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Budgetary Info

Estimated Revenues $-5,824,000$

Appropriations $-5,800,000$

Estimated Other financing Uses $-35,000$

Beginning Balances

$1.$ Make entry to record annual budget

Estimated Revenues $5,824,000$

Budgetary Fund Balance $5,800,000$

Estimated other Financing Uses $35,000$

$2.$ All of remaining delinquent taxes were collected $(2$ entries$)$

Cash

Taxes Receivable $-$ Delinquent

Interest and Penalties Receivable

Deferred Inflow Flow of Resources $-$ Unavailable Revenues

Revenues

$3.$ Town of ridgeville levied taxes amounting to $$5,200,000$ with $2\%$ estimated to be uncollectible

Taxes Receivable $-$ Current $$5,200,000$

Allowance for Current Uncollectable Taxes $$10,400$

Revenues $$5,190,600$

$4.$ $$35,000$ was transferred to the capital projects fund

$5.$ Property taxes were received amounting to $$5,075,000$

Cash $$5,075,000$

Taxes Receivable $-$ Current $$5,075,000$

$6.$ Purchase orders and contracts were issued amounting to $$4,976,000$

$7.$ The town collected other fines and fees amounting to $$730,000$

$8.$ Total salaries paid for the year totaled $$840,000($ignore payroll taxes$)$

$9.$ All purchase orders and contracts were completed for $$4,971,000$

Encumbrances $$4,971,000$

Encumbrances Outstanding $$4,971,000$

$10.$ The purchase orders in #$9$ were all paid

Encumbrances Outstanding $$4,971,000$

Encumbrances $$4,971,000$

$11.$ Reclassify any remaining current taxes as delinquent

Taxes Receivable $-$ Deliquent Taxes

Allowance for Uncollectible

Taxes Receivable $-$ Current Taxes

Allowance for Uncollectible Deliquent Taxes

$12.$ Close the budget

$13.$ Close the books.

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