Modified accrued accounting
fixed assets and long-term debt are not reported on the fund statements.
Capital assets are not included. Equity accounts are fund balances
FULL accruded accounting. Have long-term debt. Pay their own principal and interest on all debt. They depreciate and have capital assets. Equity accounts are "net asset" accounts
act as trustee or agent-- serve as a collection point, not the owner or end point of the money. Use full accrued accounting
records most taxes
operating expenditures: admin, public safety, cultural, health, transportation
receipts and disbursements of resources dedicated for a specific governmental purpose
Must use all money
i.e. gifts, grants, taxes
resources used for building capital assets for governmental activities only (ps, health, admin)
i.e. city hall, library, police station
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