(GL and SL Entries; Trial Balances; Statements) The following transactions and events relate to the Harmer Independent School District High School Building Capital Projects Fund during 20X6 1. The school board appropriated $9,000,000 to construct and landscape a new regional high school building to be financed as follows Bond issue proceeds.. Federal grant (for 20% of cost). . . . . . . . . . . State grant . .. . $6,000,000 1,800,000 700,000 500,000 $9,000,000 All of the financing sources are restricted to high school construction-related expenditures except the transfer from the General Fund that was from unassigned General Fund resources. Harmer's policy is to expend restricted resources before committed, assigned, or unassigned resources available for the same purpose. The appropriations made for the high school building were $5,000,000 1,800,000 1,300,000 700,000 200,000 $9,000,000 2. Contract s were let to private contractors: $4,700,000 1,825,000 1,300,000 $7,825,000 Thus, the plumbing and heating appropriation was increased $25,000, and the structure appropriation was decreased S300,000 3. Cash receipts during 20X6 included 250,000 350,000 2,020,000 100,000 $2,720,000 Bond issue proceeds (par $2,000,000) Transfer from General Fund . . . . . . . .. The federal grant is for 20% of actual qualifying costs incurred (expenditure-driven) up to its $1,800,000 maximum, but the state grant is an outright contribution to the project. The remaining bonds authorized will be issued as needed, depending on market conditions; and the board authorized only part of the General Fund transfer but is expected to authorize the remainder during 20x7 (GL and SL Entries; Trial Balances; Statements) The following transactions and events relate to the Harmer Independent School District High School Building Capital Projects Fund during 20X6 1. The school board appropriated $9,000,000 to construct and landscape a new regional high school building to be financed as follows Bond issue proceeds.. Federal grant (for 20% of cost). . . . . . . . . . . State grant . .. . $6,000,000 1,800,000 700,000 500,000 $9,000,000 All of the financing sources are restricted to high school construction-related expenditures except the transfer from the General Fund that was from unassigned General Fund resources. Harmer's policy is to expend restricted resources before committed, assigned, or unassigned resources available for the same purpose. The appropriations made for the high school building were $5,000,000 1,800,000 1,300,000 700,000 200,000 $9,000,000 2. Contract s were let to private contractors: $4,700,000 1,825,000 1,300,000 $7,825,000 Thus, the plumbing and heating appropriation was increased $25,000, and the structure appropriation was decreased S300,000 3. Cash receipts during 20X6 included 250,000 350,000 2,020,000 100,000 $2,720,000 Bond issue proceeds (par $2,000,000) Transfer from General Fund . . . . . . . .. The federal grant is for 20% of actual qualifying costs incurred (expenditure-driven) up to its $1,800,000 maximum, but the state grant is an outright contribution to the project. The remaining bonds authorized will be issued as needed, depending on market conditions; and the board authorized only part of the General Fund transfer but is expected to authorize the remainder during 20x7