P 20-3 Governmental fund journal entries, budgetary comparison, and reconciling items The Town of Tyler approved the following general fund budget for the fiscal year July 1, 2016, to June 30, 2017:

TOWN OF TYLER GENERAL FUND BUDGET SUMMARY FOR THE YEAR JULY 1, 2016 TO JUNE 30, 2017 Revenue Sources Taxes $250,000 Licenses and permits 20,000 Intergovernmental revenue 40,000 Charges for services 60,000 Fines and forfeits 15,000 Rents and royalties 10,000 Miscellaneous revenues 5,000 Total budgeted revenues $400,000

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706 CHAPTER 20 TOWN OF TYLER GENERAL FUND BUDGET SUMMARY FOR THE YEAR JULY 1, 2016 TO JUNE 30, 2017 Expenditures Current services General government $45,000 Public safety 140,000 Highways and streets 90,000 Sanitation 55,000 Health and welfare 20,000 Recreation 30,000 Capital outlays 15,000 Total appropriations $395,000 Budgeted increase in fund balance $5,000 The after-closing trial balance of the Town of Tyler general fund at June 30, 2016, shows the following ledger account balances:

Debits Cash $31,000 Tax receivable—delinquent 15,000 Accounts receivable 3,000 Supplies inventory 6,000 Total debits $55,000 Credits Allowances for uncollectible taxes—delinquent $1,000 Vouchers payable 14,000 Note payable (short-term) 15,000 Fund balance—committed 9,000 Fund balance—nonspendable 6,000 Fund balance—unassigned 10,000 Total credits $55,000