Final answer:
Interest earned on investments would not appear in a statement of revenues, expenditures, and changes in fund balances prepared for a governmental fund.
Step-by-step explanation:
The item that would not appear in a statement of revenues, expenditures, and changes in fund balances prepared for a governmental fund is d. Interest earned on investments.
In a statement of revenues, expenditures, and changes in fund balances, the focus is on the sources of revenue and the expenditures made by the governmental fund. Interest earned on investments does not fall under the category of revenue or expenditure, as it represents the earning from investments made by the government.
The other options, such as property taxes, sales taxes, proceeds from the issuance of long-term debt, and grants from the federal government, are all examples of revenue sources that would appear in a statement of revenues, expenditures, and changes in fund balances.