The City of Oxbow General Fund has the following net resources at year-end: $260,000 unexpended proceeds of a state grant required by law to be used for health education $20,000 of prepaid insurance. $609,000 rainy day fund approved by city council for use under specified circumstances. $210,000 budget stabilization fund to be used in the event of revenue shortfall. $285,000 provided for contractual obligations for capital projects. $41,000 unexpended proceeds of a tax required by law to be used for emergency 911 services. $1,636,000 total fund balance. . Required: Prepare the fund balance section of the Balance Sheet. CITY OF OXBOW Partial Balance Sheet - General Fund As of December 31, 2020 Fund Balances Nonspendable Restricted