Special assessments are accounted for in an agency fund when the gov't has no obligation to assume responsibility for the
If there is an obligation, the the special assessment tax receipts will be reported in the debt service as restricted funds for e
One type of nonexchange transaction that can result in a difference between accoutning methods is income tax. Income ta
Grants are one example, however, that are recognized as revenue at the same time in both methods of accounting.
s is income tax. Income
An enterprise fund is operated similarly to any business. Services are provided to both governmental departments and non
customers. Therefore, it is desirable for them to operate at a profit - providing resources for such things as facility expansio
The first question to ask is if the trust is meant to benefit the government/its group o
overnment/its group of citizens or specific individuals, private organizations or other governments. If it
her governments. If it is determined to benefit the prior g
CITY OF OXBOW
Balance Sheet - Fund Balance Section
As of December 31, 2015
Rainy day fund
a. The financial reporting entity is the primary government together with its component units.
b. A primary government can be a state government, general-purpose local government, or a special-purpose government.
c. A component unit is a legally separate
Estimated Other Financing Uses Ctrl
Budgetary Fund Balance
Estimated Revenues Control
Property Tax Revenue
Other Tax Revenues
Expenditures - General Government
Expenditures - Public Safety