Churchville County is trustee for a multi-government investment pool and has established an investment trust fund.Included in the investment trust fund,for management purposes,are investments in the amount of $15 million from the County's General Fund,$3 million from the County's special revenue funds,and $112 million from other governments.Which of the following would be true?

Question

Quizplus · Accepted Answer

The County would report the $112 million in an investment trust fund, the $15 million in its General Fund, and the $3 million in special revenue funds because these are the amounts that have been invested in the investment trust fund for management purposes. Therefore, the total amount in the investment trust fund for reporting purposes would be $130 million, but it would be broken down into these categories. Option A is incorrect because it only includes the County's General Fund investment. Option B is incorrect because it includes all investments, including those from other governments, which are not part of the County's investment trust fund. Option D is incorrect because a permanent fund is a different type of fund and would not be appropriate for reporting purposes in this scenario.

Churchville County Is Trustee for a Multi-Government Investment Pool and Has