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A8 Twatt - Chapter9 Tiffany Watt Assignment:A8 March30,2011...

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Chapter 9 Tiffany  Watt Assignment: A8   March 30, 2011              AC 325 –  E01   Questions 9-1a. According to chapter 2, the necessity to report on fiscal accountability creates a need for governments to account for restricted-use revenues and expenditures made from such revenues separately from unrestricted revenues and expenditures. The fund is the mechanism that has developed for segregating accountability for the inflows and outflows of restricted-use financial resources. b. General Fund – Most departmental operating activities, such as those of police and fire, public works, parks and recreation, culture, education, and social services, as well as general government support services, such as the city manager’s office, finance, personnel, and data processing, are typically accounted for in the General Fund. Special Revenue Fund – Tax or grant revenues or private gifts that are legally restricted for
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