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The governmental funds of the City of Westchester report $557,500 in assets and $172,000 in liabilities. The following are some of the assets reported by
The governmental funds of the City of Westchester report $557,500 in assets and $172,000 in liabilities. The following are some of the assets reported by this government. Prepaid items$7,400. Cash from a bond issuance that must be spent within the school system according to the bond indenture-$96,500. Supplies$8,450. Investments given by a citizen that will be sold with the proceeds used to beautify a public park-$50,000. Cash that the assistant director of finance has designated for use in upgrading the local roads-$53,750. Cash from a state grant that must be spent to supplement the pay of local kindergarten teachers$68,000. Cash that the city council (the highest level of authority in the government) has voted to use to renovate a school gymnasium, $62,500. On a balance sheet for the governmental funds, what fund balance amounts will be reported by the City of Westchester? Fund-balancenonspendable Fund-balance-restricted Fund-balance-committed Fund-balanceassigned Fund-balanceunassigned Total fund-balance
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