Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
City of Monroe
Street and Highway Fund - General Ledger
DUE FROM
reference
Account Titles Debits Credits CASH INVESTMENTS STATE GOV'T
bb 21,000 bb 59,000 bb 109,000
3-C Estimated Revenues 1,068,000 2
985,000 11,072,000
Appropriations 1,047,000 55,120 985,000 2
Budgetary Fund Balance 21,000
923,000 6
4-C 1 Due From State Government 1,072,000
88,120 59,000 196,000
Intergovernmental Revenues 1,072,000
Due from State Government 985,000 ACCOUNTS PAYABLE (beginning of year)
9,000 bb 180,000 bb
3 Encumbrances 1,062,000
1,030,500 4
Budgetary F/B - Reserve for Encumbrances 1,062,000 6
923,000
4 Budgetary Fund Balance - Reserve for Encumbrances 1,043,000 116,500 180,000
Encumbrances 1,043,000
REVENUES REVENUES EXPENDITURES - STREET
4 Expenditures- Street and Highway Maintenance 1,030,500 INTERGOVERNMENTAL INVESTMENT INTEREST & HIGHWAY MAINTENANCE
Accounts Payable 1,030,500 1,072,000 15,120 5
4
1,030,500
5 Cash 5,120
Revenues - Interest on Investments 5,120
1,072,000 5,120
1,030,500
6 Accounts Payable 923,000
Cash 923,000 BUDGETARY ACCOUNTS
BUDGETARY
7 Budgetary Fund Balance 4,500 ESTIMATED REVENUES APPROPRIATIONS FUND BALANCE
Appropriations 4,500 c-3 1,068,000 1,047,000 c-3 21,000 c-3
4,500 7 7 4,500
debits = credits ??? 7,193,120 7,193,120 1,068,000 1,051,500 16,500
BUDGETARY FUND BALANCE
RESERVE FOR ENCUMBRANCES
RESERVE FOR ENCUMBRANCES ENCUMBRANCES
- bb 31,062,000
1,062,000 31,043,000 4
4
1,043,000
19,000
19,000
Total Debits 2,460,620
Total Credits 2,460,620
City of Monroe
STREET HIGHWAY MAINTENANCE FUND - Closing Entries
BUDGETARY
Account Title Debits Credits FUND BALANCE
16,500 Preclosing
Appropriations 1,051,500
16,500 closing entry
Budgetary fund balance 16,500
Estimated Revenues 1,068,000
-
Revenues - Intergovernmental 1,072,000
Revenues- Investment Interest 5,120
FUND BALANCE
Fund balance 46,620
180,000 Preclosing
Expenditures- Street & Highway Maintenance 1,030,500
46,620 closing entry
Budgetary Fund Balance - Reserve for 19,000
Encumbrances
Encumbrances Control 19,000
226,620 ending balance
Complete the following table
Non-spendable Restricted Committed Assigned Unassigned Total
City of Monroe
Statement of Revenues, Expenditures and Changes in Fund Balance
Street and Highway Maintenance Fund
For the year ended December 31, 2015
Revenues
Intergovernmental Revenues 1,072,000
Interest on Investments 5,120
Total Revenues 1,077,120$
Expenditures
Current:
Street & Highway Maintenance 1,030,500
Total Expenditures 1,030,500
Excess (Deficiency) of Revenues Over Expenditures 46,620
Fund Balance, January 1 180,000
Fund Balance, December 31 226,620$
City of Monroe
Street Highway Maintenance Fund
Balance Sheet
As of December 31, 2015
Assets
Cash 88,120$
Investments 59,000
Due from State Government 196,000
Total Assets 343,120$
Liabilities and Fund Equity
Liabilities
Accounts Payable 116,500$
Fund Equity
Fund Balance - Restricted for
Street and Highway Maintenance 226,620
Total Liabilities and Fund Equity 343,120$
