2. The Department of Streets and Parkways (S&P) took bids to purchase several items of equipment. The lowest bid came in at $105,000, which was greater than the amount appropriated for equipment. Jeter City’s budget director, who had the authority to interchange budgetary appropriations amounts within a department, authorized a $10,000 reduction in the department’s personal services appropriation and a corresponding increase in the equipment appropriation.
3. S&P entered into contract S&P 2022a for $105,000, charging the equipment appropriation.
4. S&P issued PO 22-1 for asphalt in the amount of $15,000, charging the operating supplies appropriation.
5. S&P received the equipment, and after inspecting all the items, approved the $105,000 invoice (related to the contract in number 3) for payment.
6. S&P received the asphalt and approved the invoice of $15,000 for payment.

 

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The following transactions and events that occurred in Jeter City during calendar year 2022. 1. The city council adopted the following budget: Adopted Budget Revenues Property taxes $2,500,000 Sales taxes 1,400,000 Use of fund balance 50,000 Total $3,950,000 Appropriations: Streets and parkways: Personal services $780,000 Equipment 95,000 Operating supplies 125,000 All other appropriations 2,950,000 Total $3,950,000 The following transactions and events that occurred in Jeter City during calendar year 2022. 1. The city council adopted the following budget: Adopted Budget Revenues Property taxes $2,500,000 Sales taxes 1,400,000 Use of fund balance 50,000 Total $3,950,000 Appropriations: Streets and parkways: Personal services $780,000 Equipment 95,000 Operating supplies 125,000 All other appropriations 2,950,000 Total $3,950,000

Answer rating: 100% (QA)

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