Issue Date: 2013-05-21
Revised Date:

Object Type

Cash — None

Reference

Description

To record the payment of interest awarded by a court on a judgment against the state.

Expenditure code 7241 includes, but is NOT limited to:

  • Post judgment interest award by a court
  • Pre-judgment interest award by a court

Note

Settlements and judgments are processed with required pre-payment review of the governor and the attorney general. They require pre-payment audit approval by the comptroller to ensure that all requirements are met and all reviews have been performed.
For tracking purposes, the claims must be coded exactly in accordance with comptroller instructions.

This code does NOT include:

·         Interest on long-term debt (Operating) using proprietary funds (7814)

·         Interest on long-term debt (Non-Operating) using proprietary funds (7815)

·         Late payment fees (interest) to the SSA or IRS (7210)

·         Principal amounts of judgments against the state (7225, 7226, 7229)

·         Long-term debt interest using governmental or fiduciary funds (7801)

·         Interest-Other (7802)

 

USAS Values

Appropriation Year 20
USAS Title SETTLEMENT & JUDGMENT INTEREST
Object Group 10 – Expenditures
USAS Status A
Rev/Exp Category 11 – PAYMENT OF INTEREST - DEBT SERVICE