What are allotments? What purpose do they serve?
Answer to relevant QuestionsWhy may a government’s year-end results, reported in accordance with generally accepted accounting principles, not be readily comparable with its legally adopted budget?Why do many governments consider it unnecessary to prepare appropriation budgets for, and incorporate budgetary entries into the accounts of, their capital project funds?At the start of its ﬁscal year on October 1, Fox County reported the following (all dollar amounts in thousands):Fund balance:Committed for encumbrances . $200Unassigned ......... 400Total fund balance ....... $600During ...The data presented below were taken from the books and records of the village of Denaville. All amounts are in millions. The village encumbers all outlays. As is evident from the data, some goods or services that were ...In your government, appropriations for goods and services that remain encumbered at year-end are automatically carried forward to the next year. Thus, the budget for the following year must include the amounts required to ...
Post your question