The purpose of an encumbrance is to: a. amend the budgeted appropriations. b. assist the administration to avoid overspending and plan for payment of expected liabilities c. record liabilities that will be paid beyond the period where funds are currently available. d. None of the above

Which of the following goals is accomplished when an audit process occurs at the end of the budget year? Select all that apply.   Preventing fraud and waste   Ensuring the accuracy of operation   Ensuring compliance with policies and applicable laws   Interviewing and hiring budget personnel for the next budget year

1. Briefly describe the two types of financial statements that government are required to issue under GASB 34 2. Why do governments make a journal entry to record the budget?

am. 282.