The general ledger account balances in the general fund of the New Douglas School District as of July 1, XXXX, were as follows:

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Cash in bank Investments Accounts payable Contracts payable Unreserved fund balance $200,000 150,000 85,000 45,000 220,000 The New Douglas School District adopted the following budget for the general fund at the beginning of the fiscal year: Estimated revenues 1000 From local sources: 1110 Ad valorem taxes $45,000 1300 Tuition 23,000 1500 Earnings on investments 42,000 $110,000 3000 From state sources: 3100 Unrestricted grants-in-aid 68,000 3800 Revenue in lieu of taxes 27,000 $95,000 $205,000 Budgeted expenditures 110 Regular salaries 85,000 210 Group insurance 11,000 610 General supplies 32,000