Given the following information, you have been asked to record the budget for the general fund of the city of Jackson.
1. In flows for 2018 are expected to total $402,000 and include property tax revenue of $205,000, fines of $7,000, state grants of $90,000, and bond issue proceeds of $100,000.
2. Expenditures for general operations and equipment purchases for the year are estimated to be $500,000.
3. Authorized transfers include $20,000 to the debt service fund to pay interest on bond indebtedness and $10,000 to the capital projects fund to pay for cost overruns on construction of a new civic center.
4. Additional estimated receipts include a $15,000 operating transfer from the special revenue fund and a $50,000 payment from the Electric Utility Enterprise Fund for property taxes.