1. Why are statements for several Capital Projects Funds presented in combining form?
2. A Capital Projects Fund is, in essence, a special type of Special Revenue Fund. Explain.
3. Why would a grantor not permit general municipal overhead to be charged to a capital project financed by its grant or insist that allowable (reimbursable) overhead be calculated by means of a predetermined formula related to direct project costs?

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A grantor may do so for a variety of reasons including a Prohibit charging general municipal overhead expenses as a cost of a project it supported or ... View the full answer