developed by susan m. moncada, ph.d., cpa indiana state university april 2012 1
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1
The Fund Identification ChallengeDeveloped by Susan M. Moncada, Ph.D., CPA
Indiana State UniversityApril 2012
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Purpose & ObjectivesFor each activity described, identify the specific governmental, proprietary, or fiduciary fund that would account for it.
Governmental Funds
General Special Revenue Capital Project Debt Service Permanent
Proprietary Funds
Enterprise Internal Service
Fiduciary Funds
Pension Trust Investment Trust Private Purpose Trust AgencyDr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
3
Playing Instructions:1. Once the game board is displayed, only
click on the following shapes:
Display a game question
or with character’s response
Display the X marker
Display the O marker
Return to the game board
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
Clicking on other areas will cause the game to malfunction.
Agree
Disagree
4
Playing Instructions:1. Click on a question
2. Click either agree or disagree with the character’s response. A correct response earns the square.
3. Click on the to display the “X” marker.
4. Click on the to display the “O” marker.
5. First team to earn 3 markers in a row wins.
Note: Once the “O” is displayed the “X” cannot be displayed.
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
Agree
Disagree
Game Slide
X X X
X X X
X X X
O O
O O O
O O O
O
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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Feedback Response All
AgreesCongratulations, you’ve won the
square!
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
7
Madison Agree is Incorrect Feedback
President Madison’s answer is Incorrect, the Correct
Answer is:
Enterprise Fund
Congratulations, you’ve won the square!
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
8
Madison Agree is correct.
Sorry, President Madison’s answer is
Correct!
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
9
Madison Agree is Incorrect Feedback
Sorry, President Madison’s answer is incorrect.The correct answer is:
Enterprise Fund
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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MadisonQuestion 1
Which fund accounts for the revenues generated by a state operated toll road?
Agree Disagree
A Special Revenue Fund
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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Madison Question 2
What fund would account for paying the Mayor’s salary?
DisagreeAgree
General Fund
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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Madison Question 3
Which fund would account for paying for materials to renovate city hall?
Disagree Agree
Capital Project Fund
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
13
Lincoln Agree is correct.
Sorry, President Lincoln’s answer
is Correct!
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
14
Feedback Response – Lincoln Disagree
President Lincoln’s answer is incorrect.
The correct answer is….
Investment Trust
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
15
Lincoln Question 3 Incorrect Feedback
President Lincoln’s answer is incorrect.The correct answer is:
Investment Trust
Congratulations, you’ve won the square!
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
16
Lincoln Question 1
Which fund would account for the payment of interest due on bonds sold to finance the renovation of the county courthouse?
Disagree Agree
Debt Service Fund
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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Lincoln Question 2
Which fund would account for a city operated water utility?
Disagree Agree
Enterprise Fund
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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Lincoln Question 3
Agree Disagree
Pension Trust
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
Which fund would manage the buying and selling of financial instruments in order to maximize additions to the equity of a Public School System’s Retirement Fund?
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Feedback Response – President Jefferson 1
President Jefferson’s answer is incorrect, the correct
answer is….
Internal Service Fund
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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Jefferson Incorrect Feedback Q1Internal Service Fund
Congratulations, you’ve won the square!
President Jefferson’s answer is incorrect, the Correct Answer is:
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
21
Jefferson Agree is correct.Sorry,
President Jefferson’s answer
is Correct!
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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President Jefferson Question 1
Which fund would account for the operation and charges for services City owned vehicles?
Agree Disagree
Capital Project Fund
© Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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President Jefferson Question 2
Disagree Agree
Capital Project Fund
Which fund accounts for the costs related to efforts to create a Performing Arts Center?
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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President Jefferson Question 3
Disagree Agree
Permanent Fund
Which fund accounts for the non-spendable principal from contributions for maintenance of statues and monuments for the use and enjoyment of City residents?
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
25
President Roosevelt Agree is correct.
Sorry, President Roosevelt’s
answer is Correct!
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
26
Feedback Response – President Roosevelt 3
President Roosevelt’s answer is incorrect, the correct answer is….
Capital Project Fund
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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President Roosevelt Incorrect Feedback Q3Capital Project Fund
Congratulations, you’ve won the square!
President Roosevelt’s answer is incorrect, the correct answer is:
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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President Roosevelt Question 1
Disagree Agree
Agency Fund
Which fund would a public high school use to account for cash held for various clubs from their individual fund raising activities?
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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President Roosevelt
Question 2
Disagree Agree
Pension Trust
Which fund accounts for a retirement benefit plan for City police officers?
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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President Roosevelt Question
3
Agree Disagree
Special Revenue Fund
Which fund accounts for the costs related to the City’s improvement program to create more open spaces and parks?
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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President Reagan’s Disagree 2
Sorry, President Reagan’s answer is incorrect, the correct answer is….
Enterprise Fund
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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Hemione Incorrect Feedback Q2Enterprise Fund
Congratulations, you’ve won the square!
President Reagan’s answer is incorrect, the correct answer is:
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
33
President Reagan Agree is
correct.
Sorry,President Reagan’s answer is correct!
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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President Reagan Question 1
Disagree Agree
Internal Service Fund
Which fund accounts for a City labor pool of employees who are used to supplement existing City staff?
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
35
President Reagan Question 2
Agree Disagree
Special Revenue Fund
Which fund would account for the operation of a performing arts arena?
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
36
President Reagan Question 3
Disagree Agree
Agency Fund
Which fund accounts for the assets of inmates and residents in State institutions?
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
37
President Washington Agree is correct.
Sorry,President
Washington’s answer
is Correct!
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
38
President Washington Incorrect Feedback Q2Permanent Fund
Congratulations, you’ve won the square!
President Washington’s answer is incorrect, the correct answer is:
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
39
President Washington’s
Disagree 2
Sorry, President Washington’s answer is incorrect, the correct answer is….
Permanent Fund
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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President Washington Question 1
Disagree Agree
Debt Service Fund
Which fund accounts for retiring long-term debt issued when city hall was renovated?
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
41
President Washington Question 2
Agree Disagree
Private Purpose Trust
Which Fund accounts for an endowment or trust to support libraries and parks?
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
42
President Washington Question 3
Which fund accounts for collecting property taxes for each municipality in the county?
Disagree Agree
Agency Fund
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
43
President Bush’s Disagree 1
Sorry, President Bush’s answer is incorrect, the correct answer is….
Pension Trust
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
44
President Bush’s Disagree 2
Sorry, President Bush’s answer is incorrect, the correct answer is….
Enterprise Fund
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
45
President Bush Incorrect Feedback Q1Pension Trust
Congratulations, you’ve won the square!
President Bush’s answer is incorrect, the correct answer is:
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
46
President Bush Incorrect Feedback Q2Enterprise Fund
Congratulations, you’ve won the square!
President Bush’s answer is incorrect, The correct answer is:
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
47
President Bush Agree is correct.
Sorry, President
Bush’s answer is Correct!
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
48
President Bush Question 1
Which fund accounts for accumulated sick leave pay?
Agree Disagree
Agency Fund
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
49
President Bush Question 2
Which fund accounts for the long-term debt issued by a city’s transit authority?
Agree Disagree
Debt Service Fund
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
50
President Bush Question 3
Disagree Agree
Enterprise Fund
Which fund accounts for a County Seaport Authority?
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
51
President Clinton’s Disagree 3
Sorry, President Clinton’s answer is incorrect, the correct answer is….
General Fund
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
52
President Clinton’s Disagree 2
Sorry, President Clinton’s answer is incorrect, the correct answer is….
Internal Service Fund
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
53
Clinton Agree is correct.
Sorry, President Clinton’s answer is Correct!
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
54
President Clinton Incorrect Feedback Q2Internal Service Fund
Congratulations, you’ve won the square!
President Clinton’s answer is incorrect, the correct answer is:
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
55
President Clinton Incorrect Feedback Q3General Fund
Congratulations, you’ve won the square!
President Clinton’s answer is incorrect, the correct answer is:
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
56
President Clinton Question 1
Which fund accounts for federal grants received for housing and urban development for low-income families in the city?
Disagree Agree
Special Revenue Fund
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
57
President Clinton Question 2
A Duplicating Fund which accounts for printing, design, and mail services used by city departments and agencies is what type of fund?
Agree Disagree
Special Revenue Fund
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
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President Clinton Question 3
Which fund accounts for levying property taxes?
Agree Disagree
Agency Fund
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
59
Wilson Question 1
Which fund accounts for property tax revenues and earnings designated exclusively for the city’s public library services?
Agree Disagree
Enterprise Fund
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
60
Wilson Question 2
Which fund accounts for a $2M contribution of which only the earnings can be spent to provide educational scholarships for the children of deceased firefighters?
Disagree Agree
Private Purpose Trust
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
61
Wilson Question 3
Which fund accounts for a municipality’s typical public health and human services activities?
Agree Disagree
Special Revenue Fund
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
62
Wilson Agree is correct.
Sorry, President
Wilson’s answer is Correct!
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
63
Wilson’s Disagree 1
Sorry, President Wilson’s answer is incorrect, the correct answer is….Special Revenue
Fund
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
64
Wilson’s Disagree 3
Sorry, President Wilson’s answer is incorrect, the correct answer is….
General Fund
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
65
Wilson Incorrect Feedback Q1Special Revenue Fund
Congratulations, you’ve won the square!
President Wilson’s answer is incorrect, the correct answer is:
©Dr. Susan M. Moncada, Ph.D., CPA - Indiana State University - 2012
66
Wilson Incorrect Feedback Q3
General Fund
Congratulations, you’ve won the square!
President Wilson’s answer is incorrect, the correct answer is:
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