The Township of Thomasville's General Fund Has the Following Net

question 99

Multiple Choice

The Township of Thomasville's General Fund has the following net resources at year end:
•$66,000 of prepaid insurance
•$375,000 rainy day fund approved by the township governing board with specific conditions for its use
•$2,500 of supplies inventory
•$61,000 state grant for snow removal
•$150,000 contractual obligations for the purchase of equipment
•$200,000 to be used to fund government operations in the future
•Outstanding encumbrance of $80,000 for the purchase of furniture & fixtures
-What would be the total Assigned fund balance?

• A) $105,000
• B) $455,000
• C) $ 67,500
• D) $ 80,000

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