The City of Bacon holds cash of \($820,000\) that was received from the issuance of a bond and, according to the contract, must be spent for the construction of a new elementary school. The city also has \($60,000\) in supplies. How should the fund balance be reported?

a. Restricted—$880,000

b. Nonspendable—\($60,000\) and restricted—$820,000

c. Nonspendable—\($60,000\) and committed—$820,000

d. Nonspendable—\($60,000\) and assigned—$820,000