Question

Indicate which governmental fund would most likely be used to record the following events and transactions:

A) debt service fund B) permanet fund C) general fund D) Special Revenue Fund E) Capital projects fund

--The City sent property tax bills to taxpayers to help cover day-to-day operations.

--The City received a Federal grant fund an alternative sentencing program. --Cash was transferred to this fund to accumulate resources to pay general obligation bond debt. --Received $2,000,000 in Federal grant money to construct a new police substation. --Received a donation from a private citizen with the stipulation that the corpus be kept in perpetuity, but the earnings are to be used to purchase media for the public library. --The proceeds from a $1,000,000 general obligation bond issued to convert abandoned railways into walking and bicycle trails in the City were deposited in this fund. --The mayor was paid her monthly salary from this fund. --The County levies a hotel occupancy tax that may only be used to fund parks and other recreational facilities. --Progress payment #2 to the general contractor on a $8,000,000 new City Hall facility were issued. --Paid the invoice received from a human resoruces consultant hired to review and evaluate the City's personnel manual.

Answer 1

The City sent property tax bills to taxpayers to help cover day-to-day operations - Special revenue fund

The City received a Federal grant fund an alternative sentencing program - General fund

Cash was transferred to this fund to accumulate resources to pay general obligation bond debt - Debt service fund

Received $2,000,000 in Federal grant money to construct a new police substation - Capital Projects fund

Received a donation from a private citizen with the stipulation that the corpus be kept in perpetuity, but the earnings are to be used to purchase media for the public library - Permanent fund

The proceeds from a $1,000,000 general obligation bond issued to convert abandoned railways into walking and bicycle trails in the City were deposited in this fund - Special revenue fund

The mayor was paid her monthly salary from this fund - General fund

The County levies a hotel occupancy tax that may only be used to fund parks and other recreational facilities - Special revenue fund

Progress payment #2 to the general contractor on a $8,000,000 new City Hall facility were issued - Special revenue fund

Paid the invoice received from a human resoruces consultant hired to review and evaluate the City's personnel manual - Special revenue fund