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
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

Source: U.S. Census Bureau, Governments Division
Created: November 16 2000
Last revised: October 31 2011