The county received a $1,500,000 restricted grant from the state government to be used to improve its public safety department's communication systems. The county has met all eligibility requirements of the grant. In the current year, the General Fund should report this grant as

Question

Quizplus · Accepted Answer

The grant is a restricted revenue that the county received this year, and it meets eligibility requirements. Therefore, it should be recognized as revenues in the General Fund.

The County Received a $1,500,000 Restricted Grant from the State