Question
Below is information on total assets for various funds of the City of Dublin (all amounts are in thousands of dollars). Fund Assets General $1,300
Below is information on total assets for various funds of the City of Dublin (all amounts are in thousands of dollars).
Fund | Assets |
General | $1,300 |
Federal Grants Special Revenue | 500 |
State Grants Special Revenue | 200 |
City Hall Capital Projects | 900 |
Debt Service | 700 |
Water and Sewer Enterprise | 8,000 |
Swimming Pool Enterprise | 1,000 |
Fleet Management Internal Service | 10,800 |
Employee Pension Fund | 6,500 |
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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