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Welcome to CTAS�Indebtedness

With David Frame

MAT Trainer

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Small City and Town Accounting System

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Indebtedness

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Minnesota Statute 475 Municipal Debt

Towns are authorized to incur debt.

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Indebtedness

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First, Fund Numbers for debt,

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Then the CTAS entries for debt.

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Special Fund Numbers

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Townships will borrow/bond to acquire funds to do a significant project like a road rebuild.

This money is often put into an ‘investment’ until it is needed to pay for the construction costs.

A separate fund and fund number is recommended for the proceeds of the bond.

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The second part of this work is now to pay back the bonds or the debt.

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Special Fund Numbers

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There are special fund numbers for both the receiving of the proceeds of the bonds and for the recording the bond and payments on the bonds.

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Special Fund Numbers

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Create a fund with a Debt Service fund number…such as 302.

Into that fund place money levied to pay off the bond, assessments collected to pay off the bond, and transfer any money left in the related 4xx fund set up to receive the bond proceeds and pay for the construction.

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Use this fund to make the payments on the bonds.

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Indebtedness

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Indebtedness Add New Debt

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Indebtedness Add New Debt

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Indebtedness Add New Debt

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Indebtedness Add New Debt

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Indebtedness Payment

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Indebtedness Payment in Debt module

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Indebtedness Payment in Claims

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Indebtedness Payment in Claims

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Indebtedness Payment in Claims

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Indebtedness Payment in Claims

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Indebtedness Payment in Claims

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Indebtedness Payment in Claims

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Indebtedness Payment in Claims

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Indebtedness Payment in Claims

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Indebtedness Payment in Claims

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Indebtedness Payment in Claims

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Indebtedness Reports

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Indebtedness Reports

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Indebtedness Reports

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Indebtedness Reports

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Indebtedness

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Q & A

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CTAS

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Q & A

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Contact info:�dframe@mntownships.org 763.488.4050�or �MAT Office 763.497.2330

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David Frame

MAT Trainer

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Small City and Town Accounting System

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Thank You� for taking the time to attend

CTAS - Small City and Town Accounting System

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Small City and Town Accounting System

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Select Claims to Print

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