The following transactions occurred during the 2017 fiscal year for the City of Evergreen. For budgetary purposes, the city reports encumbrances in the Expenditures section of its budgetary comparison schedule for the General Fund but excludes expenditures chargeable to a prior year's appropriation.

1. The budget prepared for the fiscal year 2017 was as follows:

Estimated Revenues:

Taxes...................................................................... $1,943,000

Licenses and permits.................................................... 372,000

Intergovernmental revenue............................................. 397,000

Miscellaneous revenues................................................. 62,000

Total estimated revenues................................................ 2,774,000

Appropriations:

General government...................................................... 471,000

Public safety............................................................... 886,000

Public works............................................................... 650,000

Health and welfare........................................................ 600,000

Miscellaneous.............................................................. 86,000

Total appropriations....................................................... 2,693,000

Budgeted increase in fund balance..................................... $ 81,000

2. Encumbrances issued against the appropriations during the year were as follows:

General government............................... $ 58,000

Public safety........................................ 250,000

Public works....................................... 392,000

Health and welfare................................ 160,000

Miscellaneous..................................... 71,000

Total............................................... $931,000

3. The current year's tax levy of $2,005,000 was recorded; uncollectibles were estimated as $65,000.

4. Tax collections from prior years' levies totaled $132,000; collections of the current year's levy totaled $1,459,000.

5. Personnel costs during the year were charged to the following appropriations in the amounts indicated. Encumbrances were not recorded for personnel costs. Since no liabilities currently exist for withholdings, you may ignore any FICA or federal or state income tax withholdings.

General government.................................... $ 411,000

Public safety.............................................. 635,000

Public works.............................................. 254,000

Health and welfare......................................... 439,000

Miscellaneous............................................. 11,100

Credit to Vouchers Payable............................. $1,750,100

6. Invoices for all items ordered during the prior year were received and approved for payment in the amount of $14,470. Encumbrances had been recorded in the prior year for these items in the amount of $14,000. The amount chargeable to each year's appropriations should be charged to the Public Safety appropriation.

7. Invoices were received and approved for payment for items ordered in documents recorded as encumbrances in Transaction (2) of this problem. The following appropriations were affected.

8. Revenue other than taxes collected during the year consisted of licenses and permits, $373,000; intergovernmental revenue, $400,000; and $66,000 of miscellaneous revenues. For purposes of accounting for these revenues at the government-wide level, the intergovernmental revenues were operating grants and contributions for the Public Safety function. Miscellaneous revenues are not identifiable with any function and, therefore, are recorded as General Revenues at the government-wide level.
9. Payments on Vouchers Payable totaled $2,505,000. Additional information follows: The General Fund Balance-Unassigned account had a credit balance of $96,900 as of December 31, 2016; no entries have been made in the Fund Balance-Unassigned account during 2017.
Required
a. Record the preceding transactions in general journal form for fiscal year 2017 in both the General Fund and governmental activities general journals.
b. Prepare a budgetary comparison schedule for the General Fund of the City of Evergreen for the fiscal year ending December 31, 2017, as shown in Illustration 4-5. Do not prepare a government-wide statement of activities since other governmental funds would affect that statement.

Transcribed Image Text:

Actual Liability Estimated Liability General government Public safety Public works Health and safety Miscellaneous $ 52,700 236,200 360,000 130,600 71,000 $850,500 $52,200 240,900 357,000 130,100 71,000 $851,200