CITY OF BRIDGEVIEW

GENERAL FUND

PRECLOSING TRIAL BALANCE

AS OF DECEMBER $31,20$X$6$

DEBITS CREDITS

Cash $ $1,528,000$

Taxes Receivable$-$Delq. $710,000$

Allow for Uncol. Taxes$-$Delq. $ $284,000$

Supplies Inventory $15,000$

Due from Federal Govt $375,000$

Due from CPF $50,000$

Accounts Payable $795,000$

Deferred Inflow of Resources $142,000$

Due to Other Funds $40,000$

Fund Balance $1/1/$X$6125,000$

Revenue: Property Taxes $5,969,000$

Revenue: Grants $375,000$

Revenue: Interest & Penalties $3,000$

Revenue: Restricted Gift $100,000$

Special Item: Sale of Land $100,000$

Expenditures: Current $5,055,000$

OFU: Transfers Out $200,000$

Encumbrances $125,000$

BFB Reserve for Encumbrances $125,000$

Appropriations: Current $4,745,000$

Estimated Revenues: Grants $425,000$

Estimated Revenues: Property Taxes $7,500,000$

Estimated OFU: Transfers Out $200,000$

Budgetary Fund Balance $2,980,000$

TOTAL DEBITS$/$CREDITS $ $15,983,000$ $ $15,983,000$

All of the items below are reflected in the numbers above

$1)$ Assume a budgetary amendment was posted during the year, which increased Appropriations$-$Current by $$45,000$ and decreased Estimated Grant Revenue by $$75,000.$

$2)$ Near year$-$end a restricted gift of $$100,000$ was received by the city to fund a food bank operated by the general fund. No funds have been disbursed as of year$-$end.

$3)$ During the year the General Fund made an inter$-$fund loan to the Water & Sewer fund for $$15,000,$ which has not been repaid by the Water & Sewer Fund at year end.

$4)$ You do not have to provide closing entries for this problem, however assume they would be done prior to completing the balance sheet.

From the Pre$-$closing Trial Balance and the two items listed below, complete the Balance Sheet