Facilities Conservation Improvement Program agency repayments have historically, in accordance
with generally accepted accounting principles, been classified as capital assets for financial
reporting purposes under the 42XX Buildings and Improvements expenditure sub-object series. However,
under budgetary definitions and reporting purposes, these payments are considered "debt service".
In an effort to maintain the accounting and reporting classification as capital assets, and simultaneously identify, for budgetary reporting purposes, the "debt service" components of these capital improvement expenditures, two additional capital asset expenditure sub-object codes are being established as follows: 4210 - Facilities Conservation Improvement Program - Principal - Buildings and Improvements - Capital/Inventory: This captures the principal component of agency intergovernmental payments made to the Department of Administration - Facilities Conservation Improvement Program. 4211 - Facilities Conservation Improvement Program - Interest - Buildings and Improvements - Capital/Inventory: This captures the interest component of agency intergovernmental payments made to the Department of Administration - Facilities Conservation Improvement Program. Agencies participating in the Facilities Conservation Improvement Program should begin using these sub-object codes immediately. Journal voucher adjustments will be processed centrally by the Division of Accounts and Reports to change the coding of all FY 2006 year-to-date processed Facilities Conservation Improvement Program transactions. This revision is reflected in the Uniform Expenditure Classification of Expenditure Sub-object Code (PPM Filing No. 7,002) on the Accounts and Reports web site: http://www.da.ks.gov/ar/ppm/ppm01001.htm DB:me
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