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The governmental funds of the City of Westchester report $ 5 2 8 , 5 0 0 in assets and $ 1 4 6 ,
The governmental funds of the City of Westchester report $ in assets and $ in liabilities. Note: the net of these amounts "assets" minus "liabilities" represents the "total fund balance" which must be allocated across the five fund balance categories The following are some of the assets that the government reports.
Prepaid items$
Cash from a bond issuance that must be spent within the school system according to the bond indenture$
Supplies$
Investments given by a citizen that will be sold soon with the proceeds used to beautify a public park$
Cash that the assistant director of finance designated for use in upgrading the local roads$
Cash from a state grant that must be spent to supplement the pay of local kindergarten teachers$
Cash that the city council the highest level of decisionmaking authority in the government voted to use in renovating a school gymnasium$
Required:
On a balance sheet for the governmental funds, what fund balance amounts should the City of Westchester report?
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