Problem 5: Questions from the CAFR for the Village of Arlington Heights for the year ended December 31, 2018. All questions are on the general fund of the Village. The CAFR is posted to content. Hints: read the table of contents as well as note 2.

10. When were public hearings conducted so that citizens of the Village could provide their input concerning the proposed general fund budget for estimated revenues and appropriations for 2018? Answer in months and year.
11. The Village has received the GFOAs Certificate for Excellence in Financial Reporting for how many consecutive years?
12. Assume $10,000 is transferred from the public works appropriation for salaries to the board of trustees appropriation for salaries in the general fund appropriations budget. Who has the authority in the Village to make this budget interchange?
13. Assume $10,000 is added to the appropriation for public works salaries, causing total general fund appropriations to increase by $10,000. Who has the authority in the Village to make this budget revision?
14. What were total estimated revenues for 2018 for the general fund as reported in the final budget?
15. What were total appropriations for 2018 for the general fund as reported in the final budget?
16. What was the amount of the general fund budget hole for 2018? Show your computations. Ignore other financing sources and uses in your computations.
17. What amount of revenue was expected by the general fund in 2018 from the Villages share of taxes collected by the State of Illinois? Show each amount.
18. What was the amount of expenditures made by the finance department in 2018 that were not budgeted?
19. In the subsidiary revenues ledger, how many subsidiary ledger accounts are needed for (a) licenses, (2) permits, and (3) fees?
20. In the general fund subsidiary revenues ledger, there is an account for home rule sales tax. Complete the template for this account using the information found in the CAFR.
21. In the appropriations budget for general government for 2018, the final budgeted amount of $4,951,026 exceeded the original budgeted amount of $4,950,000 by $1,026. The difference of $1,026 is the net amount that resulted from a budget revision and a budget interchange. Answer the following questions:

(A) What is the amount of the interchange and the line items that were affected?

(B) What is the amount of the budget revision and the line item affected?