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What would be the total Restricted fund balance

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Question - The Township of Thomasville's General Fund has the following net resources at year end:

$75,000 of prepaid insurance

$410,000 rainy day fund approved by the township governing board with specific conditions for its use

$1,400 of supplies inventory

$60,000 state grant for snow removal

$150,000 contractual obligations for the purchase of equipment

Outstanding encumbrance of $105,000 for the purchase of furniture & fixtures (assume no contractual obligation)

Total Fund Balance is $1,010,500

Required - What would be the total Restricted fund balance?

Reference no: EM132842887

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