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

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.)

  • CreatedOctober 25, 2014
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