INTEREST ON LOANS - 8290.3-APR-2016

(Revised: 04/2016)

(Deleted 10/2020 and content added to 8217)

Interest earned as of June 30 on loans to other funds and other governmental entities will be recorded in accounts receivable and will be accrued as of that date. For interfund loans, the department recording the interest revenue will inform the borrowing department of the amount it is to accrue as an expense of the fiscal year just ended.