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Choose the correct fund balance classification for each premise below The City council of Sommerville passed an ordinance stipulating that $200k must be used to
Choose the correct fund balance classification for each premise below The City council of Sommerville passed an ordinance stipulating that $200k must be used to reimburse homeowners affected by the new public project. The City's Finance Director decided to upgrade the city's Financial system using $10k of the discretionary funds available. The City council of Sommerville passed an ordinance stipulating that $200k must be used to reimburse homeowners affected by the new public project. The City's Finance Director decided to upgrade the city's Financial system using $10k of the discretionary funds available. Property taxes of $1.8M were collected from the levy and placed in the general fund to cover day to day operating expenditures
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