Regarding the flow of funds set forth in a municipal bond contract, collected monies would first be deposited to the?

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24-08-2022
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Regarding the flow of funds set forth in a municipal bond contract, collected monies would first be deposited to the?

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qwseagreen qwseagreen · Answer 1 · 2022-09-01T16:38:49+02:00

Regarding the flow of funds set forth in a municipal bond contract, collected monies would first be deposited to the Revenue Fund.

Special Revenue Funds account for income from certain revenue sources (other than trusts for individuals, private organizations, or other governments or for major capital projects) that are restricted or committed to spending for specified purposes.

A special revenue fund is a fund used in a government entity to record revenue from certain revenue sources for which the use of the fund is restricted. The use of special revenue funds makes it easier to track cash inflows and outflows related to special purpose activities. They are particularly useful for maintaining accountability for specifically allocated funds. The government may require reporting of cash inflows and outflows associated with special revenue funds.

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