Question 3 Not complete Marked out of 10.00 P Flag question Determination of major funds Fund Tilker Springs has five governmental funds and one enterprise fund. The following table shows the total assets, liabilities, revenues, and expenditures/expenses in each of the funds. (Amounts are in thousands.) Grant Special Community Capital Debt Water General Revenue Special Projects Service Enterprise Fund Fund Revenue Fund Fund Fund Total Assets $732,044 $7,118 $26,370 $191,116 $2,800 $297,024 Total Liabilities 71,412 2,288 1,712 26,130 0 20,690 Total Revenues 1,121,396 26,864 24,564 32,416 0 38,456 Total Expenditures 1,062,220 28,310 6,882 180,772 3,200 Total Expenses 27,842 a) Identify which of the Tilker Springs funds meets the 10% test as defined in GASB Statement No. 34, amended by GASB Statement No. 37. Select NA if a specific fund is not required to meet the 10% test. General Fund Grant Special Revenue Fund Community Special Revenue Fund Capital Projects Fund Debt Service Fund Water Enterprise Fund b) Identify which of the Tilker Springs funds meets the 5% test as defined in GASB Statement No. 34, amended by GASB Statement No. 37. Select NA if the 5% test would not be applied to the fund. General Fund Grant Special Revenue Fund Community Special Revenue Fund Capital Projects Fund Debt Service Fund Water Enterprise Fund e C) Identify which of the Tilker Springs funds are major funds. General Fund Grant Special Revenue Fund Community Special Revenue Fund Capital Projects Fund Debt Service Fund Water Enterprise Fund Check Question 3 Not complete Marked out of 10.00 P Flag question Determination of major funds Fund Tilker Springs has five governmental funds and one enterprise fund. The following table shows the total assets, liabilities, revenues, and expenditures/expenses in each of the funds. (Amounts are in thousands.) Grant Special Community Capital Debt Water General Revenue Special Projects Service Enterprise Fund Fund Revenue Fund Fund Fund Total Assets $732,044 $7,118 $26,370 $191,116 $2,800 $297,024 Total Liabilities 71,412 2,288 1,712 26,130 0 20,690 Total Revenues 1,121,396 26,864 24,564 32,416 0 38,456 Total Expenditures 1,062,220 28,310 6,882 180,772 3,200 Total Expenses 27,842 a) Identify which of the Tilker Springs funds meets the 10% test as defined in GASB Statement No. 34, amended by GASB Statement No. 37. Select NA if a specific fund is not required to meet the 10% test. General Fund Grant Special Revenue Fund Community Special Revenue Fund Capital Projects Fund Debt Service Fund Water Enterprise Fund b) Identify which of the Tilker Springs funds meets the 5% test as defined in GASB Statement No. 34, amended by GASB Statement No. 37. Select NA if the 5% test would not be applied to the fund. General Fund Grant Special Revenue Fund Community Special Revenue Fund Capital Projects Fund Debt Service Fund Water Enterprise Fund e C) Identify which of the Tilker Springs funds are major funds. General Fund Grant Special Revenue Fund Community Special Revenue Fund Capital Projects Fund Debt Service Fund Water Enterprise Fund Check
