The following General Fund information is available for the preparation of the financial statements for the City of Eastern Shor

Question

3 years ago

13

The following General Fund information is available for the preparation of the financial statements for the City of Eastern Shor

es for the year ended September 30, 2017:
Revenues:
Property taxes $ 27,025,000
Sales taxes 13,323,000
Fees and fines 1,332,000
Licenses and permits 1,730,000
Intergovernmental 2,375,000
Investment earnings 661,000
Expenditures:
Current:
General government 11,731,000
Public safety 24,451,000
Public works 6,219,000
Health and sanitation 1,171,000
Culture and recreation 2,163,000
Transfer to capital project fund 1,127,000
Special item—proceeds from sale of land 831,000
Fund balance, October 1, 2016 1,819,000
From the information given above, prepare a General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances for the City of Eastern Shores General Fund for the year ended September 30, 2017. (Deductions should be entered with a minus sign.)

Business

1 answer:

faltersainse [42] · Answer 1 · 2022-05-21T05:22:38+03:00

Answer:

City of Eastern Shores

General Fund Statement of Revenues, Expenditures and

Changes in Fund Balances for the year ended

September 30, 2017.

Particulars Amount($) Amount($)

Revenues

Property Taxes 27,025,000

Sales Taxes 13,323,000

Fees and Fines 1,332,000

Licenses and Permits 1,730,000

Inter Governmental 2,375,000

Investment Earnings 661,000

Total Revenues $46,446,000 $46,446,000

Expenditures

Current

General Government 11,731,000

Public Safety 24.451,000

Public Works 6,219,000

Health and Sanitation 1,171,000

Culture and Recreation 2,163,000

Total Expenditures $45,735,000 - $45,735,000

Excess of Revenue over Expenditure $711,000

Less : Transfer to capital project fund -$1,127,000

Add : Special Item - Proceeds from Sale of Land $831,000

Net Change in Fund Balance $415,000

Add : Fund Balance, Oct. 1, 2017 $1,819,000

Fund Balance, Sep. 30, 2017 $2,234,000