Paying for them out of general revenues

Reference no: EM13841481

Analyze, explain or describe what you are doing as though you are presenting your work to a CEO, CFO or Board.

The Lewinston School District receives a $200,000 grant from the Bates Foundation to upgrade its high school computer labs. Total cost of the upgrade is estimated at $450,000. Because the grant is restricted, it accounts for the grant in a special revenue fund. During the year the District incurs $225,000 in upgrade costs, paying for them out of general revenues. Can the district continue to report the $200,000 received from the foundation as restricted resources?

Reference no: EM13841481

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Paying for them out of general revenues : The Lewinston School District receives a $200,000 grant from the Bates Foundation to upgrade its high school computer labs. Total cost of the upgrade is estimated at $450,000. Because the grant is restricted, it accounts for the grant in a special ..

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