Below Is Information on Total Assets for Various Funds of the City

question 29

Essay

Below is information on total assets for various funds of the City of Dublin all amounts are in thousands of dollars.
$\begin{array}{|l|r|}\hline{\text { Fund }} &{\text { Assets }} \\\hline \text { General } & \$ 1,300 \\\hline \text { Federal Grants Special Revenue } & 500 \\\hline \text { State Grants Special Revenue } & 200 \\\hline \text { City Hall Capital Projects } & 900 \\\hline \text { Debt Service } & 700 \\\hline \text { Water and Sewer Enterprise } & 8,000 \\\hline \text { Swimming Pool Enterprise } & 1,000 \\\hline \text { Fleet Management Internal Service } & 10,800 \\\hline \text { Employee Pension Fund } & 6,500\\\hline\end{array}$ Requirement: Prepare a schedule computing the threshold for asset amounts that should be used to determine which funds must be reported as major. Identify which funds are major funds.

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Definitions:

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