1. The following information is provided about the

timer Asked: Jan 17th, 2016

Question description

1. The following information is provided about the Town’s General Fund operating statement and budgetary accounts for the fiscal year ended June 30, 2017. (Note: The Town has no restricted, committed, or assigned fund balances.)

Estimated revenues  $3,150,000

Revenues 3,190,000

Appropriations 3,185,000

Expenditures 3,175,000

Fund Balance Unassigned at the beginning of year had a $600,000 credit balance. The Budgetary Fund Balance (after the FY 2017 budget was recorded) had a $35,000 debit balance.


Calculate the end-of-year balances for the Fund Balance Unassigned and Budgetary Fund Balance accounts that would be reported on the town’s balance sheet prepared as of June 30, 2017.

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