Question: 1. What amount of expenditures for capital projects does Vero Beach report in its governmental funds? 2. How are capital improvements expenditures most likely reported

1. What amount of expenditures for capital projects does Vero Beach report in its governmental funds?

2. How are capital improvements expenditures most likely reported in the government-wide statements?

3. How is debt service reported in the government-wide statements?

4. How does the city report debt service in the governmental fund financial statements? Why is there not a separate column for a debt service fund?

5. What amount does Vero Beach report on its governmental funds statements as special assessments receivable? What amount does the city report as revenues from special assessments? Do you think that Vero Beach has a significant problem collecting special assessments? Explain.

Exploring Vero Beach’s Financial Report Refer to the financial statements of the City of Vero Beach in Chapter 3.

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1 1836970 x 321840 in the general fund and 1515130 in other governmental funds 2 Vero Beach like most governments and businesses will have established ... View full answer

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