Question: The Hensley School District was noti ed by the state education
The Hensley School District was notiﬁed by the state education department that it has been awarded a $2 million grant to implement a unique elementary school reading program. The district has met all eligibility requirements for the grant. As of the end of the district’s ﬁscal year, however, the state legislature had not yet appropriated the resources for the grant. Do you think that the district should recognize revenue in the period in which it was notiﬁed of the grant, or delay recognition until the state ofﬁcially appropriates the resources?
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