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What is a capital project fund under GASB?

The Capital Projects fund is a governmental fund that is used for tracking the financial resources used to acquire or construct major capital assets. The capital project fund accounts for and reports financial resources that are legally restricted and contractually required for the acquisition of capital assets.

The primary purpose of this fund is to ensure that expenditures of capital projects are receiving legally required capital resources.

Some examples include public buildings, bridges, roads and highways, park improvements, and sewer systems.

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