FAR 9

Question 1

How receiving appropriations (contribution) from state government to state university reported on Cashflow statement?

Answer 1

reported as nonoperating revenues because it’s non exchanged transaction.

Question 2

Best County’s capital projects fund had the following receipts during the year:
Transfer from the general fund $100,000
Federal capital grant $ 75,000
Special assessment for capital improvements $300,000
What amount of revenues should Best County report in its capital projects fund at the
end of the year?

Answer 2

The capital projects fund would report $375,000 in revenues
computed as follows:
Federal capital grant $ 75,000
Special assessment for capital improvements 300,000
Total revenues $375,000
The transfer from the general fund of $100,000 would be reported as “other financing
sources” rather than as revenue.

Question 3

what is included in a general fund’s encumbrance account?

Answer 3

The amounts in a general fund’s encumbrance account include only outstanding purchase order amounts.

Question 4

When Budgetary control account increased?

Answer 4

When a purchase order is approved, the budgetary control account of a governmental fund is increased.