The indiana real estate recovery fund has a balance in excess of $750,000 at the end of the state’s fiscal year. the amount in the fund in excess of $750,000 will be paid to the?

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27-07-2022
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The indiana real estate recovery fund has a balance in excess of $750,000 at the end of the state’s fiscal year. the amount in the fund in excess of $750,000 will be paid to the?

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choprayogita110 choprayogita110 · Answer 1 · 2022-08-04T09:28:59+02:00

The Indiana real estate recovery fund has a balance in excess of $750,000 at the end of the state’s fiscal year. the amount in the fund in excess of $750,000 will be paid to the Indiana state general fund.

NASBO defines a general fund as "the main source of funding for a state's operations. State taxes with a broad base of application generate revenue." Sales taxes, corporate income taxes, and personal income taxes are the three main sources of funding for the general budget.

The main fund a government entity uses is a general fund. All resource inflows and outflows that aren't connected to special-purpose funds are tracked in this fund. The primary administrative and operational responsibilities of the government body are represented by the expenditures made from the general fund.

Learn more about general fund here

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