Maxim county just completed construction of a new town hall to be used for its governmental offices. the employees have moved in and the new building is officially in use. the county used a capital projects fund to account for the construction of the building, and the building came in under budget. there is a fund balance of $12,000. the county should: a. transfer the remaining funds to the general fund to pay operating expenses. b. transfer the remaining funds to the debt service fund which will be handling the long-term debt incurred for the construction of the building. c. return the excess to the source of the restricted funding. d. all of the above may be appropriate ways to treat the fund balance.

The answers are:

B) Transfer the remaining funds to the debt service fund which will be handling the long-term debt incurred for the construction of the building.

C) Return the excess to the source of the restricted funding.

Explanation:

The fund balance of $12,000, means that the money left over was $12,000. When a government entity's project has a left over or excess, called surplus, it must first return it to the debt service fund.

At the end of the construction project if any money is left over, it must be returned to the source of the restricted funding.  

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.