21.Bond refunding is repurchasing bonds from bondholders using residual money left over after a capital project has been completed.
22.The principal of permanent funds must be classified as Restricted Fund Balance.
23.The portion of a permanent fund which is spendable should be reported as Unassigned Fund Balance.
24.When bonds are sold to construct a capital asset through a capital projects fund, an entry would be made to debit Cash and credit Bonds Payable in the capital projects fund.
25.Capital projects funds use the financial resources measurement focus and accrual basis of accounting.
26.Capital projects funds are always included in the Budgetary Comparison Schedule.
27.When governments construct projects that are financed with special assessment debt, to be paid back by affected property owners, those projects could be accounted for in capital projects funds.
28.Debt service funds are used to account for the payment of principal and interest of both general and enterprise related long-term debt of a state or local governmental unit.
29.When accounting for interest expenditures through debt service funds, interest is required to be accrued at year-end.
30.Interest revenues should be accrued at year-end on investments held by a permanent fund.