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LA capital proiects fund is established for the construction of a recreation center. The total project is estimated to cost $15,000,000, with funding to come

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LA capital proiects fund is established for the construction of a recreation center. The total project is estimated to cost $15,000,000, with funding to come from a $9,000,000 general obligation bond issue, a $4,000,000 federal grant, and a $2,000,000 transfer from the general fund.2.The general fund transfers $2,000,000 to the capital proiects fund.3.$3,500,000 of the federal grant is received in cash.4.The bond issue with a par value of $0,000,000 yields $0,002,000. The premium is transferred to the debt service fund to finance payment of bond principal and interest.5.A contract for $14,800,000 is awarded to a contractor.6.lnvoices for $8,000,000 are received for work performed by the contractor. The town has a 5% retainage policy and pays the contractor $2,000,000 in cash.T.The county's spending policy is to use restricted resources first. The county uses the GAAP budgetary basis for end-of-year encumbrances. What is the total for other financing sources for 2020, reported on the capital projects fund operating statement? Select one: a. sometime B. $13,000,000 C. $ 9,000,000 D. $ 2,000,000

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