Problem #3: Governmental Funds vs. Government-wide Financials: Presented below are transactions that must be recognized in the governmental funds using the current financial resources measurement focus and modified accrual accounting and the government-wide financial statements using the economic resources measurement focus and full accrual accounting of the City of Rosebud. The City of Rosebuds fiscal year 2022 begins on July 1, 2021 and ends on June 30, 2022.

1. On July 1, 2021, the City of Rosebud transferred $8,000,000 from the general fund to a new capital projects fund to be used to construct a new government center.

Recorded in:					GOVERNMENT-WIDE F/S
Date	Account Names		Debit	Credit	Date	Account Names	Debit	Credit

Recorded in:					GOVERNMENT-WIDE F/S
Date	Account Names		Debit	Credit	Date	Account Names	Debit	Credit

2. On August 1, 2021, the City of Rosebud issued $50,000,000 of 20-year, 6% bonds to fund the construction a new government center. The bonds pay interest semi-annually on February 1 and August 1. The bonds were issued at 101 which resulted in a yield to maturity of 5.914% APR to the bond investors.

Recorded in:					GOVERNMENT-WIDE F/S
Date	Account Names		Debit	Credit	Date	Account Names	Debit	Credit

3. On August 1, 2021, the City of Rosebud transferred the bond premium to the appropriate fund for the protection of the bondholders.

Recorded in:					GOVERNMENT-WIDE F/S
Date	Account Names		Debit	Credit	Date	Account Names	Debit	Credit

Recorded in:					GOVERNMENT-WIDE F/S
Date	Account Names		Debit	Credit	Date	Account Names	Debit	Credit