QUESTION 3 MODULE 2

Using only the governmental-type funds, indicate which would be used to record each of the following transactions and events:

GF General Fund SRF Special Revenue Fund DSF Debt Service Fund CPF Capital Projects Fund PF Permanent Fund

___ 1. The city transferred cash to the fund used to accumulate resources to pay bond principal and interest.

___ 2. The city received its share of a state sales tax that is legally required to be used to finance library operations.

___ 3. The city sent property tax bills to homeowners to help pay for day-to-day operating costs.

___ 4. The city paid for five fire engines, using resources accumulated in a fund to pay for capital assets.

_ 5. The city received a grant from the state to build an addition to the city hall. _ 6. The city received the proceeds of general obligation bonds to finance the construction of a new police station.

___ 7. The mayor was paid his monthly salary.

_ 8. Expenditures for the operation of the Police Department were recorded. _ 9. Parks admissions fees, dedicated for use in day-to-day maintenance of the city park system, were collected.

___ 10. The city paid a contractor who had completed a report on the potential for improving police deployment as a way to reduce the crime rate.

___ 11. The city workers were paid their weekly salaries.

___ 12. The city retired some of its outstanding bonds, using money accumulated for that purpose.

___ 13. A federal grant was received to help pay for the cost of constructing the new city hall.

___ 14. The city received a donation from a taxpayer with the stipulation that it be invested and kept in perpetuity, so that the income from the investments could be used to buy library books.