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Subject Topic: Governmental Accounting (Topic Closed Topic Closed) Post ReplyPost New Topic
  
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Emorizle
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Joined: 07 Jul 2010
Location: United States
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Posts: 15
Posted: 07 Jul 2010 at 14:48 | IP Logged  

Can someone explain to me how Capital project fund is different from
Special Revenue Fund. I am a bit confused.

Capital Project receives money through Other Financing Sources and Capital
Grants

Special Revenue Fund receives revenue from Grants, and special taxes
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tetsuwangatomu
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Joined: 08 Oct 2010
Location: United States
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Posts: 133
Posted: 31 Oct 2010 at 04:54 | IP Logged  

Special Revenue Funds account for revenues from specific taxes or other earmarked sources that are designated to finance particular activities of Government. Special Revenue Funds. These are funds used to finance particular activities from the receipts of specific taxes or other revenue. Such a fund is created by constitution or statute to provide certain activities with definite and continuing revenues. After the fund is created, it usually continues year after year until discontinued or revised by equivalent authority. Accounting transactions are treated the same as they are in the General Fund.

Capital Projects funds account for resources used for the acquisition or construction of major capital assets by a government unit.

Examples of Capital Project Funds Include:

Roadway Improvements - One of the most common capital project types in cities is the improvement of roadways.  This includes rebuilds, intersection improvements, "overlaying" the existing asphalt and other similar projects.  These often include grant funds in their revenues which makes it even more important to keep them separate.

Building Construction / Renovation - Another common type is the building of new facilities or renovation of existing ones.  City hall, park buildings, shops and other public buildings constitute a capital project.

Park Improvements - It is amazing how expensive it is to get good drainage at a park (remember, this is the finance director talking, not the parks director).  The cost of park projects, like drainage improvements, ball field improvements, playgrounds and others are capital projects.



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