Use the Comprehensive Annual Financial Report for the Village of Arlington Heights (please look up this content) for the year ended December 31, 2018,
Use the Comprehensive Annual Financial Report for the Village of Arlington Heights (please look up this content) for the year ended December 31, 2018, to answer questions 8-20. All questions are on the general fund of the Village. Hints: Examine the balance sheet on page 27, note 2, and the budgetary comparison schedules on pages 116-124. 14. What disclosure on the general fund balance sheet would indicate that the Village had "rainy day" funds to finance the budget hole? State the disclosure and its dollar amount. 15. What amount of revenue was expected by the general fund in 2018 from the Village's share of taxes collected by the State of Illinois? Show each tax and its amount. 16. What was the total amount of expenditures incurred in 2018 that were not budgeted? State the specific line item affected and the total amount. 17. In the subsidiary revenues ledger, how many subsidiary ledger accounts are needed for permits?
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To answer questions 14 to 17 based on the Village of Arlington Heights Comprehensive Annual Financial Report CAFR for the year ended December 31 2018 lets refer to the relevant sections of the report ...See step-by-step solutions with expert insights and AI powered tools for academic success
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