Pur$$uant to law, a city imposes a hotel occupancy tax for the sole purpose of beautifying the downtown area. The city corporation counsel advises the finance commissioner that the taxes must be used solely as stipulated in the law. During the year the city collects hotel occupancy taxes of $$800,000,$ deposits that amount in a Downtown Redevelopment Special Revenue Fund, and spends $$450,000$ of it$.$ How should the remaining $$350,000$ of net assets be classified in the Special Revenue Fund's balance sheet?

Select one:

a$.$ As Reserved fund balance

b$.$ As Restricted fund balance

c$.$ As Assigned fund balance

d$.$ As Unassigned fund balance