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The following information was available for the General Fund of the City of Thomasville for the Year Ended December 31, 2017: Revenues for the year
The following information was available for the General Fund of the City of Thomasville for the Year Ended December 31, 2017:
- Revenues for the year included property taxes in the amount of $6,612,000, fines and forfeits in the amount of $ 700,000, and miscellaneous in the amount of $400,000.
- Expenditures from current appropriations included: general government, $4,847,000; public safety, $1,884,000; culture and recreation, 812,000.
- In addition to (b) above, expenditures related to prior year appropriations (encumbered last year) amounted to $40,000 (public safety). Encumbrances issued this year but not filled amounted to $60,000 (general government).
- A transfer was made from the General Fund to a debt service fund in the amount of $500,000. A transfer was made from an enterprise fund to the General Fund in the amount of $450,000.
- A sale of park land was made during the year, which was considered infrequent but not unusual and under the control of management. The proceeds amounted to $126,000, and the land had a basis of $90,000 reported in the government-wide Statement of Net Position the year before.
- Beginning balances included Fund Balance in the amount of $222,000.
Required: Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balances for the General Fund for the City of Thomasville for the Year Ended December
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