The Thomasville Township General Fund has the following net resources at the end of the year:

• $69,000 of prepaid insurance
• $410,000 emergency fund approved by the municipal government board with specific conditions for its use
• $1,800 of supply inventory
• $60,000 state grant for snow removal
• $150,000 contractual obligations for the purchase of equipment
• Pending lien of $105,000 for the purchase of furniture and furnishings (without assuming a contractual obligation)
• Total fund balance is $1,010,500

What would be the total unallocated fund balance?

Answer rating: 100% (QA)

To calculate the total unallocated fund balance we need to subtract the committed assigned and restr... View the full answer