A school district receives a grant from the federal government to support programs directed at special needs students. The grant
As a new comptroller, you must decide which funds should be used to account for the federal grant and the school district match. After some research, you believe that the school district has some options as to the governmental funds that it will use for ﬁnancial reporting purposes. What are the options? In which funds would you report the transactions associated with the federal grant and school district match?
Should they be accounted for in the same fund? What factors inﬂuenced your decision?
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Question Posted: August 13, 2014 11:41:42