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The governmental funds of the City of Westchester report $603,500 in assets and $201,000 in...

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Accounting

The governmental funds of the City of Westchester report $603,500 in assets and $201,000 in liabilities. The following are some of the assets reported by this government.

  • Prepaid items$15,200.
  • Cash from a bond issuance that must be spent within the school system according to the bond indenture$117,500.
  • Supplies$6,100.
  • Investments given by a citizen that will be sold with the proceeds used to beautify a public park$44,000.
  • Cash that the assistant director of finance has designated for use in upgrading the local roads$60,500.
  • Cash from a state grant that must be spent to supplement the pay of local kindergarten teachers$72,250.
  • Cash that the city council (the highest level of authority in the government) has voted to use to renovate a school gymnasium$66,000.

On a balance sheet for the governmental funds, what fund balance amounts will be reported by the City of Westchester?

Fund-balancenonspendable

Fund-balancerestricted

Fund-balancecommitted

Fund-balanceassigned

Fund-balanceunassigned

Total fund-balance$0

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