216100-216220 - Bonds & Interest Payable

Bonds Payable

This account subgroup is used to record the principal payment related to bond indebtedness which has matured or will mature within one year.

216100 Revenue Bonds Payable (old title: Coupon Bonds Payable)

This account is used to record the principal payment related to revenue bond indebtedness which has matured or will mature within one year.  (Note: Account was formerly titled Coupon Bonds Payable.  Effective for year end 6/30/03, account 216100 must only be used for revenue bonds payable as defined above. See account 226101 for General Obligation Bonds payable.)

216103 Grant Anticipation Revenue Bonds Payable-current (GARVEE bonds)

216104 Direct Placements
This account is used to record the outstanding principal related to direct placement indebtedness which has matured or will mature within one year of the balance sheet date.  Direct placements have terms negotiated directly with an investor and are not offered for public sale.  Issuing a debt security directly to an investor, such as the sale of a new debt security issue to a limited number of buyers rather than to the general public is a direct placement.  Bonds payable that are not offered for public sale should be classified as direct placements.

216105 Certificates of Participation Payable

216106 Limited Obligation Bonds Payable - Current

Interest Payable

This account consists of interest which has matured but remains unpaid and accrued interest.

216210 Matured Interest Payable

This account is used to record unpaid interest on bonds that have reached or passed their maturity date.

216220 Accrued Interest Payable

This account is used to record interest costs that have been incurred but is not due until a later date.