Question
A school district prepares its budget on a cash basis. It is contemplating the changes or actions that follow. For each, indicate the impact that
A school district prepares its budget on a cash basis. It is contemplating the changes or actions that follow. For each, indicate the impact that the change would have (1) on year-ending June 30, 2017 general fund expenditures or transfers and (2) on year ending June 30, 2017, government -wide expenses (e.g., increase expenditures by $x or no impact). Provide a brief explanation of your response, indicating that you are aware of the relevant financial reporting issue. 5. The district delayed from June to July thee approval of a grant of $50,000 to a local health clinic that provides examinations to low-income students. The funds are to be paid out of resources budgeted for the fiscal year ending June 30, 2017, and are intended for use by the clinic in that same period.
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