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1. Why are statements for several Capital Projects Funds presented in combining form? 2. A Capital Projects Fund is, in essence, a special type of

1. Why are statements for several Capital Projects Funds presented in combining form?

2. A Capital Projects Fund is, in essence, a special type of Special Revenue Fund. Explain.

3. Why would a grantor not permit general municipal overhead to be charged to a capital project financed by its grant or insist that allowable (reimbursable) overhead be calculated by means of a predetermined formula related to direct project costs?

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