Question: Review the notes to the financial statements, specifically the note ( in the summary of significant accounting policies ) regarding the definition of modified accrual

Review the notes to the financial statements, specifically the note

(

in the summary of significant accounting policies

)

regarding the definition of modified accrual accounting. Does the note specifically indicate that modified accrual accounting is used for capital projects and debt service funds? Does the note indicate that debt service payments, both principal and interest, are recorded as an expenditure when due

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