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Budget Status Report Month Ending October 31, 2012, REVENUES GENERAL FUND BUDGET ESTIMATE & ACTUAL RECEIPTS Month Ending October 31, 2012, BUDGETED REVENUE GENERAL FUND REVENUE SOURCE TAXES PROPERTY
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01
Gather all financial records: Start by collecting all relevant financial records such as bank statements, invoices, receipts, and expense reports. These documents will provide the necessary information to accurately determine the total general fund.
02
Classify and categorize transactions: Review each transaction and classify them into appropriate categories such as revenues, expenses, assets, liabilities, and equity. Ensure that each transaction is accurately identified and properly assigned to its respective category.
03
Calculate the beginning balance: Determine the starting balance of the general fund by adding the opening balance to any previous period's surplus or subtracting any previous period's deficit. This will give you the initial amount in the general fund.
04
Record revenues: Identify all sources of income or revenue and record them in the general fund. This can include sales, donations, grants, or any other type of income received. Be sure to accurately document the amount, date, and source of each revenue.
05
Record expenses: Identify and record all expenses incurred by the organization. This can include salaries, utilities, rent, supplies, or any other expenses related to the operations of the organization. Document each expense accurately by recording the amount, date, and purpose of the expense.
06
Calculate net income or loss: Calculate the net income or loss by subtracting the total expenses from the total revenue. If the result is positive, it represents a surplus, while a negative result indicates a deficit.
07
Determine the ending balance: Add the net income or loss to the beginning balance to calculate the ending balance of the total general fund. This represents the final amount of funds available in the general fund at the end of the specified period.

Who needs total general fund?

01
Non-profit organizations: Non-profit organizations often need to maintain a total general fund to track their financial resources and ensure they have a clear understanding of their assets and liabilities. This helps them make informed decisions regarding their financial operations and plan for the future.
02
Government entities: Government entities, such as municipalities or state agencies, require a total general fund to effectively manage their finances. It allows them to allocate resources, prioritize spending, and maintain transparency and accountability in their financial transactions.
03
Businesses and corporations: Businesses and corporations may have a total general fund as part of their accounting practices. It helps them monitor their financial health, assess profitability, and determine the availability of funds for various purposes such as expanding operations, paying dividends, or investing in new projects.

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The total general fund is the sum of all revenues and expenditures allocated for the general operations of a government or organization.
All government entities and organizations that have a general fund are required to file total general fund.
Total general fund is typically filled out by financial officers or accountants who are responsible for tracking the revenues and expenditures of the organization.
The purpose of total general fund is to provide a clear overview of the financial health and operations of a government entity or organization.
Information such as revenues, expenditures, fund balances, and any transfers in or out of the general fund must be reported on total general fund.
The deadline to file total general fund in 2023 is typically set by the governing body or regulatory agency overseeing the organization.
The penalty for late filing of total general fund may vary depending on the regulations and policies set by the governing body or regulatory agency.
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