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Oxford Citys General Fund has the following net resources at year end:
$681,000 total fund balance
$130,000 rainy day fund approved by the township governing board
$2,100 of supplies inventory
$160,000 contractual obligations for capital projects
$87,200 state grant for snow removal
$64,000 of outstanding encumbrances representing purchase orders which will be paid from the General Fund
Required: Prepare the fund balance section of the Balance Sheet
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