3. The following information is provided about the village of "S" General Fund Operating Statement and budgetary accounts for the fiscal year ended June 30, 2019: (OMR) Estimated revenues 1,575,000 Revenues 1,595,000 Appropriations 1,592,500 Expenditures 1,587,500 Fund balance (beginning of the year) 300,000 Budgetary fund balance after FY 2019 Budget was recorded) (17,500) Required: a. Did the village "S" engage in imprudent budgeting practices by authorizing a greater amount of expenditures than revenues estimated for the year, or potentially violate village or state balance budget (1 mark) b. Calculate the end-of-year balances for the fund Balance and Budgetary Fund Balance accounts that would be reported on the village's balance sheet prepared as of June 30, 2019. Show all necessary work. (1 mark) 4. The City of 'T' collects its annual property taxes late in its fiscal year. Consequently, each year it must finance part of its operating budget using tax anticipation notes. The notes are repaid upon collection of property taxes. On April 1, 2019, the City estimated that it will require OMR 1,250,000 to finance governmental activities for the remainder of the 2019 fiscal year. On that date, it had OMR 385,000 of cash on hand and OMR 415,000 of current liabilities. Collections for the remainder of FY 2019 from revenues other than current property taxes and from delinquent property taxes, including interest and penalties, were estimated at OMR 550,000. Required: Calculate the estimated amount of tax anticipation financing that will be required for the remainder of FY 2019. Show work in good form. laws? Section B - Medium Answer Questions - Answer any ONE55 5. Make all necessary entries in the appropriate governmental fund pencral journal anal The povernment-wide governmental 4. The City of 'T' collects its annual property taxes late in its fiscal year. Consequently, each year it must finance part of its operating budget using tax anticipation notes. The notes are repaid upon collection of property taxes. On April 1, 2019, the City estimated that it will require OMR 1,250,000 to finance governmental activities for the remainder of the 2019 fiscal year. On that date, it had OMR 385,000 of cash on hand and OMR 415,000 of current liabilities. Collections for the remainder of FY 2019 from revenues other than current property taxes and from delinquent property taxes, including interest and penalties, were estimated at OMR 550,000. Required: Calculate the estimated amount of tax anticipation financing that will be required for the remainder of FY 2019. Show work in good form