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Current Fund 1 > Current Fund 1 and 2 > Flashcards

Current Fund 1 and 2 Flashcards

1
Q

Appropriation Reserves

Operations

A

To lapse unspent prior year appropriation reserves.

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2
Q

To lapse unspent prior year appropriation reserves.

A

Appropriation Reserves

Operations

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3
Q

Revenues

Operations

A

To close revenue accounts to operations.

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4
Q

To close revenue accounts to operations.

A

Revenues

Operations

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5
Q

Operations

Fund Balance

A

To close operations to fund balance.

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6
Q

To close operations to fund balance.

A

Operations

Fund Balance

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7
Q

Current Year Appropriations

Appropriation Reserves

A

To set up year end appropriations.

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8
Q

To set up year end appropriations.

A

Current Year Appropriations

Appropriation Reserves

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9
Q

Reserve for Prior Year Taxes Receivable

Receipts for Delinquent Taxes

A

To realize delinquent tax revenue.

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10
Q

To realize delinquent tax revenue.

A

Reserve for Prior Year Taxes Receivable

Receipts for Delinquent Taxes

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11
Q

Tax Over-payments

Prior Year Taxes Receivable

A

To apply over-payments per resolution.

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12
Q

To apply over-payments per resolution.

A

Tax Over-payments

Prior Year Taxes Receivable

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13
Q

Reserve for Prior Year Taxes Receivable
Reserve for Tax Title Liens
Receipts from Delinquent Taxes

A

To realize delinquent tax revenue.

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14
Q

To realize delinquent tax revenue.

A

Reserve for Prior Year Taxes Receivable
Reserve for Tax Title Liens
Receipts from Delinquent Taxes

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15
Q

Grant Appropriation

Due to/from Grant Fund

A

To charge off grant in the current fund and transfer to grant fund.

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16
Q

To charge off grant in the current fund and transfer to grant fund.

A

Grant Appropriation

Due to/from Grant Fund

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17
Q

Due to/from Current Fund

Grant Appropriated Reserve

A

To setup appropriated reserve for grant charged off in current fund.

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18
Q

To setup appropriated reserve for grant charged off in current fund.

A

Due to/from Current Fund

Grant Appropriated Reserve

19
Q

Due to/from Grant Fund

Grant Revenue Anticipated

A

To realize the grant in the current fund and transfer receivable to Grant Fund.

20
Q

To realize the grant in the current fund and transfer receivable to Grant Fund.

A

Due to/from Grant Fund
Grant Revenue Anticipated
`

21
Q

Grant Receivable

Due to/from Current Fund

A

To setup receivable for grant realized in current fund.

22
Q

To setup receivable for grant realized in current fund.

A

Grant Receivable

Due to/from Current Fund

23
Q

Reserve for Prior Year Taxes (1)
Reserve for Prior Year Taxes (2)
Receipts from Delinquent Taxes

A

To realize delinquent tax revenue and adjust reserves.

24
Q

To realize delinquent tax revenue and adjust reserves.

A

Reserve for Prior Year Taxes (1)
Reserve for Prior Year Taxes (2)
Receipts from Delinquent Taxes

25
Q

Grant- Revenue

Grant- Appropriation

A

To record Chapter 159 budget amendment.

26
Q

To record Chapter 159 budget amendment.

A

Grant- Revenue

Grant- Appropriation

27
Q

Grant- Unappropriated

Grant- Receivable

A

To apply unappropriated reserve against grant receivable.

28
Q

To apply unappropriated reserve against grant receivable.

A

Grant- Unappropriated

Grant- Receivable

29
Q

Budget Operations

Reserve due to/from Grant Fund

A

To record interfund advanced to grant fund.

30
Q

To record interfund advanced to grant fund.

A

Budget Operations

Reserve due to/from Grant Fund

31
Q

Deferred Charge- Cash Deficit

Operations

A

To close budget operations to fund balance.

32
Q

To close budget operations to fund balance.

A

Deferred Charge- Cash Deficit

Operations

33
Q

Reserve for Uncollected Taxes

Amount to be Raised by Taxation

A

To charge off reserve for uncollected taxes.

34
Q

To charge off reserve for uncollected taxes.

A

Reserve for Uncollected Taxes

Amount to be Raised by Taxation

35
Q

Current Year Taxes Receivable

Reserve for Current Year Taxes Receivable

A

To setup current year tax levy.

36
Q

To setup current year tax levy.

A

Current Year Taxes Receivable

Reserve for Current Year Taxes Receivable

37
Q

Amount to be Raised by Taxation
County Taxes Payable
Local School Taxes Payable

A

To setup county and school taxes levy.

38
Q

To setup county and school taxes levy.

A

Amount to be Raised by Taxation
County Taxes Payable
Local School Taxes Payable

39
Q

Prepaid Taxes

Current Year Taxes Receivable

A

To apply prepaid taxes to current year taxes receivable.

40
Q

To apply prepaid taxes to current year taxes receivable.

A

Prepaid Taxes

Current Year Taxes Receivable

41
Q

Reserve for Current Year Taxes Receivable

Amount to be Raised by Taxation

A

To realize current year tax revenue.

42
Q

To realize current year tax revenue.

A

Reserve for Current Year Taxes Receivable

Amount to be Raised by Taxation

43
Q

Reserve for Prior Year Taxes Receivable

Receipts from Delinquent Taxes

A

To realize prior tax revenue.

44
Q

To realize prior tax revenue.

A

Reserve for Prior Year Taxes Receivable

Receipts from Delinquent Taxes

Current Fund 1 (2 decks)

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