NCAS

Debt Service (COA)

Debt Principal:

  • 535311 Bond Principal Payments
    For agencies and universities to record bond principal payments including special indebtedness - Limited obligation bonds (LOBs), certificates of participation (COPs), etc. Universities and other proprietary funds may use this account for cash basis monthly accounting, but the account must be zeroed out for 6/30 year-end reporting.
  • 535312 Anticipation Notes Principal Payments
  • 535313 Capital Lease Principal Payments
  • 535314 Other Principal Payments

Note:  Universities and other proprietary funds may also use accounts 535312, 535313, and 535314 for cash basis monthly accounting, but the account must be zeroed out for 6/30 year-end reporting

Debt Interest and Amortization

  • 535321 Bond Interest
    For agencies and universities to record bond interest including special indebtedness - Limited obligation bonds (LOBs), certificates of participation (COPs), etc.
  • 535322 Anticipation Notes Interest
  • 535323 Capital Lease Interest
  • 535324 Other Interest
  • 535325 Other Interest - Nonoperating
    Used by proprietary funds only.
  • 535326 Amortization – Debt discounts, premiums, and refunding deferrals
    Amortization of debt discounts/premiums and the difference between the reacquisition price and net carrying amount of the old debt for current/advance refundings resulting in defeasance of debt. For proprietary fund year-end reporting, this account rolls to interest expense, nonoperating.  This account should not be used for amortization of debt issuance costs recorded as deferred charges – use account 535332 instead.

Other Debt Service Costs

  • 535331 Fiscal Agent and Other Fees
  • 535332 Bond Issue Cost
    Payments to bond underwriters, legal fees, and other costs associated with debt issuance. This account may be used by governmental and proprietary funds. For governmental funds, this account rolls with expenditures to a separate caption for Debt issuance costs.  For proprietary funds, this account should be used for amortization of debt issuance costs recorded as deferred charges; this rolls to miscellaneous nonoperating expenses.
  • 535332001 Bond Issue Costs-Refunding
    Payments to bond underwriters, legal fees, and other costs associated with refunding debt
  • 535332002 Bond Issue Costs-Other
  • 535333 Payments to Refunding Debt Escrow Agent
    Payments to an escrow agent from advance refunding bond proceeds that are to be placed in irrevocable trust. For 6/30 GAAP reporting, it is only valid for governmental funds and rolls to the “Other financing sources (uses)” section of the operating statement. Proprietary funds may use this account for cash basis reporting, but it must be zero for 6/30 year-end reporting.
  • 535334 Payment of Debt Service Principal
    The use of new debt proceeds to repay old debt immediately.  This account is only applicable to a current refunding.  For 6/30 GAAP reporting, it is only valid for governmental funds and rolls to the “Other financing sources (uses)” section of the operating statement.  Proprietary funds may use this account for cash basis reporting, but it must be zero for 6/30 year-end reporting.
  • 535336 Arbitrage Expense
  • 535337 Bond Discount
    This account is for use by governmental funds only and rolls to the “Other financing sources (uses)” section of the operating statement.  This account is not valid for proprietary funds.