Question

The following information is extracted from the General Fund column of a city’s fund financial statements. Compute the city’s budgetary cushion. Based on your computation and the textbook discussion of the budgetary cushion rule of thumb, assess the city’s ability to withstand a potential near- term economic contraction.
Fund balance: Nonspendable.......... $ 85,392
Unassigned ................. 423,185
Total fund balance ............... $ 508,577
Revenues: Property taxes ............ $ 12,480,500
Sales taxes .................. 14,325,700
Other revenues ................. 1,683,800
Total revenues ................. $ 28,490,000



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  • CreatedDecember 30, 2014
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