E2-20 Major Funds [LO 2-3]

Forest City has recently implemented GAAP reporting and is attempting to determine which of the following special revenue funds should be classified as major funds and therefore be reported in separate columns on the balance sheet and statement of revenues, expenditures, and changes in fund balances for the governmental funds. As the citys external auditor, you have been asked to provide a rationale for either including or excluding each of the following funds as a major fund. (Leave no cells blank. Round percentage answers to 1 decimal place.)

	Gas Tax revenue Fund	>10% of Governmental Fund	>5% of Governmental and Enterprise Fund	Housing and Urban Development Grant Fund	>10% of Governmental Fund	>5% of Governmental and Enterprise Fund	Forest City Library Fund	>10% of Governmental Fund	>5% of Governmental and Enterprise Fund	All Governmental Fund	All Governmental and Enterprise Fund
Total Assets	$160,748	_______%	_______%	$175,111	_______%	_______%	$101,549	_______%	_______%	$1,563,867	3,497,398
Total Liabilites	72,551	_______%	_______%	85,433	_______%	_______%	0	_______%	_______%	867,533	1,487,255
Total Revenues	138,336	_______%	_______%	169,964	_______%	_______%	120,589	_______%	_______%	1,537,399	2,987,487
Total Expenditures	124,225	_______%	_______%	130,583	_______%	_______%	119,812	_______%	_______%	1,496,233	2,684,531