Classification Manual - Chart 9-A: Examples of Liabilities Included and Excluded from Census Bureau Definition of Public Debt

Federal, State, and Local Governments
Government Finance and Employment Classification Manual
Chart 9-A - Examples of Liabilities Included and Excluded from Census Bureau Definition of Public Debt

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Classification Manual

Revenue

Expenditure

This chart is by no means an exhaustive list of all possible liabilities that governments incur; rather, it shows the most common types of debt found in annual finance reports.

Examples of Liabilities Included in Census Bureau Public Debt	Examples of Liabilities Excluded from Census Bureau Public Debt
Bank lines of credit	Accounts payable
Bank loans	Accrued expenses
Bond anticipation notes	Accrued interest payable
Certificates of obligation	Accrued vacation or sick leave
Certificated of participation(COPs)	Actuarial deficits (unfunded liabilities) of pension funds
Claims and judgements
Construction loan notes (CLNs)	Amounts owed in an agency or trust capacity
"Deep-discount" debt, such as: Compound interest bonds (CIBs) Zero-coupon bonds	Bank overdrafts or temporary fund deficits
Demand bonds	Compensated absences
General obligation bonds (GOBs)	Contingent loans and advances
General obligation self-supporting bonds	Defeased debt (from advance refunding operations)
General obligation tax increment bonds	Deferred compensation payable
Grant anticipation notes	Deferred income or revenue
Industrial revenue bonds	Installment purchase agreements or contracts
Lease revenue bonds
Lease-rental bonds	Interfund loans and advances ("due to other funds")
Limited tax bonds
Mortgage notes	Leases (operating or capital)
Noninterest-bearing long-term warrants and obligations with debt instruments	Long-term contracts payable
Notes payable	Noninterest-bearing short-term warrants and obligations
Pollution control bonds	Purchase contracts
Revenue anticipation notes	Refundable deposits
Serial bonds	Reverse repurchase agreements
Special assessment bonds	Rights of persons to benefits from public employee retirement or other insurance trust systems
Special obligation bonds
Special revenue bonds
Tax anticipation notes	Salaries payable
Taxable public debt	Severance payable
Term bonds	Vouchers payable