RESPOND IN 175 WORDS

There are many capital project funds. Roadway, highways, improvements on roads and infrastructures are examples of Capital Project Funds. The purpose is specific funding to a project with an allocated budget estimated. A debt service fund is a reserve for fees and obligatory expenditures to be paid on time. It is a net to the project funding. So it stays on schedule. Having this sort of reserve lowers the risk on specific funding. A Permanent Fund is a fund that is set up and maintain by state and local government for various funding. An example is the Alaskan Permanent Fund. The State's generated revenue from natural resources, mainly oil, that is used and revenue generated a percentage of this is set aside as a portfolio for investment which are then turn around to eligible Alaskans as dividends from this generated revenue. This permanent fund was established in the late 1970's by the Alaskan State. The difference between government-wide financial statements and fund-basis financials is the government-wide financials give all contributing funding and is very detailed and similar to a business Income Statement, while fund-basis statement only shows a time period of specific funding from the government and represents a modified accrual accounting transactions .