The governmental funds of the City of Westchester report $579,000 in assets and $169,000 In...
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The governmental funds of the City of Westchester report $579,000 in assets and $169,000 In liabilities. The following are some of the assets reported by this government. points Prepaid items-$13,500. Cash from a bond issuance that must be spent within the school system according to the bond Indenture-$115,000. Supplies-$7,400. Investments given by a citizen that will be sold with the proceeds used to beautify a public park-$52,750. Cash that the assistant director of finance has designated for use in upgrading the local roads-$43,250. Cash from a state grant that must be spent to supplement the pay of local kindergarten teachers$64,250. Cash that the city council (the highest level of authority in the government) has voted to use to renovate a school gymnasium, $81,000. eBook Print On a balance sheet for the governmental funds, what fund balance amounts will be reported by the City of Westchester? References Fund-balance-nonspendable Fund-balance-restricted Fund-balance-committed Fund-balance-assigned Fund-balance-unassigned Total fund balance
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