N.Y. Comp. Codes R. & Regs. tit. 9, § 1643-2.3 – Temporary financing: funds borrowed from the State.

(a) The resolution authorizing the contracting of indebtedness also authorizes designated officers of the local agency to execute and issue certificates of indebtedness for advances made by the State, as required. Only one entry is required to reflect the issue of certificates of indebtedness for advances made by the State out of the proceeds of short term borrowing by the State.
(b) The entry is made through the cash receipts register upon receipt of the advance from the State, as follows:
Entry (2):
Debit: Account 1111, Development Fund $XXX
Credit: Account 2312, Certificates of Indebtedness Unissued $XXX
Note:
The certificates of indebtedness issued and outstanding will appear on financial statements as the difference between the credit balance of account 2311, Certificates of Indebtedness Authorized, and the debit balance of account 2312, Certificates of Indebtedness Unissued.