1. Business
  2. Accounting
  3. following is a summary of the operating budget adopted by...

Question: following is a summary of the operating budget adopted by...

Question details

Following is a summary of the operating budget adopted by Westchester County, New York for the cal‑endar year 2017. The actual budget document is almost 750 pages, so the summary is highly condensed. Prepare the journal entry to record the budget, assuming that the detail will be separately recorded.Estimated revenues and other sources:

Real property taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 548,423,468

Sales tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 517,559,000

Federal and state aid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 433,229,570

Departmental income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151,405,650

Other revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 159,394,093

Total estimated revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,810,011,781

Appropriated previously accumulated fund balance. . . . . . . . . . . . . . . . 15,000,000

Total estimated revenues and other sources . . . . . . . . . . . . . . . . . . . . . $1,825,011,781

Appropriations:General government and support. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 49,275,122

Home and community services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 614,816,681

Health services. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 149,224,687

Education . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,833,371

Public safety, corrections, courts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 223,582,214

Roads, transportation, parks facilities. . . . . . . . . . . . . . . . . . . . . . . . . . . 217,729,956

Miscellaneous and fixed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 540,549,750

Total appropriations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,825,011,781

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution