535311-535337 - Debt Service

Debt Principal:

  • 535311 Bond Principal Payments
    For agencies and universities to record bond principal payments including direct placements and 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 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 Lease Interest Payments
  • 535324 Other Interest
  • 535325 Other Interest - Nonoperating
    Used by proprietary funds only.
  • 535326 Amortization –Debt discounts, premiums, and refunding deferrals
    For 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 nonoperating interest expense. This acct is not valid for governmental funds.

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 expensing debt issuance costs in the period in which they are incurred. For proprietary funds, this is a miscellaneous nonoperating expense.
  • 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 in Current Refunding
    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 “Principal retirement" expenditures caption on 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. 
  • 535341 Loss on in-substance defeasance of debt
    This account is used to report the difference between the reacquisition price and the net carrying amount of the debt when a government places cash and other monetary assets acquired with only existing resources with an escrow agent for an in-substance defeasance of debt. This account is not valid for governmental funds. For proprietary fund accounting, this account is classified as a nonoperating expense. On the Statement of Activities, this account is classified as Program revenues – Operating grants and contributions.