Problem:
An important aspect of governmental accounting is how large projects such as buildings, infrastructure (roads, airports, sidewalks, etc.), and large equipment is purchased and built. Use the following reference: A Place Called Home (https://www.apch.org/).
Identify the capital projects funds and discuss why these funds were created.
Find a debt service fund and discuss how is this fund being used.
What is inter-period equity?
How does inter-period equity affect capital project and debt services funds?