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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 4 of 5)
 
Capital Project # 1
Date Description Sub Acct# Amount Account # Debit Credit
GJ#15            
BAN Payable     H626 10,075  
  Revenues     H980   10,075
  BANs Redeemed from Appropriations H5731 10,075      
 
To record payment of BAN principal from water fund
 
  Collateral Entries in Water Fund and Non-Current Governmental Liabilities
7/15/X2 Expenditures     FX522 22,075  
  BAN Principal FX9730.6 10,075      
  BAN Interest FX9730.7 12,000      
  Cash     FX200   22,075
 
To record payment of debt principal & interest on BAN in capital projects fund **
 
7/15/X2 Expenditures     FX522 72,000  
  Debt Principal FX9710.6 59,000      
  Debt Interest FX9710.7 13,000      
  Cash     FX200   72,000
 
To record the Serial Bond debt payment **
 
7/15/X2 Bonds Payable     W628 59,000  
 
Total Non-Current Governmental Liabilities
    W125   59,000
 
To record the Serial Bond debt payment from the water fund
GJ#16            
Cash     H200 22,200  
  Cash with Fiscal Agents     H223   22,200
 
To record receipts of wire transfer from EFC for expenditures (Final Draw) **
GJ#17            
Retained Percentages     H605 169,800  
  Cash     H200   169,800
 
To record the payment to contractors for retained amounts (10%) withheld during project **
GJ#18            
7/30/X2
Expenditures     H522 67,000  
  Transfer to Other Fund H9901.9 67,000      
  Cash     H200   67,000
 
To transfer residual money from project to Debt Service Fund **
 
  Collateral Entry in the Debt Service Fund
7/30/X2 Cash     V200 67,000  
  Revenues     V980   67,000
  Interfund Transfer V5031 67,000      
 
To record residual money from project in Debt Service Fund **
 
7/30/X2 Appropriations     H960 67,000  
  Project Expenditures H8397.2 67,000      
  Appropriations     H960   67,000
  Transfer to Other Fund H9901.9 67,000      
 
To record budget transfer from Project Expenditures to Transfer to Other Funds
GJ#19            
BANs Payable     H626 289,925  
  Revenues     H980   289,925
  Serial Bonds H5710 289,925      
 
To record sale of Serial Bonds to pay off BANs outstanding in the project
  Collateral Entry in Non-Current Governmental Liabilities Group
8/15/X2 Total Non-Current Governmental Liabilities     W125 289,925  
  Bonds Payable     W628   289,925

 
To record the issuance of a serial bond to pay off BANs in capital projects fund
** 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

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