E3-4 (Estimating the fund balance at the end of the year) At the end of the preceding year, the General Fund of the Atlas Township School Board had a fund balance of $800,000. General Fund revenues and expenditures for the current year are expected to be as shown here. Determine the projected year-end fund balance for this fund.

Year-to-Date Actual Remainder of Year Estimated $1,250,000 50,000 100,000 500,000 $500,000 20,000 50,000 Revenues Property taxes Out-of-township tuition Share of lottery receipts State grants Expenditures Salaries Fringe benefits Operating expenses Equipment Transportation Debt service $ 875,000 90,000 588,000 110,000 15,000 100,000 $450,000 40,000 240,000 50,000 10,000 100,000