6 ts Exercise 3-28 (Algo) Governmental Fund Statement and Schedule [LO 3-3] Greenville has provided the following information from its General Fund Revenues and Appropriations/Expenditure/Encumbrances subsidiary ledgers for the fiscal year ended. Assume the beginning fund balances are $159 (in thousands) and that the budget was not amended during the year. City of Greenville General Fund Subsidiary Ledger Account Balances (in thousands) For the Fiscal Year eBook Estimated Revenue Taxes ferences Fines & Forfeits Intergovernmental Revenue Charges for Services Revenues Taxes Fines & Forfeits Charges for Services Intergovernmental Revenue Appropriations General Government Public Safety Public Works Culture & Recreation Estimated Other Financing Uses Interfund Transfers Out Expenditures General Government Public Safety Public Works Culture & Recreation Encumbrances General Government Public Safety Public Works Culture & Recreation Other Financing Uses Interfund Transfers Out Debits Credits 6,048 303 506 370 6,063 308 506 367 1,622 3,355 1,443 712 19 18 8 0 56 1,642 3,375 1,453 724 56 Required a. Prepare a General Fund statement of revenues, expenditures, and changes in fund balance. b. Prepare a General Fund schedule of revenues, expenditures, and changes in fund balance-budget and actual (assume the budget is prepared on a GAAP basis). Complete this question by entering your answers in the tabs below. Required A Required B Prepare a General Fund statement of revenues, expenditures, and changes in fund balance. (Enter your answers in thousands.) CITY OF GREENVILLE General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances For the Fiscal Year (Amounts in Thousands) Revenues: Taxes Fines and Forfeits Intergovernmental Revenue Charges for Services $ 6,080 308 499 367 Total Revenues 7,254 Expenditures: General Government 1,622 Public Safety 3,361 Public Works 1,143 Culture and Recreation 716 Encumbrances 45 6,887 Total Expenditures Other Financing Sources and (Uses) Interfund Transfers Out Change in Fund Balances Fund Balances, January 1 Fund Balances, December 31 Required A 69 (49) 318 318 Required B > Required A Required B Prepare a General Fund schedule of revenues, expenditures, and changes in fund balance-budget and actual (assume the budget is prepared on a GAAP basis). (Enter your answers in thousands. Input all amounts as positive values.) CITY OF GREENVILLE General Fund Schedule of Revenues, Expenditures, and Changes in Fund Balances-Budget and Actual For the Fiscal Year (Amounts in Thousands) Revenues Taxes Fines and Forfeits Intergovernmental Revenue Charges for Services Budgeted Amounts Actual Amounts Variance with Final Budget Original Final Budget Basis Over (Under) $ 6,048 $ 6,048 $ 6,080 $ 32 303 303 308 5 499 499 499 0 370 370 367 (3) 0 7,220 7,220 7,254 34 Total Revenues Expenditures and Encumbrances 1,637 1,637 1,622 (15) Public Safety 3,375 3,375 3,361 (14) Public Works 1,464 1,464 1,443 (21) Culture and Recreation 724 724 716 (8) Encumbrances 0 0 45 45 Total Expenditures 7,200 7,200 7,187 (13) Excess of Revenue Over Expenditures 0 Other Financing Sources and (Uses) Interfund Transfers Out (49) (49) (49) 0 69 69 18 (51) Excess (Deficiency) of Revenues over expenditures and other financing sources (20) (20) (31) (11) Increase in Encumbrances outstanding 0 Increase in Fund Balances for the Year (20) (20) (31) (11) Fund Balances, January 1 0 Fund Balances, December 31 $ (20) $ (20) $ (31) $ (11)