Instructions: Using the Budgetary Comparison Schedule provided below for the City of Salem, prepare the appropriate journal entires that must have been recorded during the year to arrive at the year-end numbers provided below. You are required to record entries for the general and subsidiary ledger for the General Fund. You must use cell references and Excel formuals for each highlighted cell. Submit this completed Excel template via Blackboard by the due date listed on the Course Calendar. CITY OF SALEM Budgetary Comparison Schedule: General Fund For The Year Ended December 31, 2017 Budgeted Amounts REVENUES Property Taxes Other Local Taxes Charges for Services Intergovernmental Miscellaneous TOTAL REVENUES Original 14,666,000 11,562,500 1,613,011 7,892,080 1,504,977 37,238,568 Final 14,666,000 11,562,500 1,613,011 8,047,907 1,388,385 37,277,803 Actual Amounts Budgetary Basis 15,361,830 11,761,522 1,601,435 7,098,698 1,262,549 37,086,034 Variance with Final Budget 695,830 199,022 (11,576) (949,209) (125,836) (191,769) EXPENDITURES Current General Government Judicial Administration Public Safety Public Works Health and Welfare Education Parks and Recreation Community Development TOTAL EXPENDITURES 3,567,838 1,321,048 7,753,002 4,541,651 4,823,267 8,963,248 2,983,861 872,594 34,826,509 3,489,870 1,497,845 8,325,564 4,984,353 4,440,167 8,929,725 3,097,528 904,168 35,669,220 3,353,502 1,456,734 8,216,347 4,602,273 4,418,294 8,887,834 3,055,325 899,209 34,889,518 136,368 41,111 109,217 382,080 21,873 41,891 42,203 4,959 779,702 2,412,059 1,608,583 2,196,516 587,933 REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES): Transfers (to) other funds (3,560,000) (3,560,000) (3,257,000) (3,257,000) (3,256,899) (3,256,899) 101 101 Excess of revenues and other sources over (under) expenditures and other uses FUND BALANCE - Beginning of Year FUND BALANCE - End of Year (1,147,941) 12,338,963 11,191,022 (1,648,417) 12,338,963 10,690,546 (1,060,383) 588,034 12,338,963 11,278,580 588,034 Debits Credits Debits Credits 1. Record the Original Budget Revenues control account Estimated Revenues ledger: Appropriations & Other Financing Uses control accounts timated ther Financing Uses Appropriations subsidiary ledger: Other Financing Uses subsidiary ledger: Transfers Out General Ledger Debits Credits Subsidiary Ledger Debits Credits 2. Record the Actual Revenues Revenues control account Revenues subsidiary ledger: General Ledger Debits Credits Subsidiary Ledger Debits Credits 3. Record the Expenditures Expenditures Control account Expenditures subsidiary ledger