Chapter 7: Capital Projects Funds 2023 updated version
Chapter 7: Capital Projects FundPrincipal purpose of capital project funds To ensure and demonstrate the economical and legal expenditure of the dedicated financial resources (also serve as cost accounting mechanisms for major capital outlay projects). Expenditure Capital projects funds are designed to control the ___________ of financial resources for major capital assets, some prefer to transfer resources from the General Fund and Special Revenue Funds to Capital Projects Funds rather than to account for capital ____________ through systems oriented to current operations. False. T/F: All long-term debt issue proceeds are accounted for in Capital Projects Funds. Debt Service Fund Proceeds of refunding issues should be accounted for in this fund. Capital Projects Fund Proceeds that are to be used to acquire general government capital assets should be accounted for in this fund.s
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