9 solutions contd 9 8 some of the modifications or

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Unformatted text preview: penditures in the statement title. • An analysis should be done of the Other Governmental Funds column to determine whether any of the three funds included in the column meet the definition of a major fund. If so, the fund should be shown in a separate column to the right of the General Fund. • A Total Governmental Funds column should be provided to the right of the Other Governmental Funds column. • Debt proceeds is not a revenue. It should be shown in a separate section titled Other Financing Sources (Uses). This section appears after expenditures. • Transfers out is not an expenditure. It should be shown in a separate section titled Other Financing Sources (Uses). This section appears after expenditures. • Debt service should be shown separately from the General Government function. Further, debt service should show the expenditures for principal and the expenditures for interest. Generally, information on debt service is shown after the functional expenditures. • Capital outlay should be shown separately from the...
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This note was uploaded on 05/20/2010 for the course ACCOUNTING 580 taught by Professor Waymire during the Spring '10 term at Northern Virginia.

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