Other Current Assets (COA)
Other Current Assets
This account group includes all other current assets not classified elsewhere.- 119100 Prepaid Items
- 119200 Bond Issuance Cost
- 119300 Securities Held In Trust
- 119400 Food Stamps
- 119500 Amt Provided for LTD Ret
- 119600 Funds held in Trust By Others
This account includes expenses paid in the current period which are applicable to a future period. Insurance, rents and subscription are among the types of items which may be prepaid. This account should not be used for governmental fund types. See the Prepaid Items policy.
This account has been changed to inactive and invalid. Deferred charges rising from issuing bonds should not be recorded as a current asset but rather as anoncurrent asset, account 129400 Bond issuance cost-noncurrent for proprietay fund accounting. Governmental funds record bond issuance cost as expenditure and do not record as deferred charges.
This account consists of securities held by the State received from various sources (i.e., insurance companies, mining operations, and fertilizer and seed companies) to insure the performance of statutory responsibility. These securities are not available for use by the state as long as these entities or individuals comply with statutory requirements.
To record the year end food stamp inventory balance.
Amount to be provided for LTD Retirement
Resources neither in the possession nor control of a university, but held and administered by an outside organization with the university deriving income from such funds. Includes funds established under irrevocable trusts where the university has legally enforceable rights or claims.