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Subject Topic: GOVERNMENTAL FUND (Topic Closed Topic Closed) Post ReplyPost New Topic
  
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happy3001
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Posted: 28 Oct 2011 at 18:28 | IP Logged  

The Governmental funds' Statement of Revenues, Expenditures, and Changes in Fund Balance. for example:

REVENUE
Intergovernmental
Interest earnings
Total revenues
EXPENDITURES
Current:
Culture and recreation
Total expenditures
Excess (deficiency) of revenues over expenditures
OTHER FINANCING SOURCES (USES)
Transfers out
Total other financing sources and uses
Net change in fund balances
Fund balances - beginning
Fund balances - ending

I got confused about Intergovernmental and transfers in/out, what's the difference? they are both transfers between different governmental fund. Some one can help me? Thanks a lot.

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happy3001
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Posted: 30 Oct 2011 at 19:38 | IP Logged  

someone can help, please.          ;           ;
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chatterr
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Posted: 30 Oct 2011 at 21:17 | IP Logged  

I was just looking at the Statement of Revenues, Expenditures, and changes in fund balance. I don't even see the Intergovermental category in my book. This is the first time I am seeing it.

Is this statement from the Becker book?

I know what transfer in and transfer out is. If you want me to explain these terms, I can do so.

Let me know.
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chatterr
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Posted: 31 Oct 2011 at 18:20 | IP Logged  

I think they are using the word "intergovernmental" to describe inter-fund  transactions. Inter-fund transactions are transactions that take place between different governmental funds. These transactions can be

a) Operating transfers- These are the transfer in and transfer out transactions
b) Quasi-external transactions
c) Reimbursements
d) Loans

So basically to answer your question, transfer in and transfer out are types of intergovernmental or inter-fund transactions.
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happy3001
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Posted: 31 Oct 2011 at 21:09 | IP Logged  

Hi, Chatterr

Thanks a lot for your answer. That is a example from becker F8 page 35. I still don't understand when I prepare a statement, how do I recognize the  inter-fund transactions, under revenue or under other resouces.

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