N.Y. Comp. Codes R. & Regs. tit. 16 § 465.3

Current through Register Vol. 46, No. 45, November 2, 2024

Section 465.3 - Income from sinking and other funds

(a) Interest and other revenues derived from funds carried in account 113, sinking funds and account 114, miscellaneous special funds, shall be credited to account 525, Revenues From Sinking and Other Funds.

(b) When the income is required by a mortgage or other provisions to be held in the fund from which the income arises, an amount equal to the income shall be added to the fund to which it is applicable.

(c) When income derived from sinking funds and other special funds is required to be retained in the fund and the fund is represented by a reserve, the amount of such income accretions to the fund shall be credited to the appropriate reserve account and charged to account 540, Miscellaneous Reservations of Net Income, or account 413, Miscellaneous Reservations of Surplus, as appropriate.

N.Y. Comp. Codes R. & Regs. Tit. 16 § 465.3