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The governmental funds of the City of Westchester report $603,500 in assets and $201,000 in liabilities. The following are some of the assets reported by
The governmental funds of the City of Westchester report $603,500 in assets and $201,000 in liabilities. The following are some of the assets reported by this government.
- Prepaid items$15,200.
- Cash from a bond issuance that must be spent within the school system according to the bond indenture$117,500.
- Supplies$6,100.
- Investments given by a citizen that will be sold with the proceeds used to beautify a public park$44,000.
- Cash that the assistant director of finance has designated for use in upgrading the local roads$60,500.
- Cash from a state grant that must be spent to supplement the pay of local kindergarten teachers$72,250.
- Cash that the city council (the highest level of authority in the government) has voted to use to renovate a school gymnasium$66,000.
On a balance sheet for the governmental funds, what fund balance amounts will be reported by the City of Westchester?
Fund-balancenonspendable
Fund-balancerestricted
Fund-balancecommitted
Fund-balanceassigned
Fund-balanceunassigned
Total fund-balance$0
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