1. Which one(s) of the following funds should be reported as a major fund? Please show your rationale. Permanent Fund Capital Project Fund Total of all Governmental Funds Total of all Assets 214000 500,000 Governmental & Enterprise Funds Liabilities 156000 30,000 5,580,000 6,890,000 10,000,000 20,000,000 Revenues 210000 1,450,000 11,770,000 15,123,000 Expenditures/Expenses 139000 1,300,000 15,460,000 19,665,000 2. In addition to the above funds, what other funds must be reported as a major fund