How should revenues used to secure debt be reported in the proprietary fund statement?

In proprietary fund statements, there is a focus on how different types of revenues are reported, especially when those revenues are pledged as collateral for debts. In this context, when all revenues of a proprietary fund are pledged to secure debt, there is no specific requirement for a special identification of those revenues. Consequently, the practice allows for a blended reporting of such revenues without requiring them to be shown separately from other revenue sources.

Additionally, when different sources of pledged revenues are involved, there is also no requirement to report them separately. This lack of specific reporting obligations extends to different types of revenues that may be dedicated to debt service under the proprietary fund framework.

Thus, recognizing that no special identification is mandated when all revenues are pledged, nor is there a requirement to differentiate between various sources of pledged revenues, the conclusion that both statements hold true represents an accurate understanding of the reporting criteria established for proprietary fund financial statements.