Below is a pre-closing trial balance as of December 31, 2017:

	Debits	Credits
Accounts payable		6,800
Appropriations		160,000
Budgetary fund balance		38,000
Budgetary fund balance: reserve for encumbrances		5,000
Cash	116,500
Deferred revenues: property taxes		3,000
Due to other funds		5,000
Encumbrances	5,000
Estimated other financing sources	8,000
Estimated other financing uses		10,000
Estimated revenues	200,000
Estimated uncollectible taxes		2,000
Expenditures	154,000
Fund balance		54,700
Other financing sources		10,000
Other financing uses	11,000
Revenues		199,000
Tax anticipation notes payable		30,000
Taxes receivable	29,000
Totals	523,500	523,500

Please provide the following:

1. Required closing entries
2. Balance sheet for the general fund. Assume outstanding encumbrances are assigned; $3,000 of the fund balance is committed; and $20,000 of the fund balance is restricted.
3. Interpret the financial position of the village.