Issue Date: 2005-09-01
Revised Date: 2006-09-01

Object Type

Cash — Debt Service

Reference

For Fund Type definitions, please consult your AFR Reporting Requirements or your Financial Reporting Analyst.

Description

To record the payment of interest using Proprietary Funds on evidence of indebtedness or on judgments against the state.

This code includes:

  • Capital lease interest
  • Lease purchase interest
  • Interest on state bonds (for other than program loans as defined by GASB Statement 9)

This code may also be used to record payment of non-operating "direct" interest expense on long-term debt using Governmental Funds as directed by GASB 34, paragraph 46, which requires that interest on long-term debt be classified as direct when borrowing is essential to the creation or continued existence of a program.

Expenditure code 7815 includes, but is NOT limited to:

  • Interest (long-term proprietary -- non-op.)

Note

This code does NOT include:

  • Long-term debt interest using governmental or fiduciary funds (7801)
  • Long-term debt operating interest using proprietary funds (program loans as defined by GASB Statement 9) (7814)
  • Late payment fees (interest) to the SSA or IRS (7210)
  • Interest amounts on judgments against the state (7241)

USAS Values

Appropriation Year 20
USAS Title INTEREST LT DEBT-NONOP-GOV/PROP-DIRECT
Object Group 10 – Expenditures
USAS Status A
Rev/Exp Category 11 – PAYMENT OF INTEREST - DEBT SERVICE