Harvey City Comprehensive Case

Alvin Smith

ACCT 410

November 30, 2014

Professor Rodney Jean-Baptiste

Harvey City Comprehensive Case

Fiduciary funds are not always the responsible to employees who participate in retirement plans administrated by other governments. These are not reported on the financial statements because the government does not manage them. Assets held in a trust or agency relationship for the benefit of the government's own programs are accounted for in other funds. If such resources are available for expenditure for a specific government program or purpose, they are reported in Special Revenue Fund (Freeman, Shoulders, Allison, & Smith, Jr., 2012).

Fiduciary funds that are received and used in significant amounts, which a government receives and holds in a trust...