Special revenue fund - voluntary non-exchange transactions

Reference no: EM135857

Special Revenue Fund, Voluntary Non-exchange Transactions

The City of Eldon applied for a competitive grant from the state government for park enhancement such as upgrading hiking trails and bike paths. On 1^st May, 2011, the City was notified that it had been awarded a grant of $200,000 for the program, to be received in two installments on 1^st July, 2011, and July 1, 2012. The grant stipulates that $100,000 is for use in each of the city's fiscal years ending June 30, 2012, and June 30, 2013. Any amounts not expended through FY 2012 will be carried over for use in FY 2013. In FY 2012, the city expended $90,000 for park improvements from grant resources.

Reference no: EM135857

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