The following transactions occurred during the 2020 fiscal year for the City of

Question

The following transactions occurred during the 2020 fiscal year for the City of Evergreen. For budgetary purposes, the city reports encumbrances in the Expenditures section of its budgetary comparison schedule for the General Fund but excludes expenditures chargeable to a prior year's appropriation. 1. The budget prepared for the fiscal year 2020 was as follows: Estimated Revenues Taxes Licenses and permits Intergovernmental revenue Miscellaneous revenues $2,006,000 381,000 406,000 71,000 2,864,000 Total estimated revenues Appropriations General government Public safety Public works Health and velfare Miscellaneous 489,900 904,900 668,900 618,900 95,000 2,777,600 $86,400 Total appropriations Budgeted increase in fund balance 2. Encumbrances issued against the appropriations during the year were as follows: Ceneral government Public safety Public worka Health and welfare Miacellaneous 67,000 259,000 401,000 168,910 80,000 975,910 Total

Explanation / Answer

CITY OF EVERGREEN GENERAL FUND BUDGETARY COMPARISON SCHEDULE FOR THE YEAR ENDED DECEMBER 31, 2020 Budget (original and final) Actuals Variance with Final Budget over(under) Revenues Taxes* $2,006,000.00 $2,002,100.00 -$3,900.00 Licenses and permits $381,000.00 $382,900.00 $1,900.00 Intergovernmental revenue $406,000.00 $409,900.00 $3,900.00 Miscellaneous revenues $71,000.00 $75,900.00 $4,900.00 Total Revenues $2,864,000.00 $2,870,800.00 $6,800.00 Expenditures (budgeted basis)**** General government $489,900.00 $487,500.00 -$2,400.00 Public safety $904,900.00 $898,300.00 -$6,600.00 Public works $668,900.00 $667,000.00 -$1,900.00 Health and welfare $618,900.00 $617,410.00 -$1,490.00 Miscellaneous $95,000.00 $92,000.00 -$3,000.00 Total Expenditure $2,777,600.00 $2,762,210.00 -$15,390.00 Excess Revenue over Expenditure $86,400.00 $108,590.00 $22,190.00 Increase in Encumbrance Outstanding *** 0 $65,620.00 $65,620.00 Increase in Fund Balance $86,400.00 $174,210.00 $87,810.00 Fund Balance1/1 $105,900.00 $105,900.00 $0.00 Fund Balance12/31 $192,300.00 $280,110.00 $87,810.00 Working Notes: Entry 3 = 2076100-74000 = * $2,002,100.00 Increase in Encumbrance Outstanding = 975910 - 896200 - 14090*** 65620 **** A B a b C= a-b Net Balance (A+B+C) Encumbrances Appropriations Actual Liability Estimated Liability Balance General government $67,000.00 $420,000.00 61700 61200 500 $487,500.00 Public safety $259,000.00 $644,000.00 245200 249900 -4700 $898,300.00 Public works $401,000.00 $263,000.00 369000 366000 3000 $667,000.00 Health and welfare $168,910.00 $448,000.00 139600 139100 500 $617,410.00 Miscellaneous $80,000.00 $12,000.00 80000 80000 0 $92,000.00

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