You have previously worked for a publicly traded corporation as the assistant controller. You recently took a job with a city as the head of the accounting function. It is your responsibility to oversee the accounting, prepare the financial statements, and report to the director of finance. You had a governmental accounting class in college, but that was years ago. You are reviewing the financial statements from the previous year and notice deferred inflows and outows of resources listed on the fund financial statements. You do not remember learning about this account. You did not really keep up on EASE standards while you were working for the publicly traded company. You decide that you need to do some research to learn what these accounts are and what types of transactions give rise to them. You decide to start with finding the denition of these items provided by EASE. Provide an appropriately referenced copy of the definition. After some investigation, you realize that the existing items on the balance sheet relate primarily to some grants. The city just received a new grant that require the city to develop wellness programs for senior citizens with the focus of getting them involved in more outdoor activities. The grant is from an environmental group that expects the outcome to result in senior citizens getting more involved in the environmental movement, through gardening, hilring, etc. The funding will be received after the program is established and some documentation provided regarding participation in the program. The park district created an excellent program that was approved by the grantor. Funds have recently been received, but the restriction on the grant is that the funds are to be used during the nerct offering of the program to support ongoing involvement by senior citizens. The next offering of the program will be during the city's next scal year. You are not sure how to record this grant. ihfhile the cash has been received, it seems that it cannot be used until the next fiscal period. You decide you need to research this issue. All you need to do is find appropriate III-ASE standard support that explains how this type of grant needs to be accounted for and a brief explanation (one or two sentences] of the entry you decide that you need to make. The director of nance contacted you about an issue regarding the power utility that the city runs as an enterprise fund. The chief operations manager of the utility had petitioned the regulatory body regarding a request for a rate increase to help recover costs related to changes needed to meet the new EPA requirements regarding cleaner energy production. The rate increase was approved with the stipulation that if costs incurred are not large enough to use the entire rate increase, a rebate must be provided to customers. The rate regulator is requiring the government to provide an accounting of the amount of extra fees customers have provided and the cost of the improvements specifically to meet the EPA requirements. This rate change was approved prior to changes in EPA requirements made after President Trump took office. Therefore, there are now some concerns that the amount of costs incurred for the needed changes may not be as large as previously anticipated. The increased rate taltes affect Twith the current bling cycle. The tilIEEtDI' of nance wants a better understanding of how these increased rates wl be accounted for. The chief operations managerthinlrs they will be revenue, but the director of finance, a CPA, is less convinced. lConduct research to determine how the increased rates should be accounted for and write a brief [one page or less} memo to the director of finance regarding the appropriate accounting treatment for the increased rate collections. Your memo should include any references to GASE- standards that you need for support