Identify Appropriate Fund Following are some common activities or transactions of a state or local..

Identify Appropriate Fund Following are some common activities or transactions of a state or local government. 1. Public safety programs financed by state and federal grants. 2. Proceeds of a state grant to be used to finance construction of a community center. 3. Operations of a municipal swimming pool, financed by user fees. 4. Accumulation of payroll deductions from local employees for health insurance premiums, to be remitted to various insurance companies. 5. Activities of a central printing operation that provides services to various government agencies. 6. Transactions of a state employee retirement plan. 7. A town collects property taxes to be used for county services, and periodically remits these taxes to the county. 8. Purchase of materials for the construction of a county courthouse. 9. Payment of interest on general obligation bonds. 10. Payment of salaries to municipal employees. 11. Acquisition of books by a local public library, where the library is funded by a special property tax. 12. Accumulation of money to be used to pay interest on general obligation bonds. 13. Activities of a park trust, where income from non-spendable trust investments is restricted to the funding of maintenance costs for public parks. 14. Accumulation of abandoned bank balances that have reverted to the town. Required Indicate the type of fund in which each activity or transaction should be recorded by a state or local government. View Solution:
Identify Appropriate Fund Following are some common activities

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