Identification of activities with particular governmental-type funds Using only the governmental-type funds, indicate which would be used to record each of the following transactions and events. GF General Fund SRF Special Revenue Fund DSF Debt Service Fund CPF Capital Projects Fund PF Permanent Fund 1. Property taxes were received directly by the fund used to accumulate resources to pay bond principal and interest 2. The city received its share of a state sales tax that is legally required to be used solely to finance library operations. 3. The city sent property tax bills to homeowners to help pay for day-to-day operating costs. 4. The city paid for five fire engines, using resources accumulated in a fund to pay for capital assets. 5. The city received a grant from the state to build an addition to the city hall. 6. The city received the proceeds of general obligation bonds to finance the construction of a new police station. 7. The mayor was paid his monthly salary 8. Expenditures for the day-to-day operations of the Police Department were recorded. 9. Parks admissions fees, dedicated for use in day-to-day maintenance of the city park system, were collected. 10. The city paid a contractor who had completed a report on the potential for improving police deployment as a way to reduce the crime 11. The city workers were paid their weekly salaries
9. Parks admissions fees, dedicated for use in day-to-day maintenance of the city park system, were collected 10. The city paid a contractor who had completed a report on the potential for improving police deployment as a way to reduce the crime rate 11. The city workers were paid their weekly salaries 12. The city retired some of its outstanding bonds, using money accumulated for that purpose. 13. A federal grant was received to help pay for the cost of constructing the new city hall, 14. The city received a donation from a taxpayer with the stipulation that it be invested and kept in perpetuity, so that the income from the investments could be used to buy library books 15. The city received income from the investments made in the previous activity
? Choose... GF SRF DSF CPF PF Choose... - Choose... - Choose...

1. Debt Service Fund

Reason:-  A debt service fund accounts foe and reports financial resources that are restricted or assigned to pay for the interest and principal on certain types of debt.

2. Capital Project Fund

Reason :- Resouces are legally restricted, committed or assigned to expenditure a capital outlay or project.

3. Special revenue Fund

Reason:- Property taxes collected are used to support specific activities of homeowners.

4. Capital Project Funds

Reason:- Capital Projects Fund means a fund used to account for financial resources to be used for the acquisition or construction of major capital facilities. And here the expenditure is to be done on capital asset.

5. Special Revenue Fund

Reason: Grant is received by the city from the state for a specific purpose i.e to build an addition to the city hall. This grant received has to be used for this purpose only.

6. Capital Project Funds

Reason:-  Capital Projects Fund means a fund used to account for financial resources to be used for the acquisition or construction of major capital facilities. And here the expenditure is to be done on capital asset i.e. buliding of police station.

7. General Fund

Reason:-  A general fund is the fund that is used to meet day to day operating expenditure. And salary is the operating expense.

8. General Fund

Reason:- A general fund is the fund that is used to meet day to day operating expenditure. And here the day to day expenditure of police department is recorded.

9. Permanent Fund

Reason: Earnings in the fund are used for the purposes that benefit the citizens or the public.

10. Special Reserve Fund

Reason:-A special revenue fund is an account established by a government to collect money that must be used for a specific project. And here the contractor is paid for working on specific project.

11. General Fund

Reason:- A general fund is the fund that is used to meet day to day operating expenditure. And here the workers are paid weekly salary which is operating expenditure and will be paid from general expenditure.

12. Special Reveneue Fund

Reason:- Money is used for the specific purpose for which it was accumulated.

13. Special Revenue Fund

Reason: Grant received from federal government to meet a specific purpose.

14. Permanent Fund

Reason:- A permanent fund is a fund where the principal fund may not be used and only earnings on the fund are used for the benefit of the government or its citizens. Also contribution of the principal amount from the donor to be invested is kept in perpetuity.

15. Permanent Fund

Reason:-  A permanent fund is a fund where the principal fund may not be used and only earnings on the fund are used for the benefit of the government or its citizens. And here the earning is done from investment done in previous activity.