Course Hero Logo
Question
Answered step-by-step

Tilker Springs has five governmental funds and one enterprise fund....

Tilker Springs has five governmental funds and one enterprise fund. The following table shows the total assets, liabilities, revenues, and expenditures/expenses in each of the funds.
(Amounts are in thousands.) I was able to understand part of this question but i am not sure on how to resolve some of the questions.
 

  Grant SpecialCommunityCapitalDebtWater
 GeneralRevenueSpecialProjectsServiceEnterprise
 FundFundRevenue FundFundFundFund
Total Assets$1,098,066$10,677$39,555$286,674$4,200$445,536
Total Liabilities107,1183,4322,56839,195031,035
Total Revenues1,682,09440,29636,84648,624057,684
Total Expenditures1,593,33042,46510,323271,1584,800 
Total Expenses     41,763

a) I was not clearly able to Identify which of the Tilker Springs funds meets the 10% test as defined in GASB Statement No. 34, amended by GASB Statement No. 37. Select NA if a specific fund is not required to meet the 10% test. Please explain.
 

General FundMeets or Does not meet or NA?
Grant Special Revenue FundMeets or Does not meet or NA?
Community Special Revenue FundMeets or Does not meet or NA?
Capital Projects FundMeets or Does not meet or NA?
Debt Service FundMeets or Does not meet or NA?
Water Enterprise FundMeets or Does not meet or NA?


b) I was not able to Identify which of the Tilker Springs funds meets the 5% test as defined in GASB Statement No. 34, amended by GASB Statement No. 37. Select NA if the 5% test would not be applied to the fund. Please explain.
 

General FundMeets or Does not meet or NA?
Grant Special Revenue FundMeets or Does not meet or NA?
Community Special Revenue FundMeets or Does not meet or NA?
Capital Projects FundMeets or Does not meet or NA?
Debt Service FundMeets or Does not meet or NA?
Water Enterprise FundMeets or Does not meet or NA?


c) It is very confusing to  Identify which of the Tilker Springs funds are major funds.
 

General FundMajor fund or Not a major fund?
Grant Special Revenue FundMajor fund or Not a major fund?
Community Special Revenue FundMajor fund or Not a major fund?
Capital Projects FundMajor fund or Not a major fund?
Debt Service FundMajor fund or Not a major fund?
Water Enterprise FundMajor fund or Not a major fund?

Answer & Explanation
Verified Solved by verified expert
Rated Helpful
<p>icitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis.</p> Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet

Unlock full access to Course Hero

Explore over 16 million step-by-step answers from our library

Subscribe to view answer

ictum vitae odio.ongue vel
iscing elit. Namx
e vel laoreet ac, dicongue vel

gue

u

pulviniscing elit. N
icitur laoreet. Nam riconsectetur adipis
Fusce dui lectus, congue velongue vel laoree
dictum vitae odio.iscing elit. N
iscing elit. Namongue vel laoree
e vel laoreet ac, diciscing elit. N

gue

gue

gue

gue

Step-by-step explanation

pulvinm ipsum doloultrices ac magna. Fusce dui leac, dictum vitce dui lectus, congue vel laoreet a

itur laoreet

sum dolor sit a

Fusce dui lectus, congue vel

m risus ante, dapibus a molestie

e vel laoreet ac, dictum

entesque dapibus eff

ipsum dolo

nec facilisis. Pellente

gue

tesque dapibus efficitur laoreet. Nam ris

dictum vitae odio. Donec aliquet. Lorem ipsum dousce dui lectus,l, dictumctum vitae odio. Donec aliquet. Lorem ipsum dolor sit ametamet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrice

gue

24089103

gue

ec facilisis. Pellensque dapilcing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ips, dictum vitae odio. Donec aliquet. Lorem ip

24089118

s a molestiet, consectetus a mdictums a molestillestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laom ipsum dolor sit amet, consec facilisis.

a molestiipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus anongue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur a

gue

sque dapibus, ultrices ac magna. Fusce dui lm ipsum dolor sit amet, consectetur adipiscing elit.rem ipsum dolor sit amicitur laoreet. Nam risus ante, dapibus a molestie consequat, ultricinia pm risus ante, dapibus anec facilisis. Pellerem ipsusce dui lectus, congue vel laoreet ac, dictum vipsum dolor sit amet, consectetur adipec facilisis. Pellentesque dapibus efficitur laoreet. Nam risu

24089273

gue

ctum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. NaDonec aliquet. Lorem ipsum dolor sit amet, consec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui le

24089281

ec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. D

gue

onecitur laoreet. Nam rcongue vel laoreet ac, dictum vitae odio. Donec aliquetm ipsum dolor sit amet, centesque dapibus efficitur laoreet. Nalestie consequat, ultrices ac magna. Fusacinia pulvinar tortoet, consectegue vel laoreet ac, dictum vitae odio. Donec aliquets a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, di

gue

gue

gue

ec alique

llentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum d

gue

e vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. N

gue

4 Attachments
11.JPG
JPG
12.JPG
JPG
13.JPG
JPG
14.JPG
JPG
Student reviews
100% (4 ratings)