Estimated revenues $3,150,000 Revenues $3,190,000 Appropriations $3,185,000 Expenditures $3,175,000 Fund Balance- Unassigned (beginning of the...

80.2K

Verified Solution

Question

Accounting

Estimated revenues $3,150,000

Revenues $3,190,000

Appropriations $3,185,000

Expenditures $3,175,000

Fund Balance- Unassigned (beginning of the year) $600,000

Budgetary Fund Balance (after FY 2013 budget was recorded) ($35,000)

Did the town of truesdale engage in imprudent budgeting practice by authorizing a great amount of expenditures than revenues estimated for the year, or potentially violate town or state balanced budget laws?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students