This preview shows page 1. Sign up to view the full content.
Unformatted text preview: local and state, that everyone pays . 4) Expenditures will vary depending on the size and what division to the government financials one is looking at. Most classifications would come from public safety (law enforcement and transportation), sanitation, and related governmental programs. 5) The assets that are reported under General Fund show the current financial resources available. These assets would include investments, receivables, amounts due from funds, prepaid expense, inventory, and cash . 6) Government financial statements, I think, age the payables and receivables and use the sixty days aged report of activity on these accounts. They can also use the thirty and one hundred twenty days time frame. It is just a preference and the accountants or government officials decided which method to use. 7) The government is spending more than it takes in so, the General Fund is decreasing....
View Full Document
- Spring '11