Unexpended Intergovernmental Grants and Taxes Dedicated to Capital Improvements in a Capital

question 117

True/False

Unexpended intergovernmental grants and taxes dedicated to capital improvements in a capital projects fund are likely to be classified as Committed Fund Balance

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Definitions:

Bold-face Type

A font style that is darker and thicker than the surrounding text to emphasize importance.

Footnote

Additional information provided at the bottom of financial statements to clarify or expand on the data presented.

Pro Forma Income

An estimate of the net income and other financial metrics for a future period, based on projected revenues and expenses.

Nonrecurring

Items or events, such as extraordinary charges or gains, that are not expected to happen regularly or predictably.