Tri-County Social Service Agency is a not-for-profit organization in the Midwest. Use the following information to complete the cash budget for the year ending December 31. • The Board of Trustees requires that Tri-County maintain a minimum cash balance of $15. • If cash is short, the agency may borrow from an endowment fund the amount required to maintain the $15 minimum. • It is anticipated that the year will begin with an $18 cash balance. Contract revenue is received evenly during the year. • Mental health income is expected to grow by $4 in the second and third quarters; no change is expected in the fourth quarter. Required: 2. Complete the cash budget for each quarter and the year as a whole. 3. Determine the amount that the agency will owe the endowment fund at year-end. Complete this question by entering your answers in the tabs below. Required 2 Required 3 Complete the cash budget for each quarter and the year as a whole. (Cash deficiency and repayments should be indicated by a minus sign. Enter your answers in thousands.) Cash balance, beginning Receipts: Grants Contracts Mental health income Charitable donations Total cash available Less Disbursements: Salaries and benefits Office expenses Equipment purchases & maintenance Specific assistance Total disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings from endowment fund Repayments Cash Budget for Tri-County Social Service Agency (in thousands) Total financing effects Cash balance, ending $ I 18 75 52 480 102 3 22 (65) 11 Quarters 96 561 384 7 16 (36) III 290 436 85 9 18 113 IV 510 72 145 $ Year 18 253 120 228 1,800 362 27 86
Tri-County Social Service Agency is a not-for-profit organization in the Midwest. Use the following information to complete the cash budget for the year ending December 31. • The Board of Trustees requires that Tri-County maintain a minimum cash balance of $15. • If cash is short, the agency may borrow from an endowment fund the amount required to maintain the $15 minimum. • It is anticipated that the year will begin with an $18 cash balance. Contract revenue is received evenly during the year. • Mental health income is expected to grow by $4 in the second and third quarters; no change is expected in the fourth quarter. Required: 2. Complete the cash budget for each quarter and the year as a whole. 3. Determine the amount that the agency will owe the endowment fund at year-end. Complete this question by entering your answers in the tabs below. Required 2 Required 3 Complete the cash budget for each quarter and the year as a whole. (Cash deficiency and repayments should be indicated by a minus sign. Enter your answers in thousands.) Cash balance, beginning Receipts: Grants Contracts Mental health income Charitable donations Total cash available Less Disbursements: Salaries and benefits Office expenses Equipment purchases & maintenance Specific assistance Total disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings from endowment fund Repayments Cash Budget for Tri-County Social Service Agency (in thousands) Total financing effects Cash balance, ending $ I 18 75 52 480 102 3 22 (65) 11 Quarters 96 561 384 7 16 (36) III 290 436 85 9 18 113 IV 510 72 145 $ Year 18 253 120 228 1,800 362 27 86
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Vishal
Transcribed Image Text:Tri-County Social Service Agency is a not-for-profit organization in the Midwest. Use the following information to complete the cash
budget for the year ending December 31.
• The Board of Trustees requires that Tri-County maintain a minimum cash balance of $15.
If cash is short, the agency may borrow from an endowment fund the amount required to maintain the $15 minimum.
• It is anticipated that the year will begin with an $18 cash balance.
• Contract revenue is received evenly during the year.
. Mental health income is expected to grow by $4 in the second and third quarters; no change is expected in the fourth quarter.
Required:
2. Complete the cash budget for each quarter and the year as a whole.
3. Determine the amount that the agency will owe the endowment fund at year-end.
Complete this question by entering your answers in the tabs below.
Required 2 Required 3
Complete the cash budget for each quarter and the year as a whole. (Cash deficiency and repayments should be indicated by a minus
sign. Enter your answers in thousands.)
Cash balance, beginning
Receipts:
Grants
Contracts
Mental health income
Charitable donations
Total cash available
Less Disbursements:
Salaries and benefits
Office expenses
Equipment purchases & maintenance
Specific assistance
Total disbursements
Cash Budget for Tri-County Social Service Agency
(in thousands)
Excess (deficiency) of cash available over disbursements
Financing:
Borrowings from endowment fund
Repayments
Total financing effects
Cash balance, ending
$
I
18
< Required 2
75
52
480
102
3
22
(65)
||
Quarters
96
561
384
7
16
(36)
III
290
436
85
9
18
113
Required 3 >
IV
510
72
145
$
Year
18
253
120
228
1,800
362
27
86
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