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  • The City and County of Prevatte Received A State Grant: Unlock Answers Here Solutiondone - Online

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    The City and County of PreVatte received an $18 million state grant to revitalize its downtown district. It hired a director at a salary of $87,500 to oversee revitalization projects. It paid $3 million in grants to local businesses and $125,000 in salaries. It filed for reimbursement from the state at year end for qualifying expenditures from the grant.

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    The City and County of PreVatte received an $18 million state grant to revitalize its downtown district. It hired a director at a salary of $87,500 to oversee revitalization projects. It paid $3 million in grants to local businesses and $125,000 in salaries. It filed for reimbursement from the state at year end for qualifying expenditures from the grant.

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    12 views1 page

    The City and County of Prevatte Received A State Grant: Unlock Answers Here Solutiondone - Online

    Uploaded by

    trilocksp Singh
    The City and County of PreVatte received an $18 million state grant to revitalize its downtown district. It hired a director at a salary of $87,500 to oversee revitalization projects. It paid $3 million in grants to local businesses and $125,000 in salaries. It filed for reimbursement from the state at year end for qualifying expenditures from the grant.

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    The City and County of PreVatte received a state grant

    The City and County of PreVatte received a state grant for revitalizing its downtown district. The
    grant of $18,000,000 requires the government to file for reimbursement after incurring qualifying
    expenditures. The state routinely reviews such requests and pays the grantees within 45 days.
    Record the following transactions of the City and County of PreVatte’s Downtown Revitalization
    Special Revenue Fund. Ignore budgetary and subsidiary ledger entries.1. Hired a director of
    downtown revitalization responsible for planning activities and projects designed to improve the
    downtown district. The approved salary was $87,500.2. Paid $3,000,000 to various business
    owners as grants to assist them in refurbishing down-town buildings. 3. Paid the director’s and
    other appropriate employees’ salaries, $125,000.4. Filed for reimbursement from the state at
    year end.View Solution: The City and County of PreVatte received a state grant
    SOLUTION-- http://solutiondone.online/downloads/the-city-and-county-of-prevatte-received-a-
    state-grant/

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