The Township of Thomasville’s General Fund has the following net recourses at year end:* $65,000 of prepaid insurance;* $375, 000 rainy day fund approved by the township governing board with specific conditions for its use;* $2,500 os supplies inventory* $60,000 state grant for snow removal;* $150,000 contractual obligations for the purchase of eqpuipment;* $200,000 to be used to fund government operations in the future;* outstanding encumbrance of $80,000 for the purchase of the furniture&fixtures;What would be the total Assigned fund balance?
ParticularsContratual obligation for purchase of EquipmentLess Non sependable balance (65000+2500)Less InventoryTotal assigned fund balance Amount $150,000-67,500-2,50080,000
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