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Major Funds

Using a Governmental Agency or Not-for-Profit organization identify what are considered to be its major funds? In what key ways are major funds reported differently than non-major funds?

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As an example, let's take a look at the City of Muscatine, in Lowa. The major funds are listed as: the general fund, employee benefits special revenue fund, the local option sales tax special revenue fund, the debt service fund, the water pollution control fund, the transfer station fund, and the refuse collection fund.

These funds were ...

Solution Summary

This solution discusses governmental agency and/or non-profit agency major funds. The key ways in which major funds are reported and how major funds are different are also discussed.