Section Rev 2006.02 - Liabilities Probable future sacrifices of economic benefits arising from present obligations of a village district to transfer assets or provide services to other entities in the future as a result of past transactions or events shall be classified into the following accounts:
(a) Account 2020, warrants and accounts payable, classification shall be for balances owed to others for: (3) Services purchased on open accounts;(b) Account 2030, compensated absences payable, classification shall be for balances arising through accounting recognition of unpaid costs that come into existence in the current period which will be discharged at a future time, such as, but not limited to earned time for: (c) Account 2050, contracts payable, classification shall be for amounts due on contracts for goods and services, including retainage, furnished to a government;(d) Account 2070, due to other governments, classification shall be for amounts owed by the village district to another government, such as: (2) Loans and intergovernmental grants;(5) Payments in lieu of taxes;(e) Account 2080, due to other funds, classification shall be for amounts owed by one village district fund to another village district fund representing charges for: (1) Goods and services; and(2) Interfund advances from another fund;(f) Account 2230, notes payable-current, classification shall be for the face value of notes generally due within one year, including all: (1) Tax anticipation notes payable; and(2) Revenue anticipation notes payable;(g) Account 2250, bonds payable-current, classification shall be for the face value of bonds due within one year;(h) Account 2260, capital leases payable-current, classification shall be for the current portion of the discounted present value of total future stipulated payments in any lease purchase agreement;(i) Account 2270, other payables, classification shall be for liabilities, requiring the sacrifice of economic benefits within one accounting cycle, not included elsewhere;(j) Account 2310, notes and bonds payable long-term, classification shall be for amounts owed by the village district on notes and bonds not due within one year;(k) Account 2370, capital leases payable, classification shall be for the non-current portion of the discounted present value of total future stipulated payments in any lease purchase agreement; and(l) Account 2390, other long-term liabilities, classification shall be for liabilities requiring the sacrifice of economic benefits at some future time beyond the next accounting cycle.N.H. Admin. Code § Rev 2006.02
#5454, eff 8-28-92; ss by #6809, eff 7-21-98; ss by #8686, eff 7-21-06; ss by #10675, eff 9-24-14 (from Rev 2007.02 )
Amended byVolume XXXIV Number 41, Filed October 9, 2014, Proposed by #10675, Effective 9/24/2014, Expires9/24/2024.