New York States general fund budget and actual information for fiscal 2017 appear below. All dollar amounts are in millions

Use the final financial plan (budget) amounts when answering the questions below.

Assume New York States general fund separates its other financing sources (uses) into sources and uses when preparing its budget and closing entries.

Required (answer in millions)

a. Prepare the fiscal 2017 budget entry for the general fund.

b. Prepare the fiscal 2017 closing entries for the general fund.

General Financial Plan Amounts Original Final Actual (Budgetary Basis) Variance with Final Budget $ RECEIPTS: Taxes Miscellaneous Federal grants Total receipts 47,752 $ 2,813 46,061 $ 3,799 45,507 $ 3,813 (554) 14 50,565 49,860 49,320 (540) 386 DISBURSEMENTS: Local assistance grants(1) State operations General State charges Total disbursements Excess (deficiency) of receipts over disbursements 167 45,957 8,299 5,425 59,681 44,826 8,253 5,491 29 44,440 8,086 5,462 57,988 (8,668) 582 58,570 (8,710) (9,116) 42 OTHER FINANCING SOURCES (USES): Transfers from other funds Transfers to other funds. Net other financing sources (uses) Excess (deficiency) of receipts and other financing sources over disbursements and other financing uses 18,411 (12,160) 6,251 18,130 (11,122) 7,008 17,575 (10,093) 7,482 (555) 1,029 474 $ (2,865) $ (1,702) $ (1,186) S 516 General Financial Plan Amounts Original Final Actual (Budgetary Basis) Variance with Final Budget $ RECEIPTS: Taxes Miscellaneous Federal grants Total receipts 47,752 $ 2,813 46,061 $ 3,799 45,507 $ 3,813 (554) 14 50,565 49,860 49,320 (540) 386 DISBURSEMENTS: Local assistance grants(1) State operations General State charges Total disbursements Excess (deficiency) of receipts over disbursements 167 45,957 8,299 5,425 59,681 44,826 8,253 5,491 29 44,440 8,086 5,462 57,988 (8,668) 582 58,570 (8,710) (9,116) 42 OTHER FINANCING SOURCES (USES): Transfers from other funds Transfers to other funds. Net other financing sources (uses) Excess (deficiency) of receipts and other financing sources over disbursements and other financing uses 18,411 (12,160) 6,251 18,130 (11,122) 7,008 17,575 (10,093) 7,482 (555) 1,029 474 $ (2,865) $ (1,702) $ (1,186) S 516