Please use attached spreadsheet.

2. Develop a cash budget based on the following information about a K-12 school. Its fiscal year runs from July 1 to June 30. Cash inflow: Federal sources: $300,000, paid in January State sources: $300,000, paid bimonthly Local sources: $200,000, paid semiannually in July and January Cash outflow: Personnel services costs: $100,000 Contracted services: $10,000 School operations: $20,000 Facility operations & maintenance: $30,000 Assuming that the initial cash balance is $100,000 at the beginning of the school year and the cash safety margin is $10,000, what does the cash budget tell you? What do you do with this information? K-12 School Cash Budget November December July August September October January February March April May June TOTAL Cash Inflow Total revenue from federal sources Total revenue from state sources Total revenue from local sources Total Inflow Cash Outflow Total cost of personnel services Total cost of contracted services Total cost of school operations Total cost of facility operations & maintenance Total Outflow Net Cash Outflow Beginning Cash Balance Ending cash balance Cash safe margin Cash shortage to borrow or surplus to invest