During 2015, the City of Greenfield engaged in the following financial activities:

1.		The City Council approved the budget for the general operating fund. The budget shows estimated revenues of $2,005,000 and appropriations for expenditures of $1,957,000.
2.		Property tax assessments for 2015 were compiled and statements mailed to property owners. Assessments total $1,043,000. Past collection experience indicates that approximately 5% of assessed property taxes are delinquent or uncollectible during the year of billing.
3.		A low bid of $14,000 was accepted for a new vehicle for the fire chief. A purchase order was issued providing for additional costs for painting and ancillary equipment (negotiated after the bid) prior to delivery. The estimate of additional costs is $1,200.
4.		Additional purchase orders placed during the year amount to $152,000.
5.		City employees are issued paychecks for the month of April. The total payroll amounts to $88,000.
6.		The City received a statement from the State Treasurer that the Citys portion of the state sales tax for the first half-year is $407,000.
7.		Vouchers for expenditures totaling $125,000 are approved for payment. Encumbrances against these vouchers were recorded at a total of $126,800.
8.		The vehicle for the fire chief was delivered and accepted. The invoice in the amount of $15,000 was approved for payment.
9.		Property tax collections for the month of June amounted to $439,000.
10.		The City Treasurer issued checks in payment of the vouchers totaling $125,000 and for the invoice for the fire chiefs vehicle.
11.		A purchase order previously issued for an electric typewriter (estimated price $690) was canceled when the vendor indicated a three-month delay in delivery.

No. Account Titles and Explanation Debit Credit 1. Estimated Revenue 2005000 Appropriations 1957000 Fund Balance - Unassig 48000 2. Property Tax Receivable 1043000 Revenue 990850 Estimated Uncollectible 52150 3. Encumbrances 15200 Fund Balance - Assigne 15200 4. Encumbrances 152000 Fund Balance - Assigne 152000 5. Expenditures - Current Yea 88000 Cash 88000 6. Due from State 407000 Revenue 407000 7. Expenditures - Current Yes 125000 125000 Vouchers Payable (To record expenditure) Fund Balance - Assigned 126800 126800 Encumbrances (To remove encumbrances) 8. Expenditures - Current Yes 15000 > 15000 Vouchers Payable (To record expenditure) Fund Balance - Assigned 15200 15200 Encumbrances (To remove encumbrances) 9. Cash 439000 Property Tax Receivable 439000 10. TVouchers Payable 140000 Cash 140000 11. Fund Balance - Assigned 690 Encumbrances 690 No. Account Titles and Explanation Debit Credit 1. Estimated Revenue 2005000 Appropriations 1957000 Fund Balance - Unassig 48000 2. Property Tax Receivable 1043000 Revenue 990850 Estimated Uncollectible 52150 3. Encumbrances 15200 Fund Balance - Assigne 15200 4. Encumbrances 152000 Fund Balance - Assigne 152000 5. Expenditures - Current Yea 88000 Cash 88000 6. Due from State 407000 Revenue 407000 7. Expenditures - Current Yes 125000 125000 Vouchers Payable (To record expenditure) Fund Balance - Assigned 126800 126800 Encumbrances (To remove encumbrances) 8. Expenditures - Current Yes 15000 > 15000 Vouchers Payable (To record expenditure) Fund Balance - Assigned 15200 15200 Encumbrances (To remove encumbrances) 9. Cash 439000 Property Tax Receivable 439000 10. TVouchers Payable 140000 Cash 140000 11. Fund Balance - Assigned 690 Encumbrances 690