Question
The following General Fund information is available for the preparation of the financial statements for the City of Eastern Shores for the year ended September
The following General Fund information is available for the preparation of the financial statements for the City of Eastern Shores for the year ended September 30, 2020:
| Revenues: | |||
| Property taxes | $ | 27,210,000 | |
| Sales taxes | 13,343,000 | ||
| Fees and fines | 1,352,000 | ||
| Licenses and permits | 1,750,000 | ||
| Intergovernmental | 2,395,000 | ||
| Investment earnings | 681,000 | ||
| Expenditures: | |||
| Current: | |||
| General government | 11,735,000 | ||
| Public safety | 24,455,000 | ||
| Public works | 6,223,000 | ||
| Health and sanitation | 1,175,000 | ||
| Culture and recreation | 2,167,000 | ||
| Transfer to capital project fund | 1,131,000 | ||
| Special itemproceeds from sale of land | 835,000 | ||
| Fund balance, October 1, 2019 | 1,823,000 | ||
From the information given above, prepare a General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances for the City of Eastern Shores General Fund for the year ended September 30, 2020. (Negative entries should be entered with a minus sign and will appear in parenthesis.)
| CITY OF EASTERN SHORES | ||
| General Fund Statements of Revenues, | ||
| Expenditures, and Changes in Fund Balance | ||
| For the Year Ended September 30, 2020 | ||
| Revenues: | ||
| Property Taxes | ||
| Sales Taxes | ||
| Fees and Fines | ||
| Licenses and Permits | ||
| Intergovernmental Revenues | ||
| Investment Earnings | ||
| Total Revenues | ||
| Expenditures: | ||
| Current: | ||
| General Government | ||
| Public Safety | ||
| Public Works | ||
| Health and Sanitation | ||
| Culture and Recreation | ||
| Total Expenditures | ||
| Excess of Revenues Over Expenditures | ||
| Other Financing Sources (Uses): | ||
| Transfer to Capital Project Fund | ||
| Total Other Financing Sources (Uses) | ||
| Special Item: Proceeds From Sale of Land | ||
| Net Change in Fund Balance | ||
| Fund Balance, Beginning of Year | ||
| Fund Balance, End of Year | ||
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Internal Auditing Assurance And Advisory Services
Authors: Kurt R. Reding, Paul J. Sobel, Urton L. Anderson, Michael J. Head, Sridhar Ramamoorti, Mark Salamasick, Cris Riddle
3rd Edition
0894137409, 978-0894137402
