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Interfund activity, nonexchange revenue and expenditures

BAR Chapter 26 · Area III · Blueprint III.C.5–7

Money moves between a city's own funds all year, and most of what a city earns is not earned at all in the business sense: taxes, fines and grants come without anything given back in exchange. The Blueprint asks you to record interfund activity and its eliminations, calculate nonexchange revenue on both the accrual and modified accrual bases with journal entries, and calculate expenditures under modified accrual. Leo spends a month on Riverton's revenue desk.

In this chapter

1. The four kinds of interfund activity
2. Interfund activity in the government-wide statements
3. Nonexchange revenue on the accrual basis
4. Nonexchange revenue under modified accrual
5. Expenditures versus expenses

This chapter has 5 lessons, 50 practice MCQs with explanations and 12 simulations, plus flashcards and a recall sheet.

What this chapter covers

• Transfers and eliminations
• property taxes and grants under each basis
• expenditures versus expenses

Chapter 25: Capital assets and long-term liabilities · Chapter 27: Budgetary accounting and encumbrances