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LEGAL NOTICE
City of Prospect Heights
Fiscal Year Ended April 30, 2014,
SUMMARY STATEMENT OF CONDITIONGeneral
Fund
Beginning Fund Balance×Revenues
Expenditures
Other financing sources (uses)
Transfers
Ending
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What is beginning fund balance?
Beginning fund balance is the amount of money available in a fund at the start of a fiscal year.
Who is required to file beginning fund balance?
Government entities or organizations that have funds set aside for specific purposes are required to file beginning fund balance.
How to fill out beginning fund balance?
Beginning fund balance can be filled out by recording the total amount of money available in the fund at the beginning of the fiscal year.
What is the purpose of beginning fund balance?
The purpose of beginning fund balance is to provide a starting point for financial planning and budgeting for the upcoming fiscal year.
What information must be reported on beginning fund balance?
Beginning fund balance should include details of the total funds available, any restrictions on the use of the funds, and any changes in the fund balance from the previous fiscal year.
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