In: Accounting
CITY OF SALEM | ||||||||
Schedule of Revenues, Expenditures and Changes in Fund Balance - | ||||||||
Budget and Actual: General Fund | ||||||||
For The Year Ended December 31, 2017 | ||||||||
Budgeted Amounts | ||||||||
REVENUES | Original | Final | Actual Amounts Budgetary Basis | Variance with Final Budget | ||||
Property Taxes | 14,666,000 | 14,666,000 | 15,361,830 | 695,830 | ||||
Other Local Taxes | 11,562,500 | 11,562,500 | 11,761,522 | 199,022 | ||||
Charges for Services | 1,613,011 | 1,613,011 | 1,601,435 | (11,576) | ||||
Intergovernmental | 7,892,080 | 8,047,907 | 7,098,698 | (949,209) | ||||
Miscellaneous | 1,504,977 | 1,388,385 | 1,262,549 | (125,836) | ||||
TOTAL REVENUES | 37,238,568 | 37,277,803 | 37,086,034 | (191,769) | ||||
EXPENDITURES | ||||||||
Current | ||||||||
General Government | 3,567,838 | 3,489,870 | 3,353,502 | 136,368 | ||||
Judicial Administration | 1,321,048 | 1,497,845 | 1,456,734 | 41,111 | ||||
Public Safety | 7,753,002 | 8,325,564 | 8,216,347 | 109,217 | ||||
Public Works | 4,541,651 | 4,984,353 | 4,602,273 | 382,080 | ||||
Health and Welfare | 4,823,267 | 4,440,167 | 4,418,294 | 21,873 | ||||
Education | 8,963,248 | 8,929,725 | 8,887,834 | 41,891 | ||||
Parks and Recreation | 2,983,861 | 3,097,528 | 3,055,325 | 42,203 | ||||
Community Development | 872,594 | 904,168 | 899,209 | 4,959 | ||||
TOTAL EXPENDITURES | 34,826,509 | 35,669,220 | 34,889,518 | 779,702 | ||||
REVENUES OVER (UNDER) EXPENDITURES | 2,412,059 | 1,608,583 | 2,196,516 | 587,933 | ||||
OTHER FINANCING SOURCES (USES): | ||||||||
Transfers (to) other funds | (3,560,000) | (3,257,000) | (3,256,899) | 101 | ||||
(3,560,000) | (3,257,000) | (3,256,899) | 101 | |||||
Excess of revenues and other sources over | ||||||||
(under) expenditures and other uses | (1,147,941) | (1,648,417) | (1,060,383) | 588,034 | ||||
FUND BALANCE - Beginning of Year | 12,338,963 | 12,338,963 | 12,338,963 | - | ||||
FUND BALANCE - End of Year | 11,191,022 | 10,690,546 | 11,278,580 | 588,034 | ||||
Prepare Journal Entries below as directed | ||||||||
A Record the original budget
B Record the budget revisions
C Record the Actual Reevenues
D Record the encumbrances
E Record the actual expenditures and Encumbrance Reversais