7634 LONG-TERM LIABILITIES
(Revised 06/05)
ACCOUNT NO. 4000, Advances and Loans Payable
A summary account of long-term advances and loans payable used for financial reporting purposes (Accounts 4010 through 4050).
ACCOUNT NO. 4010, Advances From Other Funds
Shows the noncurrent portion of long-term repayable advances owed to other funds.
Agencies will keep a separate subsidiary account which shows the amount advanced from each fund. The fund will be identified by name in the subsidiary account title. The number of each such subsidiary account will be 4010 plus a suffix consisting of a decimal point and the Uniform Codes Manual (UCM) code number of the fund. (For example: 4010.0001, Advances From General Fund).
ACCOUNT NO. 4020, Interfund Construction Loans Payable
A summary account of interfund construction loans payable used for financial reporting purposes (Account 4021 and 4022).
ACCOUNT NO. 4021, Interfund Building Certificates Payable
Shows the noncurrent portion of the long-term liability of the Public Buildings Construction Fund to other funds for certificates issued pursuant to the State Building Construction Act of 1955.
Agencies will keep a separate subsidiary account which shows the amount borrowed from each fund. The fund will be identified by name in the subsidiary account title. The number of each such subsidiary account will be 4021 plus a suffix consisting of a decimal point and the UCM code number of the fund. (For example: 4021.0001, Interfund Building Certificates Payable to General Fund).
ACCOUNT NO. 4022, Interfund Building and Construction Loans Payable
Shows the noncurrent portion of the long-term liability for building and construction loans (evidenced by documents other than certificates issued pursuant to the State Construction Act of 1955).
Agencies will keep a separate subsidiary account which shows the amount borrowed from each fund. The fund will be identified by name in the subsidiary account title. The number of each such subsidiary account will be 4022 plus a suffix consisting of a decimal point and the UCM code number of the fund. (For example: 4022.0001, Interfund Building and Construction Loans Payable to General Fund.)
ACCOUNT NO. 4050, Interfund Loans Payable
Shows the noncurrent portion of the long-term liability for interfund loans.
Agencies will keep a separate subsidiary account which shows the amount borrowed from each fund. The fund will be identified by name in the subsidiary account title. The number of each subsidiary account will be 4050 plus a suffix consisting of a decimal point and the UCM code number of the fund. (For example: 4050.0001, Interfund Loans Payable to General Fund.)
ACCOUNT NO. 4200, Installment Contracts
A summary account of installment contract liabilities used for financial reporting purposes (Accounts 4210 and 4220).
ACCOUNT NO. 4210, Installment Contracts Payable
Shows the liability for future installment payments on assets purchased under installment purchase contracts.
ACCOUNT NO. 4220, Lease/Purchase Contracts
Shows the liability for future payments on fixed assets rented under a lease-purchase contract.
ACCOUNT NO. 4300, Notes Payable
A summary account of notes payable used for financial reporting purposes (Accounts 4310 through 4330).
ACCOUNT NO. 4310, Notes Payable
Shows the notes outstanding at face amount.
ACCOUNT NO. 4320, Notes Payable-Premium
Shows unamortized premium on notes sold at more than face amount. The premium is amortized over the life of the note.
ACCOUNT NO. 4330, Notes Payable-Discount
Shows unamortized discount on notes sold at less than face amount. Discount is amortized over the life of the note.
ACCOUNT NO. 4400, Bonds Payable
A summary account of bonds payable used for financial reporting purposes (Accounts 4410 through 4430).
ACCOUNT NO. 4410, Bonds Payable
Shows the bonds outstanding at face amount.
ACCOUNT NO. 4420, Bonds Payable-Premium
Shows unamortized premium on bonds sold at more than the face amount. The premium is amortized over the life of the bond.
ACCOUNT NO. 4430, Bonds Payable-Discount
Shows unamortized discount on bonds sold at less than the face amount. The discount is amortized over the life of the bond.
ACCOUNT NO. 4700, Other Long-Term Liabilities
Shows long-term liabilities not otherwise classified.
