N.Y. Comp. Codes R. & Regs. tit. 16, § 565.2 – Income from sinking and other funds. | Midpage
§ 565.2
N.Y. Comp. Codes R. & Regs. tit. 16, § 565.2
Income from sinking and other funds.
Department of Public Service
(a) Interest and other revenues derived from funds carried in account 125, Sinking Funds, and account 128, Other Special Funds, shall be credited to account 419, Interest and Dividend Income.
(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 436, Appropriations of Retained Earnings.