The Board of Commissioners took formal action to dedicate resources for a particular project in the Capital Projects Fund. Those resources cannot be redirected for another use unless an equivalent formal action is taken. As of the end of the fiscal year, a portion of these resources remain in fund balance. The proper fund balance classification for these resources would be

Question

Quizplus · Accepted Answer

The resources were formally committed by the Board of Commissioners for a particular project and as such, they cannot be redirected without an equivalent formal action. Therefore, the proper fund balance classification for these resources would be "committed."

The Board of Commissioners Took Formal Action to Dedicate Resources