Maurice Tutor

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About Maurice Tutor

Levels Tought:
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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 3 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 04 Aug 2017 My Price 9.00

Local school district

Your Local school district receives a grant from the federal government to support programs directed at special needs students. The grant is a matching grant in which each dollar spent by the school district on teacher salaries for special needs education will be matched up to $2 million by the federal government. The federal government agrees that it will advance monies to the school district so that the school district will be able to pay a portion each month of teachers’ salaries from federal funds. The grant’s contractual terms stipulate that the school district must not commingle the federal monies that it has been advanced with other monies of the school district. The school district also is required to ?le quarterly and annual reports showing the amounts that the school district has spent on special needs education and the resultant amount that is either a receivable from or payable to the federal government.
As a new comptroller (yes that’s right you live in the district a requirement of the position), you must decide which funds should be used to account for the federal grant and the school district match. After some research, you believe that the school district has some options as to the governmental funds that it will use for ?nancial reporting purposes.

  • What are the options? In which funds would you report the transactions associated with the federal grant and school district match?
  • Should they be accounted for in the same fund?
  • What factors in?uenced your decision?

Answers

Maurice Tutor
(5)
Status NEW Posted 04 Aug 2017 01:08 AM My Price 9.00

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