A budgetary fund is an income account and thus a debit balance suggests a deficit on the fund account. This means that governing bodies of City of Goodville have spent more money in their expenditures than they have brought in as income from the fund. This will be recorded as a liability in the balance sheet. Where as a credit balance would be a surplus and recorded as an asset.
I will be most likely to approach him later, when I know that he will give me a listening ear and politely explain to him the more efficient method to completing the task. Try to counter his approach on the spot is what I’ll least likely do because that could come off as being rude.
