Following are some of the county’s governmental funds. The c…
Following are some of the county’s governmental funds. The county has asked you to determine if any of the funds listed should be classified as major funds based on the GASB size criteria. Clearly indicate which fund(s) you believe should be classified as major and provide support for your choice(s). General Fund SpecialRevenue Fund Debt Service Fund Total of allGovernmental Funds Total of allGovernmental & Enterprise Funds Assets 12,000,000 1,000,000 500,000 15,000,000 21,000,000 Liabilities 3,000,000 250,000 30,000 4,580,000 5,890,000 Revenues 10,000,000 600,000 1,450,000 13,770,000 17,123,000 Expenditures/Expenses 9,859,000 725,000 1,300,000 13,460,000 16,665,000
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