The city spent $10 million constructing a parking facility that benefits a limited group of property owners.
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Question:
The city spent $10 million constructing a parking facility that benefits a limited group of property owners. The facility was financed with the issue of general obligation bonds. The property owners are expected to repay the bonds through additional property taxes. The facility has an estimated useful life of 20 years.
Explain how the project would be reported on both the the government wide and fund financial statements.
Related Book For
Engineering Economy
ISBN: 978-0132554909
15th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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