Computing Available Funds

As the newly$-$hired assistant controller for the City of Lancaster, you are asked to determine the amount of available funds. After consulting your assistant and the city treasurer, you begin to analyze the following information from general fund accounts.

$($in thousands$)$ Dr $($Cr$)$

Cash in bank $$100,000$

Estimated revenue $5,800,000$

Budgetary surplus $(60,000)$

Revenue $(5,200,000)$

Expenditures $4,900,000$

Accounts payable $(500,000)$

Fund balance$-$assigned$*(400,000)$

Fund balance$-$unassigned $(250,000)$

$*$Assigned fund balance consists of outstanding encumbrances.

Calculate the funds available to be encumbered.