Governmental shit I keep forgeting

Question 1

Recording a Budget

Answer 1

Dr. Estimated Revenues
Cr. Appropriations

then debit for credit budgetary control

Question 2

Lease entry for government funds when it leases equipment and ownership is being transferred

Answer 2

Dr. Capital outlay expenditures

Cr. Other financing sources

Question 3

If city leases and there is no transfer of ownership

Answer 3

Dr. Lease receivable

Cr. Deferred inflows

Question 4

Nonspendable fund balance

Answer 4

Shit like prepaid expenditures or inventory that are not in the form to be spendable

Question 5

Restricted fund balance

Answer 5

Assets restricted by external authorities like legislation, creditors, and grantors

Question 6

Committed fund balance

Answer 6

Assets obligated by formal action of the highest level of authority like resolutions of city council or some shit like that

Question 7

Assigned fund balance

Answer 7

Not formally obligated like committed fund balance

Question 8

Reciprocal activity

Answer 8

Interfund loans or interfund service provided

Question 9

Encumbrance entries

Answer 9

To record order
Dr. Encumbrance control
Cr. Budgetary control
Reverse when order comes in

To record actual expenditure
Dr. Expenditures
Cr. Vouchers payable

Question 10

Other financial uses and sources

Answer 10

Transfers received are sources, transfers you give are uses

Question 11

CAFR Sections

Answer 11

1. Introductory
2. Basic Financial Statements & Required Supplementary Information
3. Statistical Section

Question 12

CAFR - Intro

Answer 12

1. Letter of Transmittal
2. Organizational Chart
3. List of Principal Officers

Question 13

CAFR - Basic Financial Statements & Supp Info

Answer 13

1. Management Discussion & Analysis
2. Government-wide Financial Statements
3. Fund financial Statements
4. Notes
5. Required Supplementary info

Audited

Question 14

CAFR - Statistical

Answer 14

• 10 years of select financial data
• 10 years of economic data
• other

Unaudited

Question 15

Government wide financial statements: Program revenues

Answer 15

1. Charges for services
2. Operating grants & contributions
3. Capital grants & contributions

Question 16

Government wide financial statements

Answer 16

• Statement of net position

- Statement of activities

Question 17

Government wide financial statements - Statement of Net position

Answer 17

Assets & deferred outflows or resources minus liabilities & deferred inflows of resources

Question 18

General revenues for government wide financial statements

Answer 18

Include taxes, interest earnings, and other revenues that are not specifically associated with a functional expense

Question 19

Noncapital financing activities

Answer 19

• Cash flows from issuing debt for noncapital purposes including interest expense
• Cash receipts from grants and subsidies
• Cash received from property tax that is not restricted
• Operating transfers

Question 20

Operating activities

Answer 20

1. Inflows from sales of goods and services
2. outflows to suppliers or employees
3. inflows from interfund reimbursements and exchanges including payments in lieu of taxes

Question 21

Investing activities

Answer 21

1. Inflows and outflows associated with loans to others including interest income
2. Inflows and outflows associated with equity transactions

Question 22

Capital Financing activities

Answer 22

1. cash flows from issuing debt associated with capital assets
2. inflows from capital grants
3. inflows from contribution activity associated with capital activity
4. special assessments associated with capital assets