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! <br /> I <br /> DEBT SERVICE - APPROPRIATION <br /> i <br /> The landfill transfer station, article was funded frcan bop- <br /> rowing. This article also included an additional appropriation <br /> i <br /> for interest due on the debt totaling $38, 323. <br /> ! <br /> Governmental Accounting Standards Board (GSAB) publishes a i <br /> I <br /> Codification of Governmental Accounting and Financial Reporting <br /> Standards which recommends expenditures be classified by func- <br /> tions fora rams) as discussed in Section 1800 <br /> pr g , paragraphs 315- <br /> 120. Current debt service should be reported as principal and <br /> interest and root included in the appropriation, that is being <br /> i <br /> funded by the debt. <br /> j <br /> I <br /> RECOMMENDATION % <br /> ' I <br /> We recommend the Town appropriate and record debt and inter- <br /> ' <br /> est appropriations in a debt service category and riot within, the j <br /> article that is authorized to spend the proceeds of the debt <br /> issue. <br /> ! r. <br /> ! I <br /> I <br /> t <br /> I <br /> ! <br /> f <br /> ii <br /> I <br /> ! <br /> 3 <br />