M E M O R A N D U M NO. SAD 02-15
 

TO:	Vice Chancellors
FROM:	Robert L. Powell  State Controller Don Waugh Assistant State Controller
SUBJECT:	Higher Education Bonds - Clarification of Memo #SAD 01-55

Memorandum SAD 01-55 identified the year-end entries required to reflect the 2000 bond proceed capital project budget codes accounting transactions according to General Accepted Accounting Principles (GAAP).  Sample entries were given.  For entry number 2 the memo indicated that the “Excess of Expenditures over Revenues” line under the “Year to Date” column on the BD725 could be used to obtain the amount of the state aid/bond proceeds used during the fiscal year.  For entry number 3 the memo indicated that the “Excess of Expenditures over Revenues” line under the “Allotment Balance” column on the BD725 could be used to obtain the receivable accrual amount.  This assumption, however, may not be valid in all cases.  Therefore, the year to date expenditures will have to be analyzed each year to determine the amount of year to date expenditures supported by bond proceeds (entry 2).  The “Allotment Balance” Column will also have to be analyzed to determine the receivable for the bond proceeds due from primary government (entry 3).

If you have any questions about recording the accounting transactions in NCAS, please contact Terri Noblin at (919) 981-5482.  Thank you for your assistance.