A redemption of the final serial of general obligation bonds, including a deficiency covered by the general fund, would affect which funds and/or account groups?

Question

Quizplus · Accepted Answer

Redemption of general obligation bonds would affect the General Fund as it is responsible for making the payments on the bonds. The Debt Service Fund would also be affected as its purpose is to account for the resources used to make the debt service payments. Lastly, the General Long-Term Debt Account Group would also be affected as it is responsible for tracking the city's long-term debt. The redemption would not affect the Capital Projects Fund or the Agency Fund.

A Redemption of the Final Serial of General Obligation Bonds