Determine funds based on purely assests

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Reference no: EM13155645

The City of Faberville is evaluating which of its funds it will present as a major fund in its fund financial statements at Dec. 31 Yr. 1. The city presents the following partial listing of asset data a Dec 31, yr 1

-Total Government Fund ype assest $3,000,000
-Total Enterprise fund assets $2,000,000
-General Fund assets $280,000
-Community Development special revenue fund $290,000
-Sales Tax Special Revenue Fund $350,000
-General Revenue bonds debt service fund $120,000
-Faberville River bridge capital project fund $1,500,000
-Faberville Water & Sewer utility fund $1,800,000
-Faberville landfill

Based purely on assets, how many funds should be displayed as major funds?

Reference no: EM13155645

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