Erie County, New York uses the legal budgetary basis to report the change in fund balances in its budgetary comparison schedule. It reports the following information for the year ended December 31,...

Erie County, New York uses the legal budgetary basis to report the change in fund balances in its budgetary comparison schedule. It reports the following information for the year ended December 31, 2010 (in thousands): Excess of revenues and other financing sources over expenditures and other Financing uses-budgetary basis…………………………………$24,335 Encumbrances, January 1, 2010……………………………………. 4,722 Encumbrances, December 31, 2010…………………………………3,862 Required Present a reconciliation of the budgetary basis to the GAAP basis of operating results. View Solution:

Erie County New York uses the legal budgetary basis to