Selected data for the Town of Blacksburg, Virginia, General Fund for the fiscal year ended June 30, 20X7, are presented in the following table. The town€™s budgetary basis is the modified accrual basis except that encumbrances are treated as budgetary expenditures when the encumbrance is established, not when the goods or services are received.
Town of Blacksburg, Virginia
General Fund
Selected Information
For the Year Ended June 30, 20X7

Required
Prepare the Statement of Revenues, Expenditures, and Changes in Fund Balance€”Budget and Actual for the General Fund of the Town of Blacksburg, Virginia, for the year ended June 30, 20X7.
(This case is based on a recent Comprehensive Annual Financial Report of the Town of Blacksburg,Virginia.)

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ncumbranc Original Budget Actual Budget Revisions (GAAP) eginning Ending Revenues Gencral property taxes. ...$3,622 6,596 3,724 6,781 1,370 880 4,422 13,225 8,223 1,944 265 Other local taxes Permits and fees 840 Charges for services. 1,866 311 150 532 Fines and forfeitures. Investment eamings . 574 13,225 23,849 Expenditures 179 39 179 40 79 (49) 1,912 Legal Judicial Financial services. _ . Technology 4 1,249 378 37 1,249 378 (160) 5,241 25 340 683 4,008 54 92 952 46 4.008 1,434 1,373 755 42 101 Planning and engineering... Community development.... Contingency. .. . 1,373 755 42 504 543 (41) 264 350 Total expenditures. 17499 1,830 7500 $1,402 $1,672 Excess of revenues over 11,3956,349 $607 607 424 1,200 $1,205 $1,624 expenditures. Other Financing Sources (Uses) (2,000) (12,351) 6532) 125 (349) Net change in fund balances... Budgetary fund balance, 1,554 1,554 Budgetary fund balance,