Question
Below is information on total assets for various funds of the State of Connecticut (all amounts are in thousands of dollars). Fund Assets General $900
Below is information on total assets for various funds of the State of Connecticut (all amounts are in thousands of dollars).
Fund Assets
General $900
Banking Special Revenue Fund 1,700
Insurance Special Revenue Fund 800
Permanent Fund 1,400
Debt Service Fund 4,500
Clean Water Enterprise Fund 1,500
UConn Enterprise Fund 21,000
Information Technology Internal Service 28,500
State Teachers Pension Fund 6,800
Requirement: Prepare a schedule computing the threshold for asset amounts that should be used to determine which funds must be reported as major. Identify which funds are major funds.
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