9 CRR-NY 1644-3.5NY-CRR
STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 9. EXECUTIVE DEPARTMENT
SUBTITLE S. DIVISION OF HOUSING AND COMMUNITY RENEWAL
CHAPTER III. LOW RENT HOUSING
SUBCHAPTER D. ACCOUNTING MANUAL FOR PUBLIC HOUSING AGENCIES
PART 1644. DEBT SERVICE
SUBPART 1644-3. DEBT SERVICE SUBSEQUENT TO ISSUANCE OF HOUSING BONDS
9 CRR-NY 1644-3.5
9 CRR-NY 1644-3.5
1644-3.5 Payment of interest.
The charge for the payment of interest on housing bonds made in advance by the local agency is held in suspense in account 1124, State Housing Debt Fund, until the date the Comptroller is scheduled to make the payment to the bondholders. Payment of interest on housing bonds therefore entails two entries, as follows:
Entry (1): When the voucher for the remittance of the interest to the division is drawn:
Debit: Account 1124, State Housing Debt Fund
$XXX
Credit: Account 1111, Development Fund
$XXX
or
Account 1112, Administration Fund
$XXX
Entry (2): By journal entry, on the date the interest is due to be paid to the bondholders.
Debit: Account 2132.1, Accrued Interest
Payable, State of New York
$XXX
Credit: Account 1124, State Housing Debt Fund
$XXX
Explanation:
To record the payment of semiannual interest, due____, 19 ____, on State housing bonds by the State Comptroller.
9 CRR-NY 1644-3.5
Current through September 15, 2021
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.