Check my work Tri-County Social Service Agency is a not-for-profit organization in the Midwest. Use the following information to complete the cash budget for the year ending December 31. The Board of Trustees requires that Tri-County maintain a minimum cash balance of $22,000. . If cash is short, the agency may borrow from an endowment fund the amount required to maintain the $22,000 minimum. It is anticipated that the year will begin with an $25,000 cash balance. Contract revenue is received evenly during the year. Mental health income is expected to grow by $4,000 in the second and third quarters; no change is expected in the fourth quarter. Required: 2. Complete the cash budget for each quarter and the year as a whole. 3. Determine the amount that the agency will owe the endowment fund at year-end. Required 2 Required 3 Complete the cash budget for each quarter and the year as a whole. (Cash deficiency and repayments should be indicated by a minus sign. Enter your answers in thousands.) Yea $ 25 289 80 196 Cash Budget for Tri-County Social Service Agency (in thousands) Quarters I II IV Cash balance, beginning $ 251 Receipts: Grants 105 92 Contracts Mental health income 44 Charitable donations 360 370 420 Total cash available 511 510 Less Disbursements: Salaries and benefits 352 Office expenses 94 9754 Equipment purchases & maintenance 1161 Specific assistance 18 20 Total disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings from endowment fund 125 Repayments (48) Total financing effects Cash balance, ending 1,688 305 29 79 Required 2 Required 3 Determine the amount that the agency will owe the endowment fund at year-end. Amount owed to endowment fund Check my work Tri-County Social Service Agency is a not-for-profit organization in the Midwest. Use the following information to complete the cash budget for the year ending December 31. The Board of Trustees requires that Tri-County maintain a minimum cash balance of $22,000. . If cash is short, the agency may borrow from an endowment fund the amount required to maintain the $22,000 minimum. It is anticipated that the year will begin with an $25,000 cash balance. Contract revenue is received evenly during the year. Mental health income is expected to grow by $4,000 in the second and third quarters; no change is expected in the fourth quarter. Required: 2. Complete the cash budget for each quarter and the year as a whole. 3. Determine the amount that the agency will owe the endowment fund at year-end. Required 2 Required 3 Complete the cash budget for each quarter and the year as a whole. (Cash deficiency and repayments should be indicated by a minus sign. Enter your answers in thousands.) Yea $ 25 289 80 196 Cash Budget for Tri-County Social Service Agency (in thousands) Quarters I II IV Cash balance, beginning $ 251 Receipts: Grants 105 92 Contracts Mental health income 44 Charitable donations 360 370 420 Total cash available 511 510 Less Disbursements: Salaries and benefits 352 Office expenses 94 9754 Equipment purchases & maintenance 1161 Specific assistance 18 20 Total disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings from endowment fund 125 Repayments (48) Total financing effects Cash balance, ending 1,688 305 29 79 Required 2 Required 3 Determine the amount that the agency will owe the endowment fund at year-end. Amount owed to endowment fund
