Question: The GASB requires a government to prepare budgetary comparisons for
The GASB requires a government to prepare budgetary comparisons for its general fund and major special revenue funds that have a legally adopted annual budget. The city for which you work does not have a legally adopted budget prepared speciﬁcally for its general fund and major special revenue funds. Instead, the city prepares a legally adopted master budget for the entire government and divides it into functions and programs. With the functional and program information provided in the budget, the accounting department can speciﬁcally assign the budgetary amounts to governmental funds for budgetary control purposes. The government has a general fund and two special revenue funds. What budgetary comparison schedules should the government prepare, if any?
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