If the Jeter Village council adopts the budget as submitted, prepare the journal entry to record the adopted budget.

Using your answers from the preceding problem and the following information, prepare a budget summary for the General Fund of Jeter Village for fiscal year 2013. Assume that the fund balance at the beginning of 2013 is $2,607,241.

1. The Village has three departments: Public Safety, Administration, Streets and Parkways.

2. Budgeted appropriations for the three departments for fiscal year 2013 are as follows: 

 3. Budgeted nondepartmental items include a $1 million transfer to the Debt Service Fund and a $50,000 transfer to the Derek Park Fund.

Transcribed Image Text:

Public Safety $1,115,000 10,000 Streets and Parkways $1,846,285 1,850 80,900 36,450 Administration Personal services $1,450,000 Travel Equipment Operating expenses 650,000 85,000 20,000 100,000 60,000