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. . . arded . The Board of Trustees requires that Tri-County maintain a minimum cash balance of $21. If cash is short, the agency may borrow from an endowment fund the amount required to maintain the $21 minimum. It is anticipated that the year will begin with an $24 cash balance. Contract revenue is received evenly during the year. Mental health income is expected to grow by $6 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. B Complete the cash budget for each quarter and the year as a whole. (Cash deficiency and repayments s sign. Enter your answers in thousands.) Cash Budget for Tri-County Social Service Agency (in thousands) Quarters 8 awarded . 11 III IV red 24 $ 21 $ 2 21 $ 21 $ 60 93 46 (17) X 15 15 15 15 46 52 58 58 390 331 350 570 535 512 490 647 470 349 Cash balance, beginning Receipts: Grants Contracts Mental health income Charitable donations Total cash available Less Disbursements: Salaries and benefits Office expenses Equipment purchases & maintenance Specific assistance Total disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings from endowment fund Repayments Total financing effects Cash balance, ending 96 94 84 70 10 6 5 7 25 17 19 16 597 X x 446 66 (62) (101) 12 83 0 122 O 0 0 83 (45) (45) 21 $ 122 (102) (102) 21 $ 21 21 Required 2 Required 3