Building Maintenance Fund. The balance sheet and statement of revenues, expenditures. and changes in fund balance for the Building Maintenance Fund, an internal service fund of Coastal City, are reproduced here. No further information about the nature or purposes of this fund is given in the annual report.
a. Assuming that the Building Maintenance Fund is an internal service fund, discuss whether the financial information is presented in accordance with GASB standards.
b. If you were the manager of a city department that uses the services of the Building Maintenance Fund, what would you want to know in addition to the information disclosed in the financialstatements?