ACG 3501 Lecture Notes - Lecture 2: Asad Ahmad
Document Summary
The general fund transfers in cash in the amount of ,500,000: cpf 3/1/14. Architect fees of 2,000,000 associated with road expansion were paid: cpf 3/31/14. City issued serial bonds of 39,000,000 at 102. City paid electric utility fund 500,000 for wiring costs associated with street lighting. The city received ,500,000 from the saales tax department from penny sales tax collected. The city received its first billing from construction company of ,000,000: cpf 8/15/14. Amount billed less the retainage percentage of 5% was paid to abc construction company: cpf 9/15/14. A grant from the state department of transportation was received. Capital projects fund - cash balance 2014: 9500000, 39,000,000, 1,500,000. Capital projects fund- cash balance 2015. Debt service fund - cash. Calculation: 39,000,000 * 5% * 6/12 = 975,000. Amount due to bondholders for 6 month interest was paid: dsf 1/15/15. Revenues from state department of revenues were receieved: cpf 2/12/15.