The Highest Level of Decision-Making Authority for the City of Palo

question 16

Multiple Choice

The highest level of decision-making authority for the City of Palo Pinto passes an ordinance that states that all royalty payments received from oil or gas production on city property must be used for street maintenance or improvements.As of the end of its current fiscal year,the city has $1,250,000 of unspent royalty payments.These amounts should be reported as part of:

• A)nonspendable fund balance
• B)restricted fund balance
• C)committed fund balance
• D)assigned fund balance
• E)unassigned fund balance

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Definitions:

Day-To-Day Operations

The regular activities that are necessary for a business or organization to function effectively on a daily basis.

New Systems Development

The process involved in creating a new IT system or significantly improving an existing system to meet specified needs or objectives.

Business Problems

Challenges or obstacles faced by a business that require solutions in order to maintain or enhance its operations.

IT Innovatively

Utilizing information technology in new and creative ways to solve problems or enhance business operations.