The following are names of funds encountered in

governmental reports
The following are names of funds encountered in governmental reports and the purposes for
which these funds have been established. Indicate the corresponding fund type recommended
by the Governmental Accounting Standards Board. For example, the School Fund in (a) would
be a Special Revenue Fund.a. School Fund (to account for special taxes levied by a county to
finance the operation of schools).b. Bond Redemption Fund (to account for taxes and other
revenues to be used in retiring bonds).c. Bridge Construction Fund (to account for the proceeds
from the sale of bonds).d. Park Fund (to account for special taxes levied to finance the
operation of parks).e. Interdepartmental Printing Shop Fund (to account for revenues received
from departments for printing done for them by the interdepartmental printing shop).f. City Bus
Line Fund (to account for revenues received from the public for transportation services).g.
Money Collected for the State Fund (to account for money collected as agent for the state).h.
Operating Fund (to account for unrestricted revenues not related to any other fund).i. Electric
Fund (to account for revenues received from the sale of electricity to the public).j. Federal Fund
(to account for federal construction grant proceeds).k. Bond Redemption Fund (to account for
cash and investments that are to be used to repay outstanding bonds).l. School Endowment
Fund (to account for contributions that cannot be expended but are to be invested to generate
earnings to be used for special school programs).m. Bond Proceeds Fund (to account for
proceeds of bonds issued to finance street construction).n. Employees’ Pension and Relief
Fund (to provide retirement and disability benefits to employees).View Solution: The following
are names of funds encountered in governmental reports
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