In: Accounting
Based on the data from the general fund presented below, assess (as best you can) the financial/fiscal condition of Karla city. As much as possible, justify your answer with quantitative data.
Population (increasing slowly) | 86 |
Appraised value of taxable property | $120,000 |
Total general fund revenues | $ 25,000 |
General fund property tax revenue | $ 11,000 |
Intergovernmental revenues | $ 4,000 |
Miscellaneous revenues | $ 8,000 |
Total general fund expenditures | |
(including debt service) | $ 20,000 |
Current expenditures | $ 21,300 |
Capital outlay | $ 1,600 |
Debt service expenditures | $ 100 |
Operating transfer-in | $ 600 |
Operating transfer-out | $ (4,600) |
Unassigned fund balance | $ 13,000 |
Cash and investments | $ 15,000 |
Current liabilities | $ 1,400 |