6/4/20 Chapter 10 State and Local Governments: Introduction and General Fund Transactic Assume that the Steuben County charter requires a balanced budget and that increasing the tax rate is politically unacceptable. Compute the maximum amount of appropriations that can be funded by property taxes given the increase in assessed valuation. C. Computing Available Funds are asked to determine the amount of available funds. After consulting your assistant and the city treasurer, you begin to analyze the following information. E10.5 As the newly-hired assistant controller for the City of Lancaster, you LO (in thousands) Dr (Cr) Cash in bank $100,000 5,000,000 Estimated revenue 150,000 Budgetary deficit (4,600,000) 4,550,000 Revenue. Expenditures Accounts payable. Fund balance-assigned Fund balance-unassigned... (500,000) (350,000) (400,000) 4Assigned fund balance consists of outstanding encumbrances. 07H Required Calculate the funds available to be encumbered. a. Suppose it is now August 31, close to the September 30 fiscal year-end. Operating costs occur evenly throughout the year. What advice would you communicate concerning spending activity in September? The following information relates to actu- b. Reconstruct Budget Entry, Compute Fund Balance .6