Seaview city received a pass-through grant from the state. the money is to be distributed to families who, as determined by the state, are eligible for summer camp scholarships for their children. seaview does not have administrative or direct financial involvement in the program. in which fund should seaview record the grant?

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03-11-2017
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Seaview city received a pass-through grant from the state. the money is to be distributed to families who, as determined by the state, are eligible for summer camp scholarships for their children. seaview does not have administrative or direct financial involvement in the program. in which fund should seaview record the grant?

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talkingturkey talkingturkey · Answer 1 · 2017-11-15T06:50:09+01:00

talkingturkey talkingturkey

15-11-2017

Seaview should record the grant under AGENCY FUND.

Seaview serves as an agent of the State since it will most likely be the company that will process the eligibility of the candidates to become a part of the summer camp scholarship. The funds will not be used in any Seaview operation. The funds will be used according to the specifications of the State.

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