The City created a legally separate Port Authority.Members of the board of the Port Authority are elected in general city elections.The Port Authority receives no tax dollars; it is supported entirely by user fees.The Port Authority determines its budget, sets user fees, and has the power to issue bonded debt.In what manner would the Port Authority be included in the City's Basic Financial Statements?
A)Blended.
B)Discretely presented.
C)Note disclosure only.
D)Not included in any manner.

Question

Quizplus · Accepted Answer

The Answer of The City created a legally separate Port Authority.Members of the board of the Port Authority are elected in general city elections.The Port Authority receives no tax dollars; it is supported entirely by user fees.The Port Authority determines its budget, sets user fees, and has the power to issue bonded debt.In what manner would the Port Authority be included in the City's Basic Financial Statements?
A)Blended.
B)Discretely presented.
C)Note disclosure only.
D)Not included in any manner.

The City Created a Legally Separate Port Authority