State of Texas – Fiscal Management

Manual of Accounts

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Revenue Object 3890 – Issuance of Direct Placements
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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 placement debt by a state agency authorized to issue debt in statute or the Texas Constitution. Direct placement is sale of debt securities to a single buyer or to a limited number of buyers without a public offering. Generally conducted by an investment banker or other agent.



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 PLACEMENTS
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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