Does the report state the basis of accounting used for the General Fund? No What types of assets are included on the governmental funds balance sheet? Cash and cash equivalents, fund investments, investments with trustees, receivables, due from other funds, advances to other funds, land held for development, inventories, prepaid items Do current and noncurrent assets appear on the balance sheet? Yes Do current and noncurrent liabilities appear on the balance sheet? Yes Is this reporting consistent with the basis of accounting being followed? Yes 2-1c. List the names of governmental funds other than the General Fund that are included as major funds in the fund financial statements. Community
Chapter 2 Tiffany Watt Assignment: A2.2 February 2, 2011 AC 325 – E01 Planning and Economic Development, Convention Center, Permanent Improvement Identify which of the major funds, if applicable, are special revenue funds, debt service funds, capital projects funds, and permanent funds. The Community Planning and Economic Development fund and Convention Center fund are special revenue funds. Permanent Improvement is a capital projects fund. 2-1d. List the names of the proprietary fund types included in the financial statements. Sanitary sewer, Stormwater, Water Works, Municipal Parking, Solid waste and Recycling, Community Planning and Economic Development Do the financial statements provide evidence that all proprietary funds use full accrual accounting? No 2-1e. List the names of the fiduciary funds included in the fund financial statements. Cash and cash equivalents, receivables, accounts payable, deposits held for others Identify whether each of these is an agency fund, investment trust fund, pension trust fund, or private-purpose trust fund. These are all agency funds Do the financial statements provide evidence as to what basis of accounting these funds use? No
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