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Property tax revenues recognized in the governmental fund operating statements often differ from the amount...

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Accounting

Property tax revenues recognized in the governmental fund operating statements often differ from the amount recognized in the government-wide statement of activities, because

  • Property tax revenues are not recorded in the government-wide statements.

  • Availability to finance current expenditures is not a revenue recognition criterion under the accrual basis used at the government-wide level.

  • Bad debt expense is recognized at the government-wide level.

  • GASB standards preclude full recognition of property tax revenues in governmental funds.

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