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Unformatted text preview: In practice, some governmental entities include capital outlays in the general fund as an expenditure under the appropriate functional activity. However, in a capital projects fund, capital outlays are generally separately reported in the expenditures reported on the statement of revenues, expenditures, and changes in fund balances. g. 7 $150,000 = the amount of the state grant. The bond proceeds would be reported as an other financing source. h. 13 $500,000 = the amount of the expenditures in the capital projects fund i. 11 $345,000 = Fund Balance-Unreserved on 1/1/X1 $ 110,000 Add: Grant revenues $150,000 Other financing sources 610,000 760,000 Less: Expenditures $500,000 Fund balance – reserved for encumbrances 25,000 (525,000) Fund Balance – Unreserved on 12/31/X1 $345,000...
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This note was uploaded on 10/09/2011 for the course ACC 253 taught by Professor Strimling during the Fall '11 term at Harper.
- Fall '11