Identify Appropriate Funds Each of the following transactions relates to a city government: Required Identify the fund(s) affected by each of the transactions. HINT: Answer options that include more than one fund (ex: General fund, custodial fund) will each only be used once. Some single fund answers will be used more than once. 1. Resources are accumulated from general revenues and invested for the retirement of a general bond issue maturing in ten years. Answer 2. The city receives a grant from the federal government to institute a meal delivery program for senior citizens. Answer 3. New sewer lines are installed on the south side of the city, with resources initially provided by the general fund. No debt is issued. Residents of the south side pay for the cost of the project with an additional charge on their property tax bill during each of the next ten years. Answer 4. Same as 3., except that initial financing is provided by issuing bonds. Residents pay the principal and interest on the bonds with an additional charge on their property tax bill, but the city is liable for the bond payments. Answer 5. To remedy a flooding problem, the city builds a new drainage system in the northern part of the city, financed with a general bond issue. Answer 6. The city establishes a retirement fund for its fire fighters, and sets aside 8 percent of the fire fighters wages each year. The city administers the investment of funds and the payment of benefits. Answer 7. Same as 6., except that the city pays a premium to an insurance company fully responsible for investment of funds and benefit payments. Answer 8. The city set up a data services division to handle payroll and other functions for all city agencies, for a fee. Answer 9. Fifteen new police cars are purchased, as provided in the general budget. Answer 10. Received state aid funds to be used for any of the citys general operations. Answer 11. The city deducts federal income taxes from its employees wages and periodically remits them to the federal government. Answer 12. The city receives a $3,000,000 trust from a citizen. Income from trust investments must be used to maintain the public museum. Answer 13. The city invests money received from other governments that pool their investments to increase return on excess funds invested. Answer