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Dec18Form 635.1Department of Management143404Adoption of Budget and Certification of City Taxes FISCAL YEAR BEGINNING JULY 1, 2019, ENDING JUNE 30, 2020, The City of:County Name:Missouri ValleyResolution

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How to fill out ending fund balance

01

To fill out the ending fund balance, follow these steps:

02

Determine the starting fund balance for the period.

03

Add any revenues or income received during the period.

04

Subtract any expenses or losses incurred during the period.

05

Adjust for any other changes, such as transfers or reclassifications.

06

The result will be the ending fund balance for the period.

Who needs ending fund balance?

01

Ending fund balance is needed by organizations, businesses, and governments that want to monitor their financial performance over a specific period. It helps in understanding the overall financial health, liquidity, and available resources at the end of a period. It is particularly important for budgeting, financial planning, and reporting purposes.

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What is ending fund balance?

The ending fund balance is the amount of money remaining in a fund at the end of a fiscal period, calculated as the difference between total revenues and total expenditures.

Who is required to file ending fund balance?

Typically, governmental entities such as municipalities, school districts, and other public sector organizations are required to file an ending fund balance.

How to fill out ending fund balance?

To fill out an ending fund balance, one must calculate the total revenues, total expenditures, and then subtract total expenditures from total revenues to report the ending balance.

What is the purpose of ending fund balance?

The purpose of the ending fund balance is to provide a snapshot of the financial position at the end of a fiscal period, indicating how much money is available for future spending.

What information must be reported on ending fund balance?

The report must include total revenues, total expenditures, and the resulting ending fund balance for the fiscal period.

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