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Preparation of the financial statements for the city of

Problem - The following general fund information is available for the preparation of the financial statements for the city of Eastern Shores for the year ended September 30, 2009:

Revenues:

Property taxes $16,000,000

Sales taxes 23,216,000

Fees and fines 1,124,000

Licenses and permits 1,921,000

Intergovernmental 868,000

Investment earnings 654,000

Expenditures:

Current:

General government 8,192,000

Public safety 24,444,000

Public works 6,211,000

Health and sanitation 1,193,000

Culture and recreation 2,154,000

Debt service-principal 652,000

Debt service-interest 821,000

Proceeds of long-term, capital-related debt 1,210,000

Transfer to special revenue fund 1,119,000

Special item-proceeds from sale of land 821,000

Fund balance, October 1, 2008 13,211,000

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