This account represents the portion of long-term debts or obligations that will be payable in more than one year subsequent to the balance sheet date. Direct borrowings have terms negotiated directly with a lender and are not offered for public sale. Bank loans and Guaranteed Energy Savings contracts should be classified as notes from direct borrowings. For proprietary funds, this is a noncurrent liability with its own caption on the ACFR 11P. For governmental funds, this is in General Long Term Debt, GASB 5200 in the ACFR 11G.