A county receives $12,000,000 from a private foundation. The foundation specifics that the $12,000,000 must be used for county park maintenance. The county reports activities related to this contribution in a special revenue fund. During the year, the county spends $1,100,000 on park maintenance. At year-end, how does the special revenue fund report fund balance?

1.Nonspendable $12,000,000 and restricted $(1,100,000)

2.Restricted $12,000,000 and assigned $(1,100,000)

3.Restricted $10,900,000

4.Committed $10,900,000