E12.13 Reconciliation of Budgetary Basis to GAAP Basis Following is the condensed fiscal 2016 state- ment of budget and actual revenues, expenditures, and changes in fund balances for the City of Los Angeles' general fund. (in thousands) Budget Actual V ariance Revenues ................................ Expenditures .... Other financing sources (uses).......... a n y sources uses)..................... Excess of revenues and other financing sources over expenditures and other financing uses ... $5,051,731 5,008,500 (43,231) $4,946,400 4,677,185 (203,380) $(105,331) 331,315 (160,149) (43,231) $ 65,835 $ 65,835 The 2016 governmental funds statement of revenues, expenditures and changes in fund balances reports a change in fund balances of $67,466,000 for the general fund. The following information is available con- cerning budgetary basis and modified accrual basis reporting differences for the general fund (in thousands). $383,015 290,571 144,006 1,233 Encumbrances reported as budgetary expenditures. ... Prior year encumbrances expended in current year ..... Expenditures reported in the general fund operating statement but not in the budget....... Revenues included in the budget but not reported in the general fund....... General fund interfund borrowings, reported as "transfers in" in the budget, but as "due to other funds" in the governmental funds financial statements .................. Amount by which revenues less expenditures, measured using the modified accrual GAAP basis, exceed revenues less expenditures, measured for budget purposes as amounts received/paid... 8,015 62,441 Required Prepare a reconciliation of the budgetary basis to GAAP basis for the excess of revenues and other financ- ing sources over expenditures and other financing uses for the general fund. E12.13 Reconciliation of Budgetary Basis to GAAP Basis Following is the condensed fiscal 2016 state- ment of budget and actual revenues, expenditures, and changes in fund balances for the City of Los Angeles' general fund. (in thousands) Budget Actual V ariance Revenues ................................ Expenditures .... Other financing sources (uses).......... a n y sources uses)..................... Excess of revenues and other financing sources over expenditures and other financing uses ... $5,051,731 5,008,500 (43,231) $4,946,400 4,677,185 (203,380) $(105,331) 331,315 (160,149) (43,231) $ 65,835 $ 65,835 The 2016 governmental funds statement of revenues, expenditures and changes in fund balances reports a change in fund balances of $67,466,000 for the general fund. The following information is available con- cerning budgetary basis and modified accrual basis reporting differences for the general fund (in thousands). $383,015 290,571 144,006 1,233 Encumbrances reported as budgetary expenditures. ... Prior year encumbrances expended in current year ..... Expenditures reported in the general fund operating statement but not in the budget....... Revenues included in the budget but not reported in the general fund....... General fund interfund borrowings, reported as "transfers in" in the budget, but as "due to other funds" in the governmental funds financial statements .................. Amount by which revenues less expenditures, measured using the modified accrual GAAP basis, exceed revenues less expenditures, measured for budget purposes as amounts received/paid... 8,015 62,441 Required Prepare a reconciliation of the budgetary basis to GAAP basis for the excess of revenues and other financ- ing sources over expenditures and other financing uses for the general fund
