Answer to Question #176004 in Accounting for Milan

Question

Other Financing Sources/uses = GRSPP Funds

Other Financing Sources/uses = Proprietary Funds

Is this statement correct? Can you please correct it for me if it needs to be?

Answer 1

Other financing sources /uses include a limited number of special transactions that are used to account for non-operating revenues/receipts and expenditures/disbursements.

Proprietary Funds is used in governmental accounting to account for activities financed primarily by revenues generated by the activities within the government or outside of it.

GRaSPP funds is part of governmental funds.