36 Identify the fund(s) affected by each of the above lidt P10.15 Budget and Closing Entries Budgetary comparison information for the budgeted line items in general fund, taken from the 2013 CAFR for the State of New York, is as follows: Budget Actual (in millions) $43,047 3,724 60 $43,282 3,504 62 46,848 46,831 Revenues Taxes Miscellaneous Federal grants Total revenues Expenditures Local assistance grants... State operations ...... General state charges. ... Total expenditures.... Excess (deficiency) of revenues over expenditures Other financing sources (uses) Transfers from other funds.... Transfers to other funds ....... Net other financing sources (uses)... Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses 11011***|*% 39,776 8,094 4,589 52,459 39,760 7,856 4,550 52,166 (5,318) (5,628) 12,231 (6,916) 5,315 11,934 (6,793) 5,141 $ (313) $ (177) Chapter 10. State and Local Governments: Introduction and Required For the general fund budgeted accounts shown above, a. Prepare the 2013 budget entry for these items. b. Prepare the closing entries. What is the net effect on the general fund's fund balance--unassigned? d. Evaluate New York State's performance for 2013. 36 Identify the fund(s) affected by each of the above lidt P10.15 Budget and Closing Entries Budgetary comparison information for the budgeted line items in general fund, taken from the 2013 CAFR for the State of New York, is as follows: Budget Actual (in millions) $43,047 3,724 60 $43,282 3,504 62 46,848 46,831 Revenues Taxes Miscellaneous Federal grants Total revenues Expenditures Local assistance grants... State operations ...... General state charges. ... Total expenditures.... Excess (deficiency) of revenues over expenditures Other financing sources (uses) Transfers from other funds.... Transfers to other funds ....... Net other financing sources (uses)... Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses 11011***|*% 39,776 8,094 4,589 52,459 39,760 7,856 4,550 52,166 (5,318) (5,628) 12,231 (6,916) 5,315 11,934 (6,793) 5,141 $ (313) $ (177) Chapter 10. State and Local Governments: Introduction and Required For the general fund budgeted accounts shown above, a. Prepare the 2013 budget entry for these items. b. Prepare the closing entries. What is the net effect on the general fund's fund balance--unassigned? d. Evaluate New York State's performance for 2013