The City of Bernard starts the year of 2024 with the following unrestricted amounts in its general fund: cash of $23,750 and investments of $80,250. In addition, it holds a small building bought on January 1, 2023, for general government purposes for $364,000 and a related long-term debt of $291,200. The building is depreciated on the straight-line method over 10 years. The annual interest rate on the debt is 10 percent. The general fund has four separate functions: general government, public safety, public works, and health and sanitation. Other information includes the following: Receipts: Property taxes Sales taxes Dividend income Charges for general government services $ 555,000 105,700 27,000 15,600 Charges for public safety services 10,250 Charges for public works 4,200 Charges for health and sanitation services 37,100 Charges for landfill 11,650 Grant to be used for salaries for health workers (no eligibility requirements) 34,900 Issued long-term note payable 227,000 Sold investments (mentioned above) 97,150 Receivables at year-end: Property taxes ($18,600 is expected to be 176,000 uncollectible) Payments: Salary: General government 97,500 Public safety 101,500 Public works 75,750 Health and sanitation (all from grant) 29,800 Utilities: General government 11,000 Public safety 16,450 Public works 16,500 Health and sanitation 5,400 Insurance: General government 33,200 Public safety 19,700 Public works (all prepaid as of the end of the year) 8,700 Health and sanitation 5,100 Miscellaneous: General government 16,900 Public safety 18,100 Public works 12,250 Health and sanitation 10,300 Interest on previous debt 29,120 Principal payment on previous debt 15,000 Interest on new debt 20,430 Building (public works) 222,000 Equipment (public safety) 105,000 Public works supplies (30% still held) 23,600 Investments 122,000 Ordered but not received: Equipment 28,750 Supplies 11,300 Salaries: Due at end of year: General government 14,700 Public safety 18,050 Public works 5,700 On the last day of the year, the city borrows $68,000 from a local bank and uses the money to buy a truck. The first payment on the loan (plus interest) will be made at the end of the next year. The city opens a landfill this year that it records within its general fund. It is a public works function. Closure costs today is estimated as $306,500 although officials do not expect the landfill to be filled for nine more years. The city has incurred no costs to date. The landfill is now 15 percent filled. For the equipment and supplies that were ordered but not yet received, the City Council (the highest decision-making body in the government) has voted to honor the commitment when the items arrive. The new building is depreciated over 20 years using the straight-line method and no residual value. Depreciation of the