I got part A and most of part B, but the latter half I got stuck on and need guidance.
Greenville has provided the following information from its General Fund Revenues and Appropriations/Expenditure/Encumbrances subsidiary ledgers for the fiscal year ended. Assume the beginning fund balances are $152 (in thousands) and that the budget was not amended during the year. City of Greenville General Fund Subsidiary Ledger Account Balances (in thousands) For the Fiscal Year Debits Credits Estimated Revenue Taxes 6,048 Fines & Forfeits 303 Intergovernmental Revenue 500 Charges for Services 370 Revenues Taxes 6,051 Fines & Forfeits 308 Intergovernmental Revenue 500 Charges for Services 366 Appropriations General Government 1,635 Public Safety 3,375 Public Works 1,448 Culture & Recreation 724 Estimated Other Financing Uses Interfund Transfers Out 50 Expenditures General Government 1,622 Public Safety 3,361 Public Works 1,443 Culture & Recreation 718 Encumbrances General Government 8 Public Safety 11 Public Works 3 Culture & Recreation Other Financing Uses Interfund Transfers Out 50 Required a. Prepare a General Fund statement of revenues, expenditures, and changes in fund balance. b. Prepare a General Fund schedule of revenues, expenditures, and changes in fund balance-budget and actual (assume the budget is prepared on a GAAP basis). a. Prepare a General Fund statement of revenues, expenditures, and changes in fund balance. b. Prepare a General Fund schedule of revenues, expenditures, and changes in fund balance-budget and actual (assume the budget is prepared on a GAAP basis). Complete this question by entering your answers in the tabs below. Required A Required B Prepare a General Fund statement of revenues, expenditures, and changes in fund balance. (Enter your answers in thousands.) CITY OF GREENVILLE General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances For the Fiscal Year (Amounts in Thousands) Revenues: Taxes $ 6,051 Fines and Forfeits 308 Intergovernmental Revenue 500 Charges for Services 366 7,225 1,622 Total Revenues Expenditures: General Government Public Safety Public Works Culture and Recreation 3,361 1,443 718 7,144 (50) Total Expenditures Other Financing Sources and (Uses) Interfund Transfers Out Change in Fund Balances Fund Balances, January 1 Fund Balances, December 31 31 152 183 $ Required A Required B Prepare a General Fund schedule of revenues, expenditures, and changes in fund balance-budget and actual (assume the budget is prepared on a GAAP basis). (Enter your answers in thousands. Input all amounts as positive values.) CITY OF GREENVILLE General Fund Schedule of Revenues, Expenditures, and Changes in Fund Balances-Budget and Actual For the Fiscal Year (Amounts in Thousands) Budgeted Amounts Actual Amounts Budget Basis Variance with Final Budget Over (Under) Original Final $ 6,048$ 6,051s 3 Revenues Taxes Fines and Forfeits Intergovernmental Revenue Charges for Services 6,048S 303 500 303 308 5 500 500 0 370 370 366 (4) 0 7,221 7,221 7,225 4 Total Revenues Expenditures and Encumbrances General Government Public Safety Public Works Culture and Recreation 1,635 3,375 1,635 3,375 (1,635) (3,375) (1,448) (724) 1,448 724 1,448 724 0 7,182 7,182 0 (7,182) 0 Total Expenditures Excess of Revenue Over Expenditures Other Financing Sources and (Uses) Interfund Transfers Out 0 0 0 0 0 0 0 Excess (Deficiency) of Revenues over expenditures and other financing sources Increase in Encumbrances outstanding Increase in Fund Balances for the Year Fund Balances, January 1 Fund Balances, December 31 0 0 0 0 0 $ 0 S 0 $ 0 S 0
