The City of Oxbow General Fund has the following net resources at year$-$end:

$$199,000$ unexpended proceeds of a state grant required by law to be used for health education.

$$7,000$ of prepaid insurance.

$$600,000$ rainy day fund approved by city council for use under specified circumstances.

$$200,000$ budget stabilization fund to be used in the event of revenue shortfall.

$$275,000$ provided for contractual obligations for capital projects.

$$26,000$ unexpended proceeds of a tax required by law to be used for emergency $911$ services.

$$1,559,000$ total fund balance.

Required:

Prepare the fund balance section of the Balance Sheet.

$\backslash$table$[[$CITY OF OXBOW,$],[$Partial Balance Sheet $-$ General Fund,$],[$As of December $31,2020,],[$Fund Balances,$],[$Nonspendable$,],[,]]$