Question

Greenville has provided the following information from its General Fund Revenues and Appropriations/Expenditure/Encumbrances subsidiary ledgers for the fiscal year ended. Assume the beginning fund balances are $156 (in thousands) and that the budget was not amended during the year.

City of Greenville
General Fund
Subsidiary Ledger Account Balances (in thousands)
For the Fiscal Year
	Debits				Credits
Estimated Revenue
Taxes		6,048
Fines & Forfeits		303
Intergovernmental Revenue		504
Charges for Services		370
Revenues
Taxes						6,056
Fines & Forfeits						308
Intergovernmental Revenue						504
Charges for Services						368
Appropriations
General Government						1,638
Public Safety						3,375
Public Works						1,451
Culture & Recreation						724
Estimated Other Financing Uses
Interfund Transfers Out						53
Expenditures
General Government		1,622
Public Safety		3,358
Public Works		1,443
Culture & Recreation		714
Encumbrances
General Government		14
Public Safety		16
Public Works		7
Culture & Recreation		0
Other Financing Uses
Interfund Transfers Out		53

Required

1. Prepare a General Fund statement of revenues, expenditures, and changes in fund balance.
2. Prepare a General Fund schedule of revenues, expenditures, and changes in fund balance—budget and actual (assume the budget is prepared on a GAAP basis).

Prepare a General Fund statement of revenues, expenditures, and changes in fund balance. (Enter your answers in thousands.)

	CITY OF GREENVILLE General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances For the Fiscal Year (Amounts in Thousands) Revenues: Total Revenues Expenditures: Total Expenditures Other Financing Sources and (Uses) Change in Fund Balances Fund Balances, January 1 Fund Balances, December 31

Prepare a General Fund schedule of revenues, expenditures, and changes in fund balance—budget and actual (assume the budget is prepared on a GAAP basis). (Enter your answers in thousands. Input all amounts as positive values.)

CITY OF GREENVILLE General Fund Schedule of Revenues, Expenditures, and Changes in Fund Balances—Budget and Actual For the Fiscal Year (Amounts in Thousands) Budgeted Amounts Actual Amounts Budget Basis Variance with Final Budget Over (Under) Original Final Revenues Total Revenues Expenditures and Encumbrances Total Expenditures Excess of Revenue Over Expenditures Other Financing Sources and (Uses) Excess (Deficiency) of Revenues over expenditures and other financing sources Increase in Encumbrances outstanding Increase in Fund Balances for the Year Fund Balances, January 1 Fund Balances, December 31

Answer 1

Refer the below images for the above mentioned questions, in a detailed way of solution.

solution : Requirement @ city of Greenville - General Fund Revenues, Expenditures and changes for the fiscal year Camounts in Statement of in Fond Balances thousands Amount particulars Amount $ 6oj 6 4368 $ 504 $368 $7236 Revenues Taxes fines o forteits Inter governmental revenue charges for services Toral revenues Expenditures : General government public Safety public works Culture e recreation poral expenditures $ 1622 $ 3317 1443 $ 714 $7137 $7137 $(53) $ 46 Other Financing Sources is coses) : Interfond transfer out change in Fond balances Fond balances, January Fund balances, December 31 $156 $ 2.2

Schedule of City of Greenville General Fund Revenues, expenditures and changes in For the Fiscal year (amounts fond Balances - Budget & in thousands) Actual Reasurement 10 Actual amounts Budget Basis variance with Final Budget over (under) particolars 8 6056 368 504 $ 504 & $ 383 $ 504 $ 370 47200 369 $1638 3375 1451 7236 1636 3374 1450 714 1451 724 Budgeted Amounts -original final Revenues : Taxes $ 6048 $6048 fines y forfeits $ 303 Intergovermental Devenue Charges for Services Total Revenues 7aas Expenditures y Encombrances : General government & 1638 public safety 43375 public works culture & recrearon 4 794 Total expenditores $7189 Excess of revenues over expenditures $37 $ 37 Other Financing Sources y loses): 333 $53 Interfond transfers out Ecess of revenues over expenditures (16) $ (16) & other financing sources Increase in encombrances outstanding - increase in fond balances for the year (16) $ (16) sond balances, January 1156 1156 gond balances, December 31 $ 140 14+ $16 +57 + $0 =$37 manoela escena dela $7188 87174 $ 62 $ 53 79 $25 $37 437 $46 $156 $202 (140 $140