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Exercise 10-38 Cash Budgeting: Not-for-Profit (NFP) Context [LO 10-6] Tri-County Social Service Agency is a not-for-profit organization in the Midwest. Use the following information to complete the cash budget for the year ending December 31. The Board of Trustees requires that Tri-County maintain a minimum cash balance of $8,000. If cash is short, the agency may borrow from an endowment fund the amount required to maintain the $8,000 minimum. It is anticipated that the year will begin with an $11,000 cash balance. Contract revenue is received evenly during the year. Mental health income is expected to grow by $5,000 in the second and third quarters, no change is expected in the fourth quarter. Required: 2. Complete the cash budget for each quarter and the year as a whole. 3. Determine the amount that the agency will owe the endowment fund at year-end. Complete this question by entering your answers in the tabs below. Required 2 Required 3 Complete the cash budget for each quarter and the year as a whole. (Cash deficiency and repayments should be indicated by a minus sign. Enter your answers in thousands.) IV Year 11 80 300 20 105 400 333 TRI-COUNTY SOCIAL SERVICE AGENCY Quarterly and Annual Cash Budget (in thousands) Quarters I ll III Cash balance, beginning $ 111 Receipts: Grants 70 Contracts Mental health income Charitable donations 250 200 Total cash available 473 Less Disbursements: Salaries and benefits Office expenses 70 71 Equipment purchases & maintenance 6 Specific assistance 1518 Total disbursements Excess (deficit) of cash available over disbursements (46) Financing: Borrowings from endowment fund 112 Repayments (39) Total financing effects Cash balance, ending 342 50 1,365 256 17 T Required 2 Required 3 > Required 2 Required 3 Determine the amount that the agency will owe the endowment fund at year-end. Amount owed to endowment fund