City of Bingham
Solution Page Images
for
Required Trial Balances, Financial
Statements and Schedules, and
Reports and Analyses
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Requirement 4-b
Assets
Cash $1,113,022
Taxes Receivable—Delinquent 534,000$
Less: Allowance for Uncollectible Delinquent Taxes 295,750 238,250
Interest and Penalties Receivable on Taxes 57,479
City of Bingham
General Fund
Balance Sheet
As of December 31, 2017
Requirement 4-c
Revenues
Taxes—property 6,600,000$
Taxes—sales 748,000
Interest and penalties on taxes 46,080
Expenditures
General government 1,707,316$
Public safety 3,457,294
City of Bingham
Statement of Revenues, Expenditures, and Changes in Fund Balances
General Fund
For the Year Ended December 31, 2017
Requirement 4-d
Variance with
Actual Amounts Final Budget
Original Final Budget Basis Over(Under)
Revenues
Taxes—real property 6,600,000$ 6,600,000$ 6,600,000$ –$
Taxes—sales 750,000 750,000 748,000 (2,000)
Interest and penalties on taxes 47,000 47,000 46,080 (920)
Expenditures
General government 1,710,000 1,710,000 1,708,256 (1,744)
Public safety 3,485,000 3,465,000 3,463,694 (1,306)
Excess of Revenues Over Expenditures
and Encumbrances
437,000 528,500 527,982 (518)
Other Financing Sources (Uses) (50,000) (50,000) (50,000)
Budgeted Amounts
City of Bingham
Statement of Revenues, Expenditures, and Changes in Fund Balances-Budget and Actual
For the Year Ended December 31, 2017
General Fund
Requirement 4-d
City of Bingham
General Fund
Reconciliation of Total Expenditures to Total Expenditures and Encumbrances
For the Year Ended December 31, 2017