Preclosing Trial Balances for Each Fund (in thousands of dollars) Preclosing Trial Balance for Croton City General Fund December 31, 2019 Debits Credits 9,000 5,000 1,000 600 600 Budgetary Accounts Estimated revenues - property taxes Estimated revenues - personal income taxes Estimated revenues - intergovernmental Estimated revenues recreation fees Budgetary fund balance Appropriations - public safety salaries Appropriations public safety supplies Appropriations - public works salaries Appropriations - parks salaries Appropriations -- transfer to Library Fund Appropriations -transfer to Debt Service Fund Encumbrances Budgetary fund balance reserved for encumbrances Financial Accounts Cash Property taxes receivable - delinquent Income taxes receivable Allowance for uncollectible property taxes - delinquent Income tax refunds payable Salaries payable Accrued vacation pay payable Deferred property tax revenues Unassigned fund balance Revenues-property taxes 7,100 500 5,000 2,300 100 1,200 150 150 1,050 930 700 30 300 700 10 400 1.600 8.880 Revenues - personal income taxes Revenues - intergovernmental Revenues - recreation fees Expenditures - public safety salaries Expenditures - public safety supplies Expenditures - public works salaries Expenditures - parks salaries Transfer out to Library Special Revenue Fund Transfer out to Debt Service Fund Totals 5,000 1,000 700 7,060 330 4,950 2,300 100 1.200 34.970 34.970 35 5 Library Special Revenue Fund December 31, 2019 Cash Restricted fund balance Transfer in from General Fund Revenues - intergovernmental grant Revenues -- miscellaneous Expenditures - culture salaries Expenditures - culture supplies Totals 100 300 20 350 40 425 425 Capital Projects Fund December 31, 2019 Revenues - intergovernmental grants Other financing source - long-term debt issued Expenditures - construction costs Expenditures - architect/supervision fees Totals Debits Credits 1,000 2,000 2,800 200 3.000 3.000 Debt Service Fund December 31, 2019 Cash Transfer in from General Fund Expenditures - interest Expenditures - bond principal Totals 30 1,200 520 650 1.200 1.200 From the Preclosing trial balances, prepare the following financial statements: Governmental Funds - Balance Sheet Governmental Funds - Statements of Revenues, Expenditures, and Changes in Fund Balances General Fund - Budgetary Comparison Schedule The trial balances are provided above so that everyone will have a correct trial balance to prepare the financial statements. Please submit the financial statements as an attachment. Total points available are 50 points. Due November 2, 2020
