The Following General Fund Information Is Available for the Preparation

question 95

Essay

The following General Fund information is available for the preparation of the financial statements for the City of Pine Cove for the year ended December 31, 2017.
$\begin{array}{lr}\text{Revenue}\\\text { Property taxes } & \$ 26,400,000 \\\text { Sales taxes } & 10,150,000 \\\text { Fines and forfeits } & 1,320,000 \\\text { Licenses and permits } & 2,160,000 \\\text { Intergovernmental } & 890,000 \\\text { Investment earnings } & 660,000\\\text {Expenditures: }\\\text {Current: }\\\text { General government } & 8,200,000 \\\text { Public safety } & 21,000,000 \\\text { Public works } & 6,300,000 \\\text { Health and sanitation } & 1,200,00 \\\text { Culture and recreation } & 12,160,00\\\text{Other}\\\text { Encumbrances } & 100,000 \\\text { Appropriations } & 40,000,000 \\\text { Estimated Revenues } & 42,000,000 \\\text { Transfer to debt service fund } & 1,130,00 \\\text { Special item-proceeds from sale of land } & 760,000 \\\text { Fund balance, January 1, 2017 } & 7,600,000\end{array}$
Required: From the information given above, prepare, in good form, a General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances for the City of Pine Cove for the Year Ended December 31, 2017.

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Definitions:

Horizontal Communication

The exchange of information between individuals or groups at the same level within an organization.

Lateral

Referring to interactions or relationships that occur at the same level of hierarchy within an organization, as opposed to vertical, top-down relations.

Department Heads

Individuals responsible for overseeing specific departments within an organization, ensuring their team's performance aligns with company goals.

Communication Networks

A framework for how messages are transmitted and received within an organization, encompassing various modes and channels of communication.