DEFERRED CHARGES AND OTHER ASSETS - 7627-JUN-2005
ACCOUNT NUMBER 2500, Provision for Deferred Interfund Loans Payable Shows provision for interfund loans not payable within one year.
ACCOUNT NUMBER 2600, Deferred Charges
Shows, as of June 30 each year, office revolving fund disbursements to be charged to the succeeding fiscal year appropriation.
ACCOUNT NUMBER 2700, Other Assets
A summary account of other assets to be used for financial reporting purposes (Accounts 2710 through 2790).
ACCOUNT NUMBER 2710, Permanent Cash Revolving Fund
Shows permanent cash advances made to an agency from a fund. This is not an advance made from an appropriation.
ACCOUNT NUMBER 2720, Securities and Other Property Held in Trust
Shows any property other than cash that is held in trust. It includes securities held in trust, such as bank passbook accounts or certificates of deposit, to guarantee compliance with certain state requirements. It does not include surety bonds or other similar policies. This account is used regardless of whether the agency holds the property or sends it to the State Treasurer for safekeeping.
Use of this account requires separate accounting and reporting. In most instances, State of California accounting involves recording and reporting on activities that have occurred in a fund in the State Treasury. There are some exceptions to this procedure, one of which is assets held in trust outside the State Treasury. Although assets held in trust outside the centralized State Treasury System have not been remitted/identified to a specific fund, the activities must still be reported for financial purposes. Therefore, assets held in trust must be recorded and reported as if they were activities related to a unique and separate fund.
Departments that use this account should keep a separate ledger and prepare separate year-end financial statements for activities of this account. For accounting systems that require an individual fund number to segregate activities, departments are instructed to use fund Number 0990 - Fiduciary Funds Outside the Centralized Treasury System.
ACCOUNT NUMBER 2730, Deposits in Condemnation Proceedings
Shows deposits in the Condemnation Deposits Fund and in courts pertaining to condemnation suits on which final settlement has not yet been made either from the Condemnation Deposits Fund or from other funds. These deposits are fully reserved in Account Number 5390, Other Reserves.
ACCOUNT NUMBER 2740, Inventory of Surveyed Property
Shows the estimated sales value of surveyed property at the end of any fiscal year in which the new equipment has been paid or will be paid from the appropriation being reported.
The estimated sales value must have been budgeted as an abatement in accordance with SAM Section 10220 item 6.
ACCOUNT NUMBER 2770, Authorized Securities–Unissued
A summary account of authorized securities which have not yet been issued (Accounts 2771 through 2776). This account balance is offset in Account 2780, Provision for Unissued Authorized Securities (CR).
ACCOUNT NUMBER 2771, Veterans Farm and Home Construction Contracts Authorized– Unissued
Shows outstanding commitments for homes being constructed for veterans by contractors. This account balance is offset in Account Number 2780, Provision for Unissued Authorized Securities (CR).
ACCOUNT NUMBER 2772, Loans Authorized–Unissued
Shows loans authorized but unissued. This account balance is offset in Account Number 2780, Provision for Unissued Authorized Securities (CR).
ACCOUNT NUMBER 2773, Building Certificates Authorized–Unissued
Shows unissued certificates authorized pursuant to the State Building Construction Act of 1955. This account balance is offset in Account Number 2780, Provision for Unissued Authorized Securities (CR).
ACCOUNT NUMBER 2774, Bonds Authorized–Unissued
Shows bonds authorized but unissued. This account balance is offset in Account Number 2780, Provision for Unissued Authorized Securities (CR).
ACCOUNT NUMBER 2775, Notes Authorized–Unissued
Shows notes authorized but unissued. This account balance is offset in Account Number 2780, Provision for Unissued Authorized Securities (CR).
ACCOUNT NUMBER 2776, Authorized Securities – Unissued
Shows securities authorized but unissued. This account balance is offset in Account Number 2780, Provision for Unissued Authorized Securities (CR).
ACCOUNT NUMBER 2780, Provision for Unissued Authorized Securities (Credit Balance)
This account balance offsets Account Number 2770, Authorized Securities–Unissued. ACCOUNT NUMBER 2790, Other Assets
Shows other assets not otherwise classified.
ACCOUNT NUMBER 2800, Amount Available in Debt Service Funds
An account which shows assets available for the retirement of general long-term debt.
ACCOUNT NUMBER 2900, Amounts to be Provided for Retirement of General Long-Term Debt
A summary account of amounts to be provided for the retirement of long-term debt used for financial reporting purposes (Accounts 2910 and 2920).
ACCOUNT NUMBER 2910, Amount to be Provided for Retirement of General Obligation Long- Term Debt
An account which shows amounts to be provided from taxes or other general revenues to retire outstanding general obligation long-term debt.
ACCOUNT NUMBER 2920, Amount to be Provided for Other Long-Term Debts
An account which offsets certain other large long-term liabilities under special circumstances, usually where one fund records the liability but the obligation will be paid from the resources of another fund or from a future appropriation.