Presented below is information on the GF of the City ofKnolls Hills for the year ended December 31, 20X8. Prepare ingood form (proper heading, etc.) a statement of revenues,expenditures, and changes in fund balance for this fund for20X9.
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Taxes collected during 20X9
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$17,000,000
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Cash collected from restricted grants, eligibilityrequirements met
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5,100,000
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Proceeds from short-term notes
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500,000
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Proceeds from sale of general capital assets
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450,000
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License and permit fees collected
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40,000
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Interest collected on investments
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67,000
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Pass-through grants received and paid out
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350,000
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Cash received from terminated special revenuefund
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477,000
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Cash paid to other fund to finance debt service onbonds
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1,280,000
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Interest paid on short-term note
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115,000
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Interest accrued but not paid on short-termnote
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16,000
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Expenditures for general administration
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2,350,000
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Expenditures for public safety
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2,700,000
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Expenditures for highways and streets
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3,450,000
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Expenditures for health and welfare
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1,775,000
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Purchases of capital assets
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450,000
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Payment to fund to be used to finance construction ofgeneral government building
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3,300,000
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Collection of interfund advance established three yearsago
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4,400,000
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General administration salary costs incurred in 20X9 butnot paid by year end
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10,000
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Materials ordered but not received
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215,000
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Lease payments on capital lease (3rd year oflease)-Interest is $24,000 of total
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77,000
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Taxes receivable, January 20X9
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5,000,000
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Taxes receivable, December 31 20X9
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4,500,000
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20X8 taxes collected in January or February20X9
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2,400,000
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20X9 taxes expected to be collected in January or February20Y0
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1,400,000
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Book value of investments, December 31, 20X9
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1,000,000
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Fair value of investments, December 31, 20X9
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1,270,000
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Reserve for Encumbrances, December 31, 20X8
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750,000
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Unreserved Fund Balance, December 31, 20X8
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$2,788,000
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Amortized approached not required forinvestments.
Check figures: Revenues (total)#21,827,000 (list out all of sources of revenue / incomethat's included in your total. And include all of theamounts in a specific item. For example, property taxes, ifmore than one amount makes up that total show each amount inparenthesis (10,000,000 - 3,500,000 + 8,000,000). Do thesame for Expenditure items. Excess of Revenues over(under) Expenditures 10,509,000, Net Change in FB $6,856,000, andFB 12/31/09 $10,394,000