Recording the adopted budget
Estimated Revenues 500
Appropriations Police services 450
Appropriations Police other 40
Fund Balance 10
Buy something in a 4 profit
Get a PO for the purchase 120 materials
Record nothing
Receive the stuff:
Materials 120
AP 120

Buy something in a non profit
Get a PO for the purchase 120 materials
Encumbrances 120
Reserved FB for encumbrances 120
Receive the stuff:
Expenditures 120
Vouchers Payable 120
Reserved FB for encumbrances 120
Encumbrances 120

Tax Levied
Property Taxes Receivable
Revenues Property Taxes
Receive the tax remittance
Cash
Property Taxes Receivable
Tax bills are mailed out:
Taxes Receivable 35,000,000
Revenues 34,500,000
Allow for uncoll 500,000
Collected property taxes:
Cash 444
Taxes Receivable 444
Payroll was approved and recorded:
Wages Expenditures 350
Vouchers Payable 350
Pay the workers:
Vouchers Payable 350
Cash 350
Interest and Penalties are billed against RE taxpayers who are delinquent
Interest and Penalties Receivable 20,000
_=­ Revenues 20,000

Taxes collected in advance 40k
Cash 40,000
Taxes Collected in Advance 40,000
Time passes and taxes (from above) are due
Taxes Collected in Advance 40,000
Tax Revenues 40,000
Governmental Funds:
General Fund, Special Revenue Fund, Debt Service Fund, Capital Projects fund
Proprietary Funds:
Enterprise
Internal Service funds
Account Groups
General Fixed Asset Account Group
General LT Debt Group
The CAFR consists of three sections: Introductory, Financial and Statistical.
The Introductory section orients and guides the reader through the report.
The Financial section presents the entity's basic financial statements as well as notes to the
statements and the independent auditors' report.

 

Transcribed Image Text:

Type your name here CITY OF Grafton Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual: General Fund For The Year Ended December 31, 2017 REVENUES Property Taxes Licenses and permits Intergovernmental Miscellaneous TOTAL REVENUES EXPENDITURES AND ENCUMBRANCES Current General Government Public Safety Health and Welfare TOTAL EXPENDITURES REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Transters (to) other funds TOTAL OTHER FINANCING SOURCES (USES) Excess of revenues and other sources over (under) expenditures and other uses FUND BALANCE-Beginning of Year FUND BALANCE-End of Year (Non-GAAP Budgetary Basis) Budgeted Amounts Original Final Actual Amounts Budgetary Basis Variance with Final Budget Type your name here CITY OF Grafton Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual: General Fund For The Year Ended December 31, 2017 REVENUES Property Taxes Licenses and permits Intergovernmental Miscellaneous TOTAL REVENUES EXPENDITURES AND ENCUMBRANCES Current General Government Public Safety Health and Welfare TOTAL EXPENDITURES REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Transters (to) other funds TOTAL OTHER FINANCING SOURCES (USES) Excess of revenues and other sources over (under) expenditures and other uses FUND BALANCE-Beginning of Year FUND BALANCE-End of Year (Non-GAAP Budgetary Basis) Budgeted Amounts Original Final Actual Amounts Budgetary Basis Variance with Final Budget

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