Question: 1. What are encumbrances? What are the challenges with property tax revenues? What are exchange and nonexchange transactions?
2. What are internal service funds? How are they used?
3. What are enterprise funds? What type of enterprise funds does your town or city have in their financial statements?
4. What are Proprietary funds? What are they used for?
5. Agency and trust funds. Discuss these two fund types - what is found in each of these funds?
6. What is the difference in Permanent funds and Fiduciary funds