Assume you are the Finance Director of City X. You have been presented with the following current year budget and next year financial projections (see attached MS-Excel File).

NOTE: This is all I got for this exercise. We need do a cancel on each question and give an answers in figures. I copy the question from Excel. Based on each question, we need to look at the chart and answer or do a calculation.

Q1. What is the Current Years Target Ending Fund Balance?

Q2. What is the Current Years Shortfall/Surplus (difference between Budgeted Ending Fund Balance and Target Ending Fund Balance)? Specify whether it is a surplus or shortfall, and the dollar amount.

Q3. What is the Current Years Levy Rate? Specify in dollars and cents, per $1000 assessed value.

Q4. What is the Next years Beginning Fund Balance?

Q5. Next Years Property Tax Levy amount (assume a 1% increase over the Current Year)?

Q6. What is the Next Years Projected Ending Fund Balance?

Q7. Next Years Target Ending Fund Balance?

Q8. What is the Next Years Shortfall/Surplus (difference between Budgeted Ending Fund Balance and Target Ending Fund Balance)? Specify whether it is a surplus or shortfall, and the dollar amount.

Q9. What is the Next Years Levy Rate? Specify in dollars and cents, per $1000 assessed value.

Q10. How much will this City need to either raise revenues or decrease expenses to end the Next Year with sufficient fund balance to meet its Target Ending Fund Balance?

Row Labels	Sum of 23,449,900	Sum of 1,000,000
Assessed Valuation	4,868,129,362	4,680,893,617
Total Expenditures	22,223,250	21,450,000
Salaries and Benefits	17,100,000	16,500,000
Total Revenues	12,230,000	23,000,100
Sales Taxes	9,690,000	9,500,000
Supplies	4,657,500	4,500,000
Utility Taxes	2,040,000	2,000,000
Grants and Other	500,000	500,000
Services	310,500	300,000
Debt Service	155,250	150,000
Levy Rate
(blank)
Shortall / Surplus to Target
Target Ending Fund Balance (20% of Revenues)		23,449,900
Ending Fund Balance		2,550,100
Property Taxes		11,000,100
Grand Total	4,937,035,862	4,795,793,817