B5 Flashcards
1
Q
A
2
Q
Reconciling Govt Fund to Govt Wide Funds
Capital Outlays
Debt Service - Principal payments
Interest Expense
Interest Payment accrued, but not paid
Loan Proceeds
Accrued Revenue
Depreciation Expense
A
Reconciling Govt Fund to Govt Wide Funds
Capital Outlays - Added back
Debt Service - Principal payments - Added back
**Interest Expense - Not adjusted
**Interest Payment accrued, but not paid - Subtracted
Loan Proceeds - Subtracted
Accrued Revenue - Added Back
Depreciation Expense - Subtracted
3
Q
A
4
Q
A
5
Q
What are the classifications for classifying a fund as a Major Fund?
A
10% of all the revenue from its fund category (Gov’t / Enterprise) and 5% of total revenues across all relevant funds)
6
Q
A
