The city's governing body gives the city's finance director the authority to set aside "excess" amounts in the General Fund to provide funds to build a new fire station.The finance director sets aside $200,000 for that purpose during the current fiscal year.This should be reported as part of:

Question

Quizplus · Accepted Answer

The $200,000 set aside by the finance director is designated for a specific purpose (building a new fire station) and therefore should be reported as part of the assigned fund balance.

The City's Governing Body Gives the City's Finance Director the Authority