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NYS Comptroller

THOMAS P. DiNAPOLI

The Academy for New York State's Local Officials

Capital Planning and Budgeting

Capital Planning and Budgeting: A Tutorial for Local Government Officials

Module 3 - From Plans to Projects

Sample Capital Project - Journal Entries

Capital Projects Fund
General Journal
(page 2 of 5)
 
Capital Project # 1
Date Description Sub Acct# Amount Account # Debit Credit
GJ#3            
Cash     H200 300,000  
  BANs Payable     H626   300,000
 
To record receipt of proceeds of BAN **
GJ#4            
Project Expenditures     H522 35,000  
  Engineer Fees H1440.2 35,000      
  Cash     H200   35,000
 
To record payment of engineer fees for project **
GJ#5            
Project Expenditures     H522 343,000  
  Water Capital Project H8397.2 343,000      
  Cash     H200   308,700
  Retained Percentages     H605   34,300
 
To record payment to contractors for work completed (10% to be retained)
GJ#6            
Cash     H200 378,000  
  Cash with Fiscal Agents     H223   378,000
 
To record receipts of wire transfer from EFC for expenditures **
GJ#7            
Project Expenditures     H522 314,800  
  Water Capital Projects H8397.2 314,800      
  Cash     H200   283,320
  Retained Percentages     H605   31,480
 
To record payment to contractors for work completed (10% to be retained)
GJ#8            
Fund Balance, Unreserved     H909 692,800  
  Project Revenues     H522   692,800
 
To close project expenditures at end of year
 
Project Expenditures     H980 1,500,000  
 
Fund Balance, Unreserved
    H909   1,500,000
 
To close project revenues at end of year
GJ#9            
Water Capital Projects H8397.2 64,800      
  Cash     H200   58,320
  Retained Percentages     H605   6,480
 
To record payment to contractors for work completed (10% to be retained)
** Indicates a transaction that could be posted in a Special Journal, such as the Cash Receipts or Cash Disbursements Journals, instead of the General Journal.