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Finance Units

STATE FINANCE STUDY--PART 1

Where does the money come from to fill the State's wallet? Do you really know? Test your knowledge with the following quiz. Questions answered in Leo Hana coming soon.

Bring your copy of Leo Hana to your February unit meeting.

QUIZ QUESTIONS

  1. What is the difference between the General Fund and a Special Fund?

  2. What percent of the State's combined receipts comes from federal grants-in-aid?

  3. Is a county empowered to adapt an ordinance providing for a county sales tax?

  4. How much revenue does the State get from the real property tax?

  5. How much revenue per gallon does the State get from the gasoline you buy for your automobile?

  6. What is the top rate of personal income tax?

  7. The State gives a special tax credit to renters. Can you suggest a reason why this should be done?

  8. What unique feature does real property tax administration have in Hawaii?

  9. What does "highest and best use" mean in connection with the real property tax?

  10. Who is responsible for seeking federal grants-in-aid?

  11. Does the legislature pass on federal aid programs?

  12. Do you know the difference between General Revenue Sharing and Special Revenue Sharing?

  13. Can you name three types of non-tax income generated by departmental operations?

  14. What is the difference between a general obligation bond and a revenue bond?

  15. Can you name two types of facilities that may be financed by revenue bonds?

  16. Are all general obligation bonds paid solely out of tax revenues?

  17. What authorization is required in order to issue State bonds?

  18. Within what period after authorization are bonds issued?

  19. Who is responsible for developing a proposed financial plan for the State?

  20. What does the Department of Planning and Economic Development have to do with State revenues?


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