Problem 2: True/False 1. A funded ratio of 65% for the police pension plan would be judged to be good but not excellent. 2. In a county property tax custodial fund, the assets "property taxes receivable for the county" and the liability "due to the county general fund" are reported on the statement of fiduciary net position. 3. In a county property tax custodial fund, the excess of additions over deductions is reported on the statement of changes in fiduciary net position as net position restricted for other governments. 4. In a property tax custodial fund, property taxes receivable for the county and for the local governments that reside in the county are recorded at the amounts expected to be collected under the modified accrual basis of accounting. 5. Police and firefighters' pension trusts are independent entities, separate and distinct from the local governments that are financially responsible for paying the pensions. 6. A private purpose trust fund would be appropriate to account for a donor's contribution of resources to a local government that stipulated that the resources be invested permanently with the earnings from the investments used to benefit the local government