Loans - Unearned Income
Loans from private individuals and commercial institutions are not countable. Loans are not required to be legally binding agreements. (See
Loan Verification for verification requirements)
NOTE For educational loans, see
Educational Income.
For
restricted loans(g), key the LO RU Unearned Income Code in the INC TYP field on UNIC.
For
unrestricted loans(g), key the LO UN Unearned Income Code in the INC TYP field on UNIC.
Treat loan payments received by the budgetary unit to pay off a previous loan provided by the budgetary unit as a resource in the month received. (See
Loan - LIAS)
NOTE For treatment of interest payments received on loans, see
Interest Payments.