency (transferor) must:
- Recognize revenue in the amount of $10 million each year with a corresponding reduction in the deferred inflow of resources if the agency elects the straight-line method of reporting.
- Eliminate its receivable (at the end of the arrangement) related to the arrangement,
- Recognize a capital asset for the operator’s estimated carrying value of the bridge.
Business-Type Activities
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | COBJ | Amount | R | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record Amortization of Deferred Inflows of Resources Related to Bridge Each Year of the PPP Term | ||||||||||||
| (1) | 5 | U | 0832CY | XXX | 631 | CY | 99999 | 3XXX | $10,000,000 | XXXX | 1490 | |
| To Eliminate PPP Asset Receivable | ||||||||||||
| (2) | 5 | U | XXXXCY | XXX | 645 | CY | 99999 | N/A | $300,000,000 | XXXX | 0490 | |
| To Recognize Bridge as a Capital Asset | ||||||||||||
| (3) | 5 | U | XXXXCY | XXX | 644 | CY | 99999 | N/A | $300,000,000 | XXXX | XXXX* | |
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Record Amortization of Deferred Inflows of Resources Related to Bridge Each Year of the PPP Term | ||
| 1490 Deferred Inflows of Resources – PPP | $ 10,000,000 | ||
| 5100 GAAP Revenue Offset | $ 10,000,000 | ||
| (2) | To Eliminate PPP Asset Receivable | ||
| 9999 System Clearing | $ 300,000,000 | ||
| 0490 NC PPP Asset Receivable | $ 300,000,000 | ||
| (3) | To Recognize Bridge as a Capital Asset | ||
| XXXX* GL Account for Capital Assets | $ 300,000,000 | ||
| 9999 System Clearing | $ 300,000,000 |
*For more information on GL accounts for capital assets business-type activities, see Recording Capital Asset Acquisitions. For more information on capital asset object codes, see Capital Asset Object Codes.
Governmental Activities
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | COBJ | Amount | R | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record Amortization of Deferred Inflows of Resources Related to Bridge Each Year of the PPP Term | ||||||||||||
| (1) | 5 | U | 0832CY | XXX | 511 | CY | 99999 | 3XXX | $10,000,000 | XXXX | 1990 | |
| To Eliminate PPP Asset Receivable | ||||||||||||
| (2) | 5 | U | XXXXCY | XXX | 535 | CY | 99999 | XXXX | $300,000,000 | XXXX | 0690 | |
| To Recognize Bridge as a Capital Asset | ||||||||||||
| (3) | 5 | U | XXXXCY | XXX | 534 | CY | 99999 | N/A | $300,000,000 | XXXX | 06XX* | |
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Record Amortization of Deferred Inflows of Resources Related to Bridge Each Year of the PPP Term | ||
| 1990 BC Deferred Inflows of Resources – PPP | $ 10,000,000 | ||
| 5150 BC Revenue Control | $ 10,000,000 | ||
| (2) | To Eliminate PPP Asset Receivable | ||
| 9992 BC System Clearing | $ 300,000,000 | ||
| 0690 BC PPP Asset Receivable | $ 300,000,000 | ||
| (3) | To Recognize Bridge as a Capital Asset | ||
| 06XX* BC GL Account for Capital Assets | $ 300,000,000 | ||
| 9992 BC System Clearing | $ 300,000,000 |
*For more information on GL accounts for capital assets – government-wide activities, see Recording Capital Asset Acquisitions. For more information on capital asset object codes, see Capital Asset Object Codes.