$1,000,000 of General Fund cash was contributed to provide permanent capital for a newly established municipal landfill Enterprise Fund. This transaction is an example of an interfund

Question

Quizplus · Accepted Answer

This transaction is an example of an interfund transfer, which is the movement of money from one fund to another within the same governmental entity. In this case, the General Fund is transferring $1,000,000 to the newly established Enterprise Fund to provide permanent capital.

$1,000,000 of General Fund Cash Was Contributed to Provide Permanent