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What amount should the county report for expenditures

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Question - A county's general fund has $3,000,000 in purchase orders outstanding at the beginning of 2017.  The orders are delivered in 2017 and the county pays the suppliers $3,000,000.  Expenditures ordered, delivered and paid for in 2017, total $25,000,000.  Near the end of 2017, encumbrances for $4,500,000 in purchase orders are recorded.  Encumbrances are reported in fund balance-assigned.   

What amount should the county report for expenditures in 2017 assuming the county uses (i) the legal budgetary basis or (ii) the GAAP budgetary basis?

Reference no: EM132964451

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