Problem 2: True/False 1. In a private purpose trust fund, interest income accrued but not received as of December 31, 2021, is reported as a deferred inflow of resources if it is not received within 60 days after 12/31/21. 2. Equity, debt, and real estate investments are reported in pension trust funds at fair value. 3. The State of Illinois College Savings Pool Fund is an investment trust fund. 4. Individuals who make contributions to the Illinois College Savings Pool Fund do not have to pay federal or state Income taxes on the earnings from the contributions when withdrawals are made to pay for qualified education expenses. 5. On the statement of changes in fiduciary net position for a county's property tax custodial fund, property taxes distributed to local governments are reported as operating expenses. 6. On the statement of changes in fiduciary net position for a county's property tax custodial fund, property taxes distributed to the county's general fund should be reported as other financing uses: transfer out. 7. The financial statements for public safety employee pension trusts disclose all of the financial information that users need to assess the financial health of the pension plans.