Governmental funds: There are five types of governmental funds The general funds for governmental operations such as payment of salariesand purchase of supplies. Special revenue funds for special projects such as construction projects. Capital project funds for capital maintenance and revenue determination. Debt service funds for long term payment and interest payment. Permanent funds as restricted fund such as earnings only. Special revenue funds: when governmental resources are restricted for specific purposes such as development of state highway system or maintenance of school system or libraries and the revenue for this is often taken from special taxes or government grants special revenue funds are used to account for resources. To explain :how are the governmental funds and special funds are reported by governmental organizations.

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Chapter 18, Problem 18.10Q

To determine

Governmental funds: There are five types of governmental funds

The general funds for governmental operations such as payment of salariesand purchase of supplies.

Special revenue funds for special projects such as construction projects.

Capital project funds for capital maintenance and revenue determination.

Debt service funds for long term payment and interest payment.

Permanent funds as restricted fund such as earnings only.

Special revenue funds: when governmental resources are restricted for specific purposes such as development of state highway system or maintenance of school system or libraries and the revenue for this is often taken from special taxes or government grants special revenue funds are used to account for resources.

To explain:how are the governmental funds and special funds are reported by governmental organizations.

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