A government was billed $3,000,000 during the year on its capital project, of which $2,700,000 was paid. The total contracted cost is $5,200,000. The government does not plan to pay the $300,000 balance currently owed to the contractor until the project has been completed and approved. The government should report Capital Projects Fund expenditures for the current year equal to

Select one:

a. $2,700,000.

b. $3,000,000.

c. $5,200,000.

d. $4,900,000.

Which of the following should not be reported as other financing sources (uses) in a Capital Projects Fund?

Select one:

a. Transfer from General Fund.

b. Premium on general obligation bonds issued to finance a general government capital project.

c. Proceeds from special assessments levied against property owners to finance construction of a general government capital project initially financed with long-term debt.

d. Face value of general obligation bonds issued to finance a general government capital project.