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Essay / Research Paper Abstract
A 4 page paper answering 3 questions about municipal balance sheets provided via one of the sources. The questions are standard accounting questions dealing primarily with allocation of funds and charges to appropriate categories. Bibliography lists 2 sources.
Page Count:
4 pages (~225 words per page)
File: CC6_KSacctGovtQu.rtf
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Unformatted sample text from the term paper:
the general fund receives $150 million in revenues and spends $100 million in operating expenses, then it has a net gain of $50 million to report on the balance sheet.
1B. The general fund transferred $20 million to the debt service fund, but $5 million of that sum was used to pay
interest on the debt. The balance sheet should reflect an additional $15 million in the debt service fund. 1C. "The district
issued $130 million in bonds to finance construction of plant and equipment," spending $40 million on the various projects. The balance sheet should reflect the addition of $90 million
in the capital projects fund. 2. With the addition of the items above, the balance sheet would reflect changes in the general
fund, debt service fund and capital projects fund. The general fund increases by $50 million to $80 million; the debt service fund increases by $15 million to $35 million;
and the capital projects fund increases by $90 million to $180 million. The total of all funds increases from $140 million by $155 million (50 + 15 + 90)
to $295 million. Second Question: 1. Under the first alternative, the town would need to set aside $50,000 each month for the
remainder of the year (4 months) to have the $200,000 interest payment available on January 1, 2005. The second alternative would require that the town set aside $75,000 each
of those four months. The third requires repayment in 20 years, but it does not require any payment at all until that time. The town would need to
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