The fixed assets and long-term liabilities associated with Proprietary Funds are reported on the

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Proprietary funds are used to account for operations that are similar to those found in the private sector, and their financial statements are prepared using accrual accounting rather than modified accrual accounting used by governmental funds. Therefore, the fixed assets and long-term liabilities associated with proprietary funds are reported on the financial statements of proprietary funds.

The Fixed Assets and Long-Term Liabilities Associated with Proprietary Funds