State of Texas – Fiscal Management

Manual of Accounts

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Revenue Object 3889 – Issuance of Direct Borrowings
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Legal Citations:
Revenue Type: Cash — Other Revenue
Origin Date: September 1, 2020
Issue Date: 2019-09-01
Revised Date:

Description

To record proceeds from the issuance of direct borrowing debt by a state agency authorized to issue debt in statute or the Texas Constitution. A borrowing is a loan instrument where the borrower goes directly to the lending source (for example, borrowing money from a bank). The direct borrowing is generally conducted without the use of an agent, such as a broker or investment banker.

Due Date

At the time of issuance.

Collecting Agencies

  • The administering state agency.

Deposit Funds

  • The appropriate fund or account

Notes

Added to implement GASB Statement No. 88.

USAS Values

Appropriation Year 26
USAS Title ISSUANCE OF DIRECT BORROWINGS
Receipt Category 14 – Other
Receipt Type 56 – Investments, Loans, Advances
Object Group 30 – Revenues
USAS Status A
Rev/Exp Category 23 – BOND AND NOTE PROCEEDS



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