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A county capital projects fund receives resources of $9,000,000 from a bond issue and a state grant of $20,000,000, to build an administration building. Both

A county capital projects fund receives resources of $9,000,000 from a bond issue and a state grant of $20,000,000, to build an administration building. Both funding sources are externally restricted to the capital project. During the year contracts are signed for $23,000,000. Contractors submit bills for $12,000,000 and the county pays $11,000,000. At year-end, how does the capital projects fund report fund balance?

Restricted $11,000,000, committed $11,000,000

Restricted $10,000,000, committed $11,000,000

Restricted $17,000,000

Restricted $18,000,000

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