ENTRY NO. 30 – SETTLEMENT TO GRANTOR FROM THE CONDEMNATION DEPOSITS FUND - 10530

(Revised: 12/2021)

Purpose: This entry is made in lieu of Entry No. 28 when payment is made to the grantor (property owner) by a warrant drawn on the Condemnation Deposits Fund. If the amount of the settlement is more than the amount of the original deposit, an additional deposit will be made and recorded by Entry No. 27. If the amount of the settlement is less than the original deposit, the excess amount will be transferred to the agency/department's fund and appropriation.

 

References: SAM sections 6866, and 8610.6.

Record Return of Funds for Condemnation Proceedings

Debit/ Credit	Account	Legacy Account	Account Description	Note
Debit	3509000	5390	Reserves – Other	a
Credit	1903000	2730	Deposits in Condemnation Proceedings	a
Debit	124xxxx	1400	Due From Other Funds or Appropriations	b
Credit	5xxxxxx	9000	Appropriation Expenditures	b

Note:

1. Reverse amount transferred to the Condemnation Deposits Fund.
2. Amount of abatement due from the Condemnation Deposits Fund if the settlement is less than the original deposit.

Entries for Capital Asset Accounts

 

Subsidiary Capital Assets Group of Accounts Ledger

Debit/ Credit	Account	Legacy Account	Account Description	Note
Debit	1600000	2310	Land	a
Debit	1603000	2331	Improvements Other than Buildings	a
Credit	3200000	5200	Investment in Capital Assets	a

Note:

a.  Record capital assets acquired in the Capital Assets Group of Accounts. Agencies/departments using FI$Cal will record capital asset purchases in the Departmental Adjustment Ledger.