CROTON CITY Library Special Revenue Fund Preclosing Trial Balance December 31, 2022 Part DChapter 9-Prepare Fund...

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CROTON CITY Library Special Revenue Fund Preclosing Trial Balance December 31, 2022 Part DChapter 9-Prepare Fund Financial Statements and Schedule Prepare a govemmental funds balance sheet; a governmental funds statement of revenues, expenditures, and changes in fund balances; and a General Fund budgetary comparison schedule. In the budgetary comparison schedule, include a column for variances. To ease financial statement preparation, we supply you with the pre- closing trial balances for Croton City's General Fund, Library Special Revenue Fund, Capital Projects Fund, and Debt Service Fund. Consider all funds as major funds for this exercise and classify the fund balance for the Debt Service Fund as Assigned fund balance. In addition, make calculations to determine which of the funds would be considered as nonmajor if Croton had not considered all of them to be major. Preclosing Trial Balances for Each Governmental Fund (in thousands) CROTON CITY General Fund Preclosing Trial Balance December 31, 2022 Debits Credits (in thousands) Cash.. Restricted fund balance Transfer in from General Fund. Intergovernmental revenues-grants. Revenues-miscellaneous.. Expenditures-culture salaries. Expenditures-culture supplies Totals Budgetary Accounts Estimated revenues-property taxes... Estimated revenues-personal income taxes Estimated revenues-intergovernmental. Estimated revenues-recreation fees Budgetary fund balance. Appropriations-public safety salaries. $ 9,000 5,000 1,000 600 600 Appropriations-public safety supplies. 7,100 500 CROTON CITY Capital Projects Fund Preclosing Trial Balance December 31, 2022 Appropriations-public works salaries 5,000 Appropriations-parks salaries... 2,300 Appropriations-transfer to Library Fund. 100 Appropriations-transfer to Debt Service Fund. 1,200 Encumbrances. 150 Budgetary fund balance reserved for encumbrances. 150 Financial Accounts Cash. 1,050 (in thousands) Intergovernmental revenues-grants.. Other financing source-long-term debt issued. Expenditures-construction costs Expenditures-architect/supervision fees Totals Property taxes receivable-delinquent. 930 Income taxes receivable.. 700 Allowance for uncollectible property taxes-delinquent 30 Income tax refunds payable.. 300 Salaries payable.... 700 Accrued vacation pay payable. 10 Deferred inflow of resources-unavailable property taxes. 400 Unassigned fund balance.. 1,600 CROTON CITY Debt Service Fund Preclosing Trial Balance December 31, 2022 Revenues-property taxes. 8,880 Revenues-personal income taxes. 5,000 (in thousands) Intergovernmental revenues-grants. 1,000 Revenues-recreation fees 700 Expenditures-public safety salaries 7,060 Expenditures-public safety supplies. 330 Expenditures-public works salaries. 4,950 Expenditures-parks salaries.. 2,300 Cash... Transfer in from General Fund. Expenditures-interest... Expenditures-bond principal. Totals. Transfer out to Library Special Revenue Fund.. Transfer out to Debt Service Fund 100 1,200 Totals $34,970 $34,970 Debits Credits $ 35 $ - 100 300 1888 20 5 $425 $425 Debits Credits $ $1,000 2,000 2,800 200 $3,000 $3,000 Debits $ 30 Credits $ 1,200 520 650 $1,200 $1,200 CROTON CITY Library Special Revenue Fund Preclosing Trial Balance December 31, 2022 Part DChapter 9-Prepare Fund Financial Statements and Schedule Prepare a govemmental funds balance sheet; a governmental funds statement of revenues, expenditures, and changes in fund balances; and a General Fund budgetary comparison schedule. In the budgetary comparison schedule, include a column for variances. To ease financial statement preparation, we supply you with the pre- closing trial balances for Croton City's General Fund, Library Special Revenue Fund, Capital Projects Fund, and Debt Service Fund. Consider all funds as major funds for this exercise and classify the fund balance for the Debt Service Fund as Assigned fund balance. In addition, make calculations to determine which of the funds would be considered as nonmajor if Croton had not considered all of them to be major. Preclosing Trial Balances for Each Governmental Fund (in thousands) CROTON CITY General Fund Preclosing Trial Balance December 31, 2022 Debits Credits (in thousands) Cash.. Restricted fund balance Transfer in from General Fund. Intergovernmental revenues-grants. Revenues-miscellaneous.. Expenditures-culture salaries. Expenditures-culture supplies Totals Budgetary Accounts Estimated revenues-property taxes... Estimated revenues-personal income taxes Estimated revenues-intergovernmental. Estimated revenues-recreation fees Budgetary fund balance. Appropriations-public safety salaries. $ 9,000 5,000 1,000 600 600 Appropriations-public safety supplies. 7,100 500 CROTON CITY Capital Projects Fund Preclosing Trial Balance December 31, 2022 Appropriations-public works salaries 5,000 Appropriations-parks salaries... 2,300 Appropriations-transfer to Library Fund. 100 Appropriations-transfer to Debt Service Fund. 1,200 Encumbrances. 150 Budgetary fund balance reserved for encumbrances. 150 Financial Accounts Cash. 1,050 (in thousands) Intergovernmental revenues-grants.. Other financing source-long-term debt issued. Expenditures-construction costs Expenditures-architect/supervision fees Totals Property taxes receivable-delinquent. 930 Income taxes receivable.. 700 Allowance for uncollectible property taxes-delinquent 30 Income tax refunds payable.. 300 Salaries payable.... 700 Accrued vacation pay payable. 10 Deferred inflow of resources-unavailable property taxes. 400 Unassigned fund balance.. 1,600 CROTON CITY Debt Service Fund Preclosing Trial Balance December 31, 2022 Revenues-property taxes. 8,880 Revenues-personal income taxes. 5,000 (in thousands) Intergovernmental revenues-grants. 1,000 Revenues-recreation fees 700 Expenditures-public safety salaries 7,060 Expenditures-public safety supplies. 330 Expenditures-public works salaries. 4,950 Expenditures-parks salaries.. 2,300 Cash... Transfer in from General Fund. Expenditures-interest... Expenditures-bond principal. Totals. Transfer out to Library Special Revenue Fund.. Transfer out to Debt Service Fund 100 1,200 Totals $34,970 $34,970 Debits Credits $ 35 $ - 100 300 1888 20 5 $425 $425 Debits Credits $ $1,000 2,000 2,800 200 $3,000 $3,000 Debits $ 30 Credits $ 1,200 520 650 $1,200 $1,200