ctcLink Accounting Manual | 10.30.45.1 Asset Accounts
10.30.45.1 Asset Accounts
2024-05-30
Account Type: 1000000-1999999 Assets
1000000 – Assets Budgetary
Account Classification: 1000000-1099999 Current Assets
1000002 – Current Assets Budgetary
Account Classification: 1100000-1199999 Non-Current Assets
1000002 – Non-Current Assets Budgetary
1000003 – Cash and Cash Equivalents Budgetary
| Account | Account Type | Description |
|---|---|---|
| 1000010 | Deposits in Transit | This account is used to record all cash received by an agency, but not yet deposited in a local bank account. Use this account if the college received a check from another state agency in July which has a June date. Deposits in transit solve timing problems between state agencies so interagency receivable and payable ledgers balance. Deposits in transit allows the state agency receiving the funds to record the deposit as revenue in old year business because the agency sending the check considers it an old year cash expenditure since the check is dated June. |
| 1000020 | Petty Cash | Used to record petty cash on hand or in bank accounts for the purpose of making change or paying small obligations. Accounts 1000020 and 3100002 must equal in Special Revenue, Endowment and Agency funds. |
| 1000030 | Deposits with Escrow Agents and Trustees | This account is used to record restricted cash and investments held by escrow agents and trustees that will be used in current operations for the payment of current liabilities. Examples include amounts held pursuant to a third party agreement that will be expended for current operations and amounts held to liquidate a current liability such as the retained percentage of contracts payable. Amounts held are considered restricted. |
| 1000040 | Non-LGIP Investments 0-90 Days | Used to record the non-LGIP temporary and/or pooled investment of surplus cash balances or those investments that are readily convertible to known amounts of cash and so near their maturity when purchased that they present insignificant risk of changes in value because of changes in interest rates. The balance in this account is treated as a cash equivalent in the college’s financial statements. |
| 1000050 | Investments with LGIP | Used to record the temporary investment of surplus funds with the Local Government Investment Pool managed by the Office of the State Treasurer (OST). The balance in this account is treated as a cash equivalent in the college’s financial statements. |
| 1000060/61 | Summary Cash | These accounts are used to convert Summary Cash (1150/1151) from Legacy but since ctcLink does not use Summary Cash, all Summary Cash entries should be cleared immediately following go-live. |
| 1000070 | Cash in Bank 1 | This account is used to record all cash held in the college’s primary bank account. This account should only be used when the transaction being record will reflect activity on the bank statement. For transactions which impact cash by fund, department, etc. see 1000199 – Internal Cash. |
| 1000080 through 1000160 | Cash in Bank 2-10 | These accounts are used to record all cash held in the college’s secondary and/or sweep accounts when the transaction being recorded will reflect activity on the bank statement. For transactions which impact cash by fund, department, etc. see 1000199 – Internal Cash. |
| 1000199 | Internal Cash | Used to record all cash transactions which will not be recorded in the bank. This account should be used for all transfers between funds, classes, departments, etc. Also used for payments to student accounts using financial aid or scholarships (Pell, State Need, Institutional Financial Aid, etc.). |
Accounts receivable the college has the right to receive because it has delivered a product or provided a service legally due in a year or less.
1010003 – Short-Term Receivables Budgetary
1010004 – Non-Student Accounts Receivables Budgetary
| Account | Account Type | Description |
|---|---|---|
| 1010010 | AR Contra | |
| 10100020 | Accounts Receivable Short-Term | The balance of this account represents amounts owed on open accounts from private individuals or organizations for goods and services furnished by the college. Any uncollectible accounts will be written off by using 1010110 - Allow-Uncollectable AR ST. |
| 1010030 | Interest Receivable-Investments – Short-Term | The balance of this account represents the amount of interest receivable on investments.1010040 |
| 1010040 | Other Interest Receivables – Short-Term | The balance of this account represents the amount of interest receivable on current assets except for investments where the interest receivable is recorded under 1010030. |
| 1010045 | Salaries & Benefits Receivable | The balance of this account code represents receivables due from individuals or organizations for salaries and fringe benefits. |
| 1010050 | Unbilled Receivable – Short-Term | The balance of this account represents the estimated amount of accounts receivable not yet billed or invoiced. |
| 1010060 | Other Receivables – Short-Term | The balance of this account represents other receivables billed or supported by other evidence of indebtedness. May be used for bookstore or NSF checks. Travel advances should use Account 1010230. Any uncollectible accounts will be written off by using Account 1010130. |
| 1010070 | Collections Receivables – Short-Term | The balance of this account represents receivables transferred to a collections agency. |
| 1010080 | AR Rebate Control | |
| 1010090 | Conversion Accounts Receivable | This account should only be used during the conversion process since accounts used during the billing/receivables process are configured within the modules. |
| 1010100 | Accounts Receivable Control | |
| 1010110 | Allowance for Uncollectible Accounts Receivable – Short-Term | The balance of this account represents the portion of accounts receivable estimated to be uncollectible. See Account 10100020. |
| 1010115 | Allowance for Uncollectible Accounts Receivable – Short-Term Clearing | |
| 1010120 | Allowance for Uncollectible Loans Receivable – Short-Term | The balance of this account represents the portions of loans receivable estimated will never be collected. See Account 1011110. |
| 1011199 | Student Accounts Receivable Error | This account is used only in Student Finance Write Off Uncollectable Student Debt item types. The account is recorded if this item type is applied an eligible receivable does not exist on the student account. |
| 1010130 | Allowance for Uncollectible Other Receivables – Short-Term | The balance of this account represents the portion of other receivables estimated to be uncollectible. See Account 1010060. |
| 1010140 | Due From Other Funds – Vendor Payment Advances (VPA) | This account was used in Legacy and was converted. Immediately after go-live, the college should have eliminated all entries that used 1010140/1000070 and the offset 1000070/2012010. The balance of this account represented the vendor payment advance due from other funds within a college. This account should be accompanied by a valid fund code in the subsidiary chartfield. Within a college, all Accounts 1010140 and 2012010 must be equal. |
| 1010150 | Due from Federal Government – Short-Term | The balance of this account represents amounts due from federal agencies. |
| 1010160 | Due from Other Governments – Short–Term | The balance of this account represents amounts due counties, municipalities, school districts, or other local units of government. |
| 1010170 | Due From Other Funds – Short-Term (Internal) | The balance of this account represents amounts due from other funds within the college. This account is to be accompanied by a valid fund code in the subsidiary field. Within a college, all Accounts 1010170 and 2012040 must equal. |
| 1010180 | Due from Other State Agencies – Short-Term | This account represents amounts due from other state agencies. This account is to be accompanied by a valid state agency code in the subsidiary field. Statewide, all Accounts 1010180 and 2012050 must be in balance; therefore, every effort should be made to communicate with the other state agencies involved. |
| 1010190 | Due from Other Funds – Pooled Cash – Short-Term | This account was used in Legacy and was converted. Immediately after go-live, the college should have eliminated all entries that used 1010190/1000070 and the offset 1000070/2012060. The balance of this account represents amounts of cash, summarized by fund, within a college used in Legacy. Surplus cash balances from all funds were pooled for the purpose of making investments. Within an agency, all Account 1010190 and 2012060 must equal each other. |
| 1010200 | Due From State Allocation | This account is used to record amounts due from the State Treasurer for expenditures made in state funds in ctcLink. Entries using this account should have a credit using the revenue account associated with each state fund (i.e. Account 4100010 – General Fund 001). This account should only be used in Fund 841 (should be moved to Fund 790 in the future) |
| 1010210 | Other Receivable Clearing | |
| 1010220 | Third Party Errors | This account is used when a Third Party Contract (External Organization) payment is applied to a student's account, but there are no eligible charges to pay off. Essentially, these are similar to unapplied payments since there are no receivables to relieve, the system records the error. When eligible charges are added to the student account, the Third Party Error is reversed and the receivable relieved |
| 1010230 | Travel Advances | This account is used in the Travel and Expense module to record the travel advances. Advances may not be issued more than 30 prior to the start of travel and must be accounted for (on a travel expense form) or returned by the 10th day in the month following travel. |
| 1010240 | Payroll Handwrites | This account is used to record payroll handwrites (manual checks). It crosswalks to the AFRS equivalent of 1010060. |
| 1010250 | Lease Receivable Short-Term | The balance of this account represents short-term portion (due in 12 months or less) of the amounts owed to the college for a right to use lease. Any uncollectible accounts should be written off using 1010260 – Allow-Uncollectable Lease Receivable Short-Term. |
| 1010260 | Allow-Uncollectable Lease Receivable Short-Term | The portion of leases receivable the college estimates will never be collected should be recorded using this account. |
Sub-Class: 1011000-1011999 – Student Accounts Receivables
| Account | Account Type | Description |
|---|---|---|
| 1011010 | SF Tuition Receivable | This account is used to record the amounts owed to the college for all tuition charges in state-supported programs. Since ctcLink uses full accrual accounting for student activities, receivables are recorded at the time the student registers for a course/class. |
| 1011020 | SF Fees Receivable | This receivable is used to record the amounts owed to the college for all fees charged in state-supported programs. As with tuition, ctcLink uses full accrual accounting for student fees. |
| 1011025 | SF Conversion Clearing | |
| 1011029 | Non-Refund Receivable Clearing | |
| 1011030 | Federal Student Loans | The balance in this account represents the gross amount loaned to students since the program’s inception. These amounts are not reported to AFRS and are used for federal reporting. |
| 1011040 | Federal Student Loans – Principal Collected | The balance in this account represents the total amount of principal collected since the program’s inception. These amounts are not reported to AFRS and are used for federal reporting. |
| 1011050 | Federal Student Loans – Principal Canceled | The balance in this account represents the total amount of principal canceled since the program’s inception. These amounts are not reported to AFRS and are used for federal reporting. |
| 1011060 | Federal Student Loans – Interest Canceled | The balance in this account represents the total amount of interest canceled since the program’s inception. These amounts are not reported to AFRS and are used for federal reporting. |
| 1011070 | Federal Student Loans – Assigned to Federal Government | The balance in this account represents the total amount of loan principal assigned to the federal government since the program’s inception. These amounts are not reported to AFRS and are used for federal reporting. |
| 1011080 | Federal Student Loans – Interest Assigned | The balance in this account represents the total amount of loan interest assigned to the federal government since the program’s inception. These amounts are not reported to AFRS and are used for federal reporting. |
| 1011090 | 3rd Party Contract Clearing | |
| 1011095 | 3rd Party Contract Receivable | Student tuition and fees receivable are converted to this account when a 3rd party contract is established to pay the student’s account balances. |
| 1011100 | SF Payment Plan Receivable | Student tuition and fees receivables are converted to this account when a student establishes a college administered payment plan. |
| 1011105 | SF Payment Plan Clearing | |
| 1011110 | Student Loans Receivable Short-Term | The balance of this account represents the uncollected portion of loans receivable. Loans are defined as amounts that have been loaned to individuals external to the college. |
| 1011120 | Student R2T4 Loan Receivable | This account is used to record the amount owed by students for a return to Title IV (both outstanding tuition/fee amounts and student refund amounts owed). |
| 1011199 | Student Accounts Receivable Error | This accounts is used only in Student Finance Write Off Uncollectable Debt item types. The account is recorded if this item type is applied an eligible receivable does not exist on the student account. |
1020000 – Short-Term Investments Budgetary
| Account | Account Type | Description |
|---|---|---|
| 1020010 | Non-LGIP Investments (90-365 Days) | This account is used to record the portion of long-term investments that will mature within one year of the financial statement date (fiscal year end). |
| 1020020 | Unamortized Premiums on Investments | This account is used to record that portion of the excess of the amount paid for securities over their face value which has not yet been amortized. |
| 1020030 | Unamortized Discounts on Investments | This account is used to record that portion of the excess of the face value of securities over the amount paid for them which has not yet been amortized. |
1030000 – Inventories Budgetary
| Account | Account Type | Description |
|---|---|---|
| 1030010 | Consumable Inventories | The balance of this account represents the cost of inventories for consumable materials, supplies, and foodstuffs on hand at an inventory control point at the close of business on June 30th, only when those balances exceed $50,000. |
| 1030020 | Merchandise Inventories | This account should be used to record the cost of goods held for resale rather than for use in operations, which are on hand at the close of business on June 30th. This account must only be used with account 5030120 – Net Cost of Goods Sold. Used for Proprietary funds only. |
| 1030030 | Raw Materials Inventories | The balance of this account represents the value of items of tangible personal property that are to be currently consumed either directly or indirectly in the production of goods or services to be available for sale. Used for Proprietary funds only. |
| 1030040 | Work in Progress Inventories | The balance of this account represents the value of items of tangible personal property that are in process of production for sale in the ordinary course of business. Used for Proprietary funds only. |
1040000 – Prepaid Expenses Budgetary
1040010 - Prepaid Expenses
The balance of this account represents the amount of disbursements made for benefits not yet received. Prepaid expenses differ from deferred charges in that prepaid expenses are spread over a shorter period of time and are regular recurring costs of operations. Note: This ledger is allowed in 4xx and 5xx funds only.
1000003 – Long-Term Receivables Budgetary
Long-Term Receivables are those not due within 12 months.
1000004 – Non-Student Receivables Long-Term Budgetary
Sub-Class: 1100000-1100999 - Non-Student Receivables Long-Term
| Account | Account Type | Description |
|---|---|---|
| 1100010 | Other Receivables – Long-Term | The balance of this account represents long-term other receivables billed or supported by other evidences of indebtedness. Any uncollectible accounts will be written off by using account 1100020. |
| 1100020 | Allowance for Uncollectible Other Receivables – Long-Term | The balance of this account represents the portion of long-term other receivables which is estimated will never be collected. See account 1100010. |
| 1100030 | Due from Other Funds Internal – Long-Term | The balance of this account represents long-term amounts due from other funds within an agency. This account is to be accompanied by a valid fund code in the subsidiary chartfield. Within a college, all accounts 1100030 and 2130030 must equal. |
| 1100040 | Lease Receivable Long-Term | The balance of this account represents the long-term portion of amounts owed to the college for a right to use lease. Any uncollectible accounts should be written off using 1100050 – Allow-Uncollectible Lease Receivable Long-Term. |
| 1100050 | Allow-Uncollectible Lease Receivable Long-Term | The balance of this account represents the long-term portion of leases receivable estimated to be uncollected. |
1101004 – Student Long-Term Receivables Budgetary
| Account | Account Type | Description |
|---|---|---|
| 1101010 | Student Loans Receivable – Long-Term (Such as Perkins Loan) | The balance of this account represents the long-term portion of loans receivable. Loans are defined as amounts that have been loaned to individuals or organizations external to the state. Any uncollectible accounts will be written off by using GL 1644. |
| 1101020 | Allowance for Uncollectible Loans Receivable – Long-Term | The balance of this account represents the portion of long-term loans receivable that is estimated will never be collected. See 1101010. |
1110003 – Long-Term Investments Budgetary
| Account | Account Type | Description |
|---|---|---|
| 1110010 | Non-LGIP Invest 365+ Days | This account is used to record the face value of long-term investment securities Investment securities are bonds and shares that have been acquired for investment purposes. The intent is to profit from the interest and dividend payments that these investments pay out from time to time. |
| 1110015 | Restricted Cash and Investments - Noncurrent | This account code is used to record cash and investments held by escrow agents and trustees that are restricted and will not be used in current operations. Examples include amounts held pursuant to an advance refunding agreement; amounts restricted by debt covenant for the acquisition or construction of noncurrent assets; or amounts held in trust pursuant to a third party agreement that will not be used in current operations. |
| 1110020 | Valuation Allowance - Investments | This GL code is used to record fair value changes (increases and decreases) relating to long-term investments. |
| 1110030 | Amount Available in Debt Service Funds | The balance of this account represents the balance available in debt service funds for the retirement of general long-term obligations. The liability balance is recorded in the General Long-Term Obligations Subsidiary Account (Fund 999). |
| 1110040 | Amount to be Provided for Retirement of Long-Term Obligations | The balance of this account represents the amount to be provided from general revenues to retire outstanding general long-term obligations. General ledger liability credits are offset with a debit to 1110040 within the General Long-Term Obligations Subsidiary Account (Fund 999). |
| 1110060 | Unamortized Discounts on Certificates of Participation | The balance of this GL code represents the original issue discount (OID) on the sale of certificates of participation (COP) that remains to be amortized over the remaining life of the COP. This GL code is used when OID is material in proprietary and trust funds as well as for government-wide reporting (which use the economic resources measurement focus and accrual basis of accounting). Governmental funds (which use the modified accrual basis of accounting and current financial resources measurement focus) record OID to Account 4040100 - Original Issue Discount - COPs. |
Capital assets used in activities of enterprise, internal service, and private purpose trust funds are accounted for in the funds themselves. Capital assets of general, special revenue, and capital projects are accounted for in the General Capital Assets Subsidiary Account (Fund 997). Capital Assets are NEVER recorded in governmental or fiduciary funds.
1120003 – Capital Assets Budgetary
1120004 Non-Depreciable Capital Assets Budgetary
| Account | Account Type | Description |
|---|---|---|
| 1120010 | Land | The balance of this account represents the original cost or estimated value at time of donation, of land owned by the state. Land also includes land use rights with indefinite useful lives, such as easements, mineral, timber, and water rights, acquired with the purchase of the underlying land. Land is never depreciated. |
| 1120020 | Construction in Progress | The balance of this account represents the cost of construction work undertaken but not yet completed. |
| 1120030 | Intangible Assets (non-land use) with Indefinite Useful Lives | The balance of this account represents the cost of purchased or constructed intangible assets for which there are no factors that limit the useful life of the asset. For example, a permanent easement for water rights not acquired with a land purchase. |
| 1120040 | Non-Depreciable Collections | This account represents the cost of individual works of art or a group of original art works, documents and books with historical or literary significance, and artifacts. The items in this category have useful lives that are not diminished over time and meet the criteria for a non-capitalizable collection, but are capitalized at the discretion of the agency. |
| 1120080 | Allowance for Amortization – Leased Furnishings and Equipment | This account represents accumulated credits made to reflect the decrease in the useful life of the right to use the underlying asset over the lease term. |
1121004 – Depreciable Capital Assets Budgetary
| Account | Account Type | Description |
|---|---|---|
| 1121010 | Depreciable Infrastructure | The balance of this account represents the cost of permanent improvements other than buildings that add value to the college. This would include assets like streets, sewer lines, water mains and electrical and lighting systems. |
| 1121020 | Allowance for Depreciation – Infrastructure | The balance of this account represents accumulated credits made to reflect the expiration of the estimated service life of infrastructure. |
| 1121030 | Buildings | The balance of this account represents the cost of permanent buildings and any material ($100,000 or more) capital improvements to such buildings. It does not include furniture, fixtures, or other equipment not an integral part of the building. |
| 1121040 | Allowance for Depreciation – Building | The balance of this account represents accumulated credits made to reflect the expiration of the estimated service life of improvements of building. |
| 1121050 | Improvements Other Than Buildings | The balance of this account represents the cost of permanent improvements other than buildings that add value to the college. Examples of such improvements are fences, retaining walls, sidewalks, gutters, tunnels and bridges. |
| 1121060 | Allowance for Depreciation – Improvements Other Than Buildings | The balance of this account represents accumulated credits made to reflect the expiration of the estimated service life of improvements other than buildings. |
| 1121070 | Furnishings and Equipment | The balance of this account represents the acquisition cost of furnishings or equipment with a life of more than one year (other than land, buildings, improvements other than buildings and library resources.) Each item must have a value equal or greater than $5,000. |
| 1121080 | Allowance for Depreciation – Furnishings and Equipment | The balance of this account represents accumulated credits made to reflect the expiration of the estimated service life of furnishings and equipment. |
| 1121090 | Library Resources | This account represents the cost of items that are loaned out, such as books, periodicals, and microfilm, that become unusable or dated and will require replacement. There are items whose useful lives are diminished by display, educational or research applications, or use. (It generally does not include library reserve collections, which are considered inexhaustible in that their value does not diminish over time and are therefore not depreciated.) |
| 1121100 | Allowance for Depreciation - Library Resources | The balance of this account represents accumulated credits made to reflect the expiration of the estimated service life of library resources. |
| 1121110 | Intangible Assets with Definite Useful Lives | This account represents the costs of purchased or internally developed intangible assets such as software for which there are factors that limit the useful life of the asset. Factors that could limit the useful life of an intangible asset include legal, contractual, regulatory, technological, or impairment of use. |
| 1121120 | Allowance for Amortization - Intangible Assets | The balance of this account represents accumulated credits made to reflect the expiration of the estimated service life of intangible assets. |
| 1121130 | Leasehold Improvements | This account represents the costs of purchased or internally developed intangible assets such as software for which there are factors that limit the useful life of the asset. Factors that could limit the useful life of an intangible asset include legal, contractual, regulatory, technological, or impairment of use. |
| 1121140 | Allowance for Depreciation - Leasehold Improvements | The balance of this account represents accumulated credits made to reflect the expiration of the estimated service life of intangible assets. |
1122003 – Leased Capital Assets Budgetary
| Account | Account Type | Description |
|---|---|---|
| 1122010 | Leased Asset - Land | The balance of this account represents the present value of the minimum payments expected to be made, at agreement inception, for the state’s right to use another entity’s land. |
| 1122020 | Allowance for Amortization - Leased Land | The balance of this account represents accumulated credits made to reflect the decrease in the useful life of the right to use the underlying asset over the lease term. |
| 1122030 | Leased Asset - Buildings | The balance of this account represents the present value of the minimum payments expected to be made, at agreement inception, for the state’s right to use another entity’s building or structure. |
| 1120040 | Allowance for Amortization – Leased Building | This account represents accumulated credits made to reflect the decrease in the useful life of the right to use the underlying asset over the lease term. |
| 1122070 | Leased Asset - Furnishings and Equip | The balance of this account represents the present value of the minimum payments expected to be made, at agreement inception, for the state’s right to use another entity’s building or structure. |
| 112210 | Subscription Information Technology (SBITA) Asset | The balance of this Account represents the present value of the minimum payments expected to be made, at agreement inception, for the state’s right to use another entity’s information technology equipment through a subscription based arrangement. |
| 1122110 | Allowance for Amort – SBITA | The balance of this account represents accumulated credits made to reflect the decrease in the useful life of the right to use the underlying information technology equipment over the subscription term. |
1200002 – Deferred Outflows of Resources Budgetary
1200010 – Deferred Outflows on Certificate of Participation (COP) Refundings
Account is used to record the remaining difference (debit balance) between the proceeds of the refunding (new) COP and the net carrying value of the refunded (old) COP. The deferred charge is amortized using account 5070030 - Amortization Premiums/Discounts in proprietary funds (Funds 4xx and 5xx) and 5070080 - Govt - Amortization Expense in the General Long-Term Obligations Subsidiary Account (Fund 999) for governmental funds.
7007140 – Journal Vouchers In-Process
Legacy general ledger accounts, 7110, 7120, and 7140 are all converted to 1000070 – Cash in Bank.
