please help me to have an idea how to solve this case problems,,,, Subject: Governmental and nonprofit accounting 11th ed P3-1 (Operating Budget

please help me to have an idea how to solve this case problems,,,,

Subject: Governmental and nonprofit accounting 11th ed

P3-1(Operating Budget Preparation)The finance director of the Bethany Independent School Districts is making preliminary estimates of the budget outlook for the GF for the 20x8 fiscal year. These estimates will permits the superintendent to advice the department heads properly when budget instructions and forms are distributed. She has assembled the ff informations:

Est 20x7 Expected change 20x8

1.Revenue

Property taxes 2,000,000.00 +6%

STate Aid 1,000,000.00 +3%

Federal Grants 500,000.00 -40,000.00

Other 300,000.00 +10,000.00

Expenditure

Salaries and wages 2,700,000.00 ?

Utilities 400,000.00 +4%

Maintenance 300,000.00 +24,000.00

Capital Outlay 200,000.00 +15,000.00

Debt Service 100,000.00 +20,000.00

Other 50,000.00 +5,000.00

3.Fund balance at the end of 20x7 is expected to be $1.6million; at least $1.5million must be available at the end of 20x8 for carry over to help finance 20x9 operations

REQUIRED: A. to have  a draft operating budget for the Bethany Independent School District for the 20x8 fiscal year, including 20x7 comparative data and expected change computations. Assume that 20x8 appropriations are to equal 20x8 estimated revenues B. what total salaries and wages amount and average percentage increase or decrease are implied in the draft operations budget prepared in part (a)?.

Please specify the  maximum salary and wages amount and percentage increase that seem to be feasible in 20x8?

P3-2 Budgetary and other entries-General and subsidiary ledgers, The murphy county commissioner adopted the following general fund budget for the 20x8 fiscal year

Murphy County

GF

Budget 20x8

Est Revenue

Taxes 8,000,000.00

Lic and Permits 800,000.00

Intergovernmental 2,000,000.00

Charges for services 200,000.00

Fines and forfiets 400,000.00

Other 600,000.00

total 12,000,000.00

Appropriations

General Govt 1,000,000.00

Puiblic safety 4,000,000.00

Higways and streets 5,000,000.00

Health and sanitation 900,000.00

cULTURE /recreation 400,000.00

Other 600,000.00

total 11,900,000.00

Excess of est.Revenue over appropriations 100,000.00

Funds balances - Beginning 1,400,000.00

Fund Blances - Ending (anticipated) 1,500.000.00

the following events occured during 20x8

1.Purchase order issued and contracts let were expected to cost

General Govt 300,000.00

Puiblic safety 1,200,000.00

Higways and streets 2,500,000.00

Health and sanitation 500,000.00

cULTURE /recreation 300,000.00

Other 200,000.00

total 5,000,000.00

2. The commissioner reviewed the budget during the year and revised the estimate of intergovernmental revenue to $1,500,000.00 and reduced the public safety highways and strret appropriations by $225,000.00 each to partially compensate for the anticipated decline in intergovernmental revenue. and (b) increased the health and sanitation appropriation by $70,000.00 because of cost incurred in connection with an unusual outbreak of tasmanian flu.

3.Revenue (actual) for 20x8 were

Taxes 8,150,000.00

Lic and Permits 785,000.00

Intergovernmental 1,520,000.00

Charges for services 210,000.00

Fines and forfiets 395,000.00

Other 500,000.00

Total 11,560,000.00

4. Goods and services under purchase order and contract were received

est.cost actual cost

General Govt 280,000.00 278,000.00

Puiblic safety 900,000.00 910,000.00

Higways and streets 2,500,000.00 2,500,000.00

Health and sanitation 440,000.00 440,000.00

cULTURE /recreation 300,000.00 295,000.00

Other 180,000.00 181,000.00

Total $4,600,000.00 $4,604,000.00

The remaining orders are still oustanding

5. Other expenditures incurred were:

General Govt 700,000.00

Puiblic safety 2,560,000.00

Higways and streets 2,271,000.00

Health and sanitation 485,000.00

cULTURE /recreation 45,000.00

Other 391,000.00

total $6,452,000.00

REQUIRED:

1.Please Sset up general ledger T-accounts like those in illustration 3-1 and also revenue and expenditures subsiduiary ledger like those in illustration 3-2 and 3-3

2. make a Record the murphy county 20x8 general fund budget in the general ledger and subsidiary ledger account, keying these entries "B" (for budget). Then record the numbered transactions and events, keying these entries by those numbers.

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P3-3...Budgetary comparison statement...this problem is based on the information about the Murphy county general fund budgeted and actual transactions and events described in problem 3-2

:..Helpme to get a budgetary comparison statement for the General fund of murphy county for the 20x8 fiscal year. The statement should present reveneue (by source category) , expenditures and encumbrances (by function) and the excess revenues over (under) expenditures and encumbrances. Please Use these column headings;

Original budget

Revised budget

actual

variance - over (under)

To assume that no encumbrances were oustanding at the beginning of 20x8

2.Since encumbrances do not constitutes expenditures, some governmental fund budgetary comparison statements omit data on encumbrances. (a) if no encumbrances were outstanding at the beginning of 20x8, what effects would ommision of encumbrances data have on the Murphy county general fund budgetary comparison statement for the 20x8 fiscal year?

(b) and to what circumsytances would includung or excluding encumbrances data mislead users of a governmental fund budgetary comparison statement?