The City of Oxbow General Fund has the following net resources at year-end: . . . $257,000 unexpended proceeds of a state grant required by law to be used for health education. $17,000 of prepaid insurance. $606,000 rainy day fund approved by city council for use under specified circumstances. $207,000 budget stabilization fund to be used in the event of revenue shortfall. $282,000 provided for contractual obligations for capital projects. $35,000 unexpended proceeds of a tax required by law to be used for emergency 911 services. $1,630,000 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 Committed E