Required Information [The following Information applies to the questions displayed below.] The following transactions occurred during the 2023 fiscal year for the City of Evergreen. For budgetary purposes, the city reports encumbrances in the Expenditures section of its budgetary comparison schedule for the General Fund but excludes expenditures chargeable to a prior year's appropriation. 1. The budget prepared for the fiscal year 2023 was as follows: Estimated Revenues: Taxes Licenses and permits Intergovernmental revenue $1,943,000 372,000 397,000 Miscellaneous revenues 62,000 Total estimated revenues 2,774,000 Appropriations: General government Public safety Public works 471,000 886,000 650,000 Health and welfare 600,000 Miscellaneous 86,000 Total appropriations 2,693,000 Estimated Other Financing Uses: Estimated other financing uses-transfers out 22,000 Budgeted increase in fund balance $ 59,000 2. Encumbrances Issued against the appropriations during the year were as follows: General government Public safety Public works Health and welfare Miscellaneous Total $ 58,000 250,000 392,000 160,000 71,000 $931,000 3. The current year's tax levy of $2,005,000 was recorded; uncollectibles were estimated to be $65,000. 4. Tax collections of the current year's levy totaled $1,459,000. The City also collected $132,000 in taxes from the prior year's levy in the first 60 days after year-end. (These delinquent collections had been anticipated prior to year-end.) 5. Personnel costs during the year were charged to the following appropriations in the amounts Indicated. Encumbrances were not recorded for personnel costs. Because no liabilities currently exist for withholdings, you may ignore any FICA or federal or state Income tax withholdings. (Expenditures charged to Miscellaneous should be treated as General Government expenses in the governmental activities general journal at the government-wide level.) General government Public safety $ 411,000 635,000 Public works 254,000 Health and welfare Miscellaneous 439,000 11,100 Credit to Vouchers Payable $1,750,100 6. Invoices for all items ordered during the prior year were received and approved for payment in the amount of $14,470. Encumbrances had been recorded in the prior year for these items in the amount of $14,000. The amount chargeable to each year's appropriations should be charged to the Public Safety appropriation. 7. Invoices were received and approved for payment for Items ordered in documents recorded as encumbrances in Transaction (2) of this problem. The following appropriations were affected. Actual Liability General government $ 52,700 Estimated Liability $ 52,200 Public safety Public works Health and welfare Miscellaneous 236,200 240,900 360,000 130,600 357,000 130,100 71,000 $850,500 71,000 $851,200 8. Revenue other than taxes collected during the year consisted of licenses and permits, $373,000; Intergovernmental revenue, $400,000; and $66,000 of miscellaneous revenues. For purposes of accounting for these revenues at the government-wide level, the Intergovernmental revenues were operating grants and contributions for the Public Safety function. Miscellaneous revenues are not identifiable with any function and, therefore, are recorded as General Revenues at the government-wide level. 9. A transfer of $22,000 was made to the debt service fund for principal and Interest payments. 10. Payments on Vouchers Payable totaled $2,505,000. Additional Information follows: The General Fund Fund Balance- Unassigned account had a credit balance of $96,900 as of December 31, 2022; no entries have been made in the Fund Balance-Unassigned account during 2023. Required a-1. Prepare general journal for fiscal year 2023 for the General Fund and for the governmental activities. (If no entry is required transaction/event, select "No Journal Entry Required" In the first account field.) Transaction Fund/ Governmental Activties 1. Record the budget estimates and appropriations. 1 General Fund Estimated Revenues Appropriations Budgetary Fund Balance General Journal Governmental Activities 2. Record the encumbrances issued against the appropriations during the year. 2 General Fund Governmental Activities Encumbrances-2023 Encumbrances Outstanding-2023 3. The current year's tax levy of $2,005,000 was recorded; uncollectibles were estimated to be $65,000. 3 General Fund Taxes Receivable-Current Allowance for Uncollectible Current Taxes Revenues Governmental Activities Taxes Receivable-Current Allowance for Uncollectible Current Taxes General Revenues-Property taxes 4. Tax collections of the current year's levy totaled $1,459,000; collections from prior years' levies totaled $132,000. General Fund 4 Governmental Activities Cash Taxes Receivable-Delinquent Taxes Receivable-Current 5. Record the personnel costs during the year. 5 General Fund Expenditures-2023 Vouchers Payable Governmental Activities Debit Credit 2,774,000 2,693,000 59,000 931,000 931,000 2,005,000 65,000 1,940,000 2,005,000 65,000 1,940,000 1,591,000 132,000 1,459,000 1,750,100 1,750,100 6. Invoices for all items ordered during the prior year were received and approved for payment in the amount of $14,470. Encumbrances had been recorded in the prior year for these items in the amount of $14,000. The amount chargeable to each year's appropriations should be charged to the Public Safety appropriation. General Fund Record the reversal of encumbrances entry of 2022. Encumbrances Outstanding-2022 Encumbrances-2022 14,000 14,000 6b Record the receipt of invoices for all items ordered in prior year. Expenditures-2022 14,000 Expenditures-2023 470 Vouchers Payable 14,470 Governmental Activities Record the receipt of invoices for all items ordered in prior year. 7. Invoices were received and approved for payment for items ordered in documents recorded as encumbrances. 7a General Fund Record the reversal of encumbrances entry of 2023. 7b 7c Governmental Activities Record the receipt of invoices for all items ordered in this year. Record the receipt of invoices for all items ordered in this year. (include miscellaneous with general government) 8. Revenue other than taxes collected during the year consisted of licenses and permits, $373,000; intergovernmental revenue, $400,000; and $66,000 of miscellaneous revenues. For purposes of accounting for these revenues at the government-wide level, the intergovernmental revenues were operating grants and contributions for the Public Safety function. Miscellaneous revenues are not identifiable with any function and, therefore, are recorded as General Revenues at the government-wide level. 8 General Fund Cash Revenues Governmental Activities Cash Program Revenues-General Government Program Revenues-Public Safety General Revenues-Miscellaneous 9. A transfer of $22,000 was made to the debt service fund for principal and interest payments. 9 General Fund Governmental Activities 10. Payments on Vouchers Payable totaled $2,505,000. 10 General Fund Vouchers Payable Cash Governmental Activities a-2. Post the above transactions Into the appropriate subsidiary ledgers. CITY OF EVERGREEN General Fund Revenue Ledger Transaction Account Description Taxes 1 Budget 3 Recorded Revenues 8 Licenses and Permits Budget Recorded Revenues Intergovernmental Revenues 1 Budget 8 Recorded Revenues Miscellaneous Revenues 1 Budget 8 Recorded Revenues Est Revenues Dr Revenues (Cr) Cr (Dr) Balance Dr (Cr) CITY OF EVERGREEN General Fund Estimated Other Financing Uses Ledger Est Revenues Dr Revenues Transaction Account Description Estimated Other Financing Uses 1 Budget 9 Recorded Revenues (Cr) Cr (Dr) Balance Dr (Cr) 839,000 839,000 839,000 373,000 400,000 66,000 22,000 22,000 2,505,000 2,505,000 2,505,000 2,505,000 CITY OF EVERGREEN Appropriations/Encumbrances/Expenditures Ledger Appropriations Available Balance Encumbrances Expenditures Transaction Account/Description Debit Credit Balance Debit Balance Credit General Government 1 Budget Authorization 2 Encumbrances issued 5 Payroll 7 Invoices approved for payment Public Safety 1 Budget Authorization 2 Encumbrances issued 5 Payroll 8 Invoices for items ordered 7 Invoices approved for payment Public Works 1 Budget Authorization 2 Encumbrances issued 5 Payroll 7 Invoices approved for payment Health and Welfare 1 Budget Authorization 2 Encumbrances issued 5 Payroll 7 Invoices approved for payment 1 2 Miscellaneous Budget Authorization Encumbrances issued 5 Payroll 7 Invoices approved for payment