Tri-County Social Service Agency is a not-for-profit organization in the Midwest. Use the following information to...

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Tri-County Social Service Agency is a not-for-profit organization in the Midwest. Use the following information to complete the cash budget for the year ending December 31. The Board of Trustees requires that Tri-County maintain a minimum cash balance of $19. If cash is short, the agency may borrow from an endowment fund the amount required to maintain the $19 minimum. It is anticipated that the year will begin with an $22 cash balance. Contract revenue is received evenly during the year. Mental health income is expected to grow by $5 in the second and third quarters; no change is expected in the fourth quarter. Required: 2. Complete the cash budget for each quarter and the year as a whole. 3. Determine the amount that the agency will owe the endowment fund at year-end. Complete this question by entering your answers in the tabs below. Required 2 Required 3 Complete the cash budget for each quarter and the year as a whole. (Cash deficiency and repayments should be indicated by a minus sign. Enter your answers in thousands.) Cash Budget for Tri-County Social Service Agency Cash balance, beginning Receipts: (in thousands) Quarters || IV Year $ 22 $ 22 Grants 65 94 Contracts Mental health income Charitable donations Total cash available 239 120 48 217 420 330 550 512 477 Less Disbursements: Salaries and benefits 346 1,804 Office expenses 98 91 80 348 Equipment purchases & maintenance 5 9 4 28 Tri-County Social Service Agency is a not-for-profit organization in the Midwest. Use the following information to complete the cash budget for the year ending December 31. The Board of Trustees requires that Tri-County maintain a minimum cash balance of $19. If cash is short, the agency may borrow from an endowment fund the amount required to maintain the $19 minimum. It is anticipated that the year will begin with an $22 cash balance. Contract revenue is received evenly during the year. Mental health income is expected to grow by $5 in the second and third quarters; no change is expected in the fourth quarter. Required: 2. Complete the cash budget for each quarter and the year as a whole. 3. Determine the amount that the agency will owe the endowment fund at year-end. Complete this question by entering your answers in the tabs below. Required 2 Required 3 Complete the cash budget for each quarter and the year as a whole. (Cash deficiency and repayments should be indicated by a minus sign. Enter your answers in thousands.) Cash Budget for Tri-County Social Service Agency Cash balance, beginning Receipts: (in thousands) Quarters || IV Year $ 22 $ 22 Grants 65 94 Contracts Mental health income Charitable donations Total cash available 239 120 48 217 420 330 550 512 477 Less Disbursements: Salaries and benefits 346 1,804 Office expenses 98 91 80 348 Equipment purchases & maintenance 5 9 4 28

Answer rating: 100% (QA)

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