The construction of a new high school football complex for Allen Independent School District is accounted for in a Capital Projects Fund. Construction is scheduled to begin in 20X2 and financing for the construction came from the following sources in 20X1:

Reimbursement grant (cash received)

from state government $ 2,000,000

Issuance of general obligation bonds 60,000,000

Transfer from the General Fund 3,000,000

In the 20X1 statements for the Capital Projects Fund, Allen should report these amounts as

Other

Unearned Financing

Revenues Sources

A. $65,000,000 $0

B. $63,000,000 $2,000,000

C. $2,000,000 $63,000,000

D. $0 $65,000,000