E2-19 Fund Balance Classifications [LO 2-2] Section A provides a list of the results of Georgetown's analysis of its fund balances at its fiscal year end. Section B provides a list of the possible classifications for reporting the items listed in Section A. Required Using the choices provided in Section B, choose the classification of reporting that would most likely be used in the situations given in Section A Section A Section B 1. At year end a special revenue fund has a $50,000 fund balance on which there are no constraints. 2Georgetown has a $1,000,000 emergency reserve fund set aside. According to the town ordinance, funds can only be used 3. Georgetown determined that the General Fund has $22,000 in inventory it should report on its fund financial statements 4. 5. from this fund with approval of two-thirds of the town council Georgetown issued bonds that sold at a premium. Using the authority allowed her by the governing body, the city manager made the decision to set aside the $100,000 premium to pay the principal on the debt when it comes due in a future period The federal government has provided a grant for emergency housing assistance that can only be used for low income families. Georgetown determined $250,000 of the grant funds remained at year-end