Module 6 Flashcards
1
Q
Capital Projects Fund
A
Purchasing Department (used by governmental funds (GRaSPP) only, not by proprietary or fiduciary fund convention center, municipal stadium, county courthouse, construction fund
2
Q
Capital Grants
A
may be restricted and are reported as revenue when earned. Or may be unrestricted and recognized immediately.
3
Q
Unrestricted
A
Revenue Now
4
Q
Restrocted
A
Deferred
5
Q
Special Assessments
A
Owners who will directly benefit from the project
6
Q
Not Primarily or Potentially Liable
A
should be reported in a custodial fund
should be excluded from government-wide presentations
7
Q
Bond Issue Proceeds
A
Other financing sources- income statement
no amortization of premiums and discounts
8
Q
Two GRaSPPP funds do not record encumbrances
A
Debt Service Fund
Permanent Fund
9
Q
Special Revenue Fund
A
Principal and Interest
10
Q
Permanent Fund
A
Interest Only
