At the end of the preceding year, the General Fund of the Atlas Township School Board...

 

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At the end of the preceding year, the General Fund of the Atlas Township School Board had a fund balance of $7500, General Fund revenues and expenditures for the current year are expected to be as shown here. Determine the projected year- end fund balance for this fund. Year-to-Date Actual Remainder of Year Estimated Revenues Property taxes Out-of-township tuition 3000 Share of lottery receipts 8500 State grants Expenditures Salaries $9500 $6500 2000 7500 5000 $ 3500 $4500 4600 Fringe benefits Operating expenses Equipment Transportation Debt service 6400 2500 1500 1100 1400 500 1000 400 400 The projected year-end fund balance for this fund. Year-to-Date = $19700 The projected year-end fund balance for this fund. Year-to-Date = $16700 O The projected year-end fund balance for this fund Year-to-Date $9200 At the end of the preceding year, the General Fund of the Atlas Township School Board had a fund balance of $7500, General Fund revenues and expenditures for the current year are expected to be as shown here. Determine the projected year- end fund balance for this fund. Year-to-Date Actual Remainder of Year Estimated Revenues Property taxes Out-of-township tuition 3000 Share of lottery receipts 8500 State grants Expenditures Salaries $9500 $6500 2000 7500 5000 $ 3500 $4500 4600 Fringe benefits Operating expenses Equipment Transportation Debt service 6400 2500 1500 1100 1400 500 1000 400 400 The projected year-end fund balance for this fund. Year-to-Date = $19700 The projected year-end fund balance for this fund. Year-to-Date = $16700 O The projected year-end fund balance for this fund Year-to-Date $9200

Answer rating: 100% (QA)

Fund balance at the end of the year is to be calculated as all the revenues minus all the expe... View the full answer