Chapter 16, Problem 35P

The governmental funds of the City of Westchester report $445,000 in assets and $140,000 in liabilities. The following are some of the assets reported by this government.

• Prepaid items—$7,000.
• Cash from a bond issuance that must be spent within the school system according to the bond indenture—$80,000.
• Supplies—$5,000.
• Investments given by a citizen that will be sold with the proceeds used to beautify a public park—$33,000.
• Cash that the assistant director of finance has designated for use in upgrading the local roads—$40,000.
• Cash from a state grant that must be spent to supplement the pay of local kindergarten teachers—$53,000.
• Cash that the city council (the highest level of authority in the government) has voted to use to renovate a school gymnasium—$62,000.

On a balance sheet for the governmental funds, what fund balance amounts will be reported by the City of Westchester?