FIN 06-30
*All entries will be entered as year-end closing transactions with a Standard Voucher document. The document number will include the year-end designator of "YY." For example, 4036Y-Y0001.
A. Investment Repaid from Revenues
Interest on investment will be accounted for on the basis of a project or project unit, recorded in the accounts as follows:
Debit: SGL 6310 - Interest Expense To Treasury (Unfunded)
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Project Cat |
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63A Interest on Investment-Power |
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63A Interest on Investment-M&I |
Credit: SGL 3310 - Cumulative Results of Operations
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Project Cat |
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33I Interest Federal Invest-Power |
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33I Interest Federal Invest-M&I |
B. Investment Repaid by Repayment Contracts
Interest on investment will be accounted for on the basis of repayment contracts, in accounts as follows:
Debit: SGL 1322 - Accounts Receivable Billed Public
(Post Flag/Project Type/Project Category not applicable.)
Credit: SGL 3310 - Cumulative Results of Operations
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Project Cat |
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33I Interest Federal Invest-Power |
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33I Interest Federal Invest-M&I |
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33I Interest Federal Invest-Other |
If interest exceeds scheduled repayment, the difference will be charged to SGL 1991 - Other Assets.
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Project Cat |
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195 Miscellaneous |
Interest on repayment contracts which is not due at fiscal yearend will be accrued on September 30 as follows:
Debit: SGL 1991 - Other Assets
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Project Cat |
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195 Miscellaneous |
Credit: SGL 3310 - Cumulative Results of Operations
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Project Cat |
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33I Interest Federal Invest-Power |
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33I Interest Federal Invest-M&I |
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33I Interest Federal Invest-Other |
This entry will be reversed at the beginning of the next fiscal year.