The Special Revenue Fund had the following balances carried over from 2019. State Grants must be spent entirely on Park Supplies and the County must match the grant spending dollar for dollar from their own budget. The Advance from State was a State Grant received in 2019 to be applied in 2020.

Cash 100

Advance from State 50

Restricted Fund Balance 50

Jackson County executives approved the following Special Revenue budget for 2020:

DEBIT Budgeted Grant Revenues 20

DEBIT Budgeted Transfer from General Fund 20

DEBIT Budgeted Fund Balance (decrease in) 100

CREDIT Appropriations for Park Supplies 140

Record in the Journal and the Ledger the following 2020 transactions related to the Special Revenue Fund: Purchases of supplies are subject to encumbrances

1. Jackson receives an additional 20 grant from the state. The money must be spent on Park supplies and must be matched with 20 of Jackson County funds within 18 months.

2. Jackson County Finance Manager transfers 20 from the General Fund for Parks Supplies.

3. Jackson management authorizes the order of 140 of Parks Supplies

4. Jackson receives 140 in Parks Supplies and the payment of the supplies is approved.

5. Jackson pays the 140 voucher for Parks Supplies. The purchase of Park Supplies fulfills all the requirements for all Grant money eligibility.

6. At year end, Jackson management determines from an internal audit that 25 in Park Supplies remain unused.

• Purchases of supplies and capital outlays are subject to encumbrances. Salaries and other items are not encumbered Any open encumbrances at year-end are removed.
• Jackson management applies the GASB 60-day rule to Sales tax and intergovernmental grants.