Difference between an expense and an expenditure

1- Describe the element of the local government general fund- i.e., what revenues go in, and how is it decided where these revenues go- and compare these general fund element with the elements of the typical enterprise fund agency.

2- Describe the difference between an expense and an expenditure, and describe the implications of the focus of the typical public sector budget process on the latter rather than the former.

3- Summarize the strengths and weakness of using general obligation bonds, revenue bonds, and a pay-as-you-go system to fund capital project.

Please respond for each question with no more than two pages essay. Your responses should be cogent, comprehensive and concise.
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