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Chapter 3 Excercise 3-15 (Excel Solutions) SAMPLE

The document summarizes the budget and actual revenues and expenditures for the City of Salem's general fund for the year ended December 31, 2012. It shows the original and final budgeted amounts side-by-side with the actual amounts. Overall, revenues were under budget by $191,769 while expenditures were under budget by $779,702, resulting in an excess of revenues and other sources over expenditures and other uses of $1,060,383 compared to the final budgeted deficit of $1,648,417.

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Marchella Presciana
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171 views6 pages

Chapter 3 Excercise 3-15 (Excel Solutions) SAMPLE

The document summarizes the budget and actual revenues and expenditures for the City of Salem's general fund for the year ended December 31, 2012. It shows the original and final budgeted amounts side-by-side with the actual amounts. Overall, revenues were under budget by $191,769 while expenditures were under budget by $779,702, resulting in an excess of revenues and other sources over expenditures and other uses of $1,060,383 compared to the final budgeted deficit of $1,648,417.

Uploaded by

Marchella Presciana
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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CITY OF SALEM

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual: General Fund
For The Year Ended December 31, 2012
Budgeted Amounts
REVENUES
Property Taxes
Other Local Taxes
Charges for Services
Intergovernmental
Miscellaneous
TOTAL REVENUES
EXPENDITURES
Current
General Government
Judicial Administration
Public Safety
Public Works
Health and Welfare
Education
Parks and Recreation
Community Development
TOTAL EXPENDITURES
REVENUES OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES):
Transfers (to) other funds
Excess of revenues and other sources over
(under) expenditures and other uses
FUND BALANCE - Beginning of Year
FUND BALANCE - End of Year

Original
14,666,000
11,562,500
1,613,011
7,892,080
1,504,977
37,238,568

Final
14,666,000
11,562,500
1,613,011
8,047,907
1,388,385
37,277,803

Actual Amounts
Budgetary Basis
15,361,830
11,761,522
1,601,435
7,098,698
1,262,549
37,086,034

Variance with Final


Budget
695,830
199,022
(11,576)
(949,209)
(125,836)
(191,769)

3,567,838
1,321,048
7,753,002
4,541,651
4,823,267
8,963,248
2,983,861
872,594
34,826,509

3,489,870
1,497,845
8,325,564
4,984,353
4,440,167
8,929,725
3,097,528
904,168
35,669,220

3,353,502
1,456,734
8,216,347
4,602,273
4,418,294
8,887,834
3,055,325
899,209
34,889,518

136,368
41,111
109,217
382,080
21,873
41,891
42,203
4,959
779,702

2,412,059

1,608,583

2,196,516

(971,471)

(3,560,000)
(3,560,000)

(3,257,000)
(3,257,000)

(3,256,899)
(3,256,899)

101
101

(1,147,941)
12,338,963
11,191,022

(1,648,417)
12,338,963
10,690,546

(1,060,383)
12,338,963
11,278,580

588,034
588,034

Type your name here


a. Record the original budget
Estimated Revenues Control
Estimated Other Financing Uses Control
Budgetary Fund Balance
Revenues ledger:
Property Taxes
Other Local Taxes
Charges for Services
Intergovernmental Revenue
Miscellaneous

Budgetary Fund Balance


Appropriations Control
Estimated Other Financing Uses Control
Appropriations ledger:
General Government
Juidicial Administration
Public Safety
Public Works
Health and Welfare
Education
Parks and Recreation
Community Development

General Ledger
Debits
Credits
37,238,568
37,238,568

Subsidiary Ledger
Debits
Credits

14,666,000
11,562,500
1,613,011
7,892,080
1,504,977
37,238,568
38,386,509
34,826,509
3,560,000
3,567,838
1,321,048
7,753,002
4,541,651
4,823,267
8,963,248
2,983,861
872,594

34,826,509
Other Financing Uses ledger:
Transfers out

b. Record the budget revisions


Estimated Revenues Control
Estimated Other Financing Uses Control
Budgetary Fund Balance
Appropriations Control

3,560,000

General Ledger
Debits
Credits
39,235
303,000
500,476
842,711

Revenues ledger:
Intergovernmental Revenues
Miscellaneous

155,827
116,592

Appropriations ledger:
General Government
Juidicial Administration
Public Safety
Public Works
Health and Welfare
Education
Parks and Recreation
Community Development

77,968
176,797
572,562
442,702
383,100
33,523
113,667
31,574

Other Financing Uses ledger:


Transfers out

c. Record the Actual Revenues


Cash
Revenues Control

Subsidiary Ledger
Debits
Credits

303,000

General Ledger
Debits
Credits
37,086,034
37,086,034

Subsidiary Ledger
Debits
Credits

Revenues ledger:
Property Taxes
Other Local Taxes
Charges for Services
Intergovernmental Revenue
Miscellaneous

d. Record the encumbrances


Encumbrances Control
Budgetary Fund Balance - Reserve for Encumbrances

15,361,830
11,761,522
1,601,435
7,098,698
1,262,549
37,086,034
General Ledger
Debits
Credits
34,889,518
34,889,518

Encumbrances ledger:
General Government
Juidicial Administration
Public Safety
Public Works
Health and Welfare
Education
Parks and Recreation
Community Development

Subsidiary Ledger
Debits
Credits

3,353,502
1,456,734
8,216,347
4,602,273
4,418,294
8,887,834
3,055,325
899,209
34,889,518
General Ledger

Subsidiary Ledger

136,368
41,111
109,217
382,080
21,873
41,891
42,203
4,959
779,702

e. Record the actual expenditures and


Encumbrance Reversals
Budgetary Fund Balance - Reserve for Encumbrances
Encumbrances Control

Debits
34,889,518

Credits

Debits

34,889,518

Encumbrances ledger:
General Government
Juidicial Administration
Public Safety
Public Works
Health and Welfare
Education
Parks and Recreation
Community Development

Expenditures Control
Accounts Payable
Expenditures ledger:
General Government
Juidicial Administration
Public Safety
Public Works
Health and Welfare
Education
Parks and Recreation
Community Development

Credits

3,353,502
1,456,734
8,216,347
4,602,273
4,418,294
8,887,834
3,055,325
899,209
34,889,518
34,889,518
34,889,518

3,353,502
1,456,734
8,216,347
4,602,273
4,418,294
8,887,834
3,055,325
899,209
34,889,518

136,368
41,111
109,217
382,080
21,873
41,891
42,203
4,959
779,702

39,235 decrease in estm' revenues

842,711 increase in appropriations


303,000 decrease in estm' transfers
500,476 Decrease in budgetary fund balance

136,368
41,111
109,217
382,080
21,873
41,891
42,203
4,959
779,702

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