Quarterly allotments for the appropriation to the State Library System for the fiscal year beginning July 1, 201X and ending on June 30, 201Y were as follows: Q1: $3,750,000 Q2:$4,500,000 Q3:...

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Quarterly allotments for the appropriation to the State Library System for the fiscal year beginning July 1, 201X and ending on June 30, 201Y were as follows:

Q1: $3,750,000


Q2:$4,500,000


Q3: $3,750,000


Q4: $3,000,000


On December 31, 201X, budgetary status reports showed expenditures of $7,500,000 and encumberances of $1,000,000. Using an accural accounting concept, what was the budgetary status of Library Systems as of that December 31 date?


As of the end of the third quarter, the Library Systems shows expenditures of $11,000,000 and has $3,000,000 in encumberances. It projects that spending in the fourth quarter will be $500,000 more than what was initially allotted for that budget period. Determine the amount of the supplemental appropriation, if any, which must be requested in order the end the fiscal year with a balanced budget.


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Answered Same DayDec 20, 2021

Answer To: Quarterly allotments for the appropriation to the State Library System for the fiscal year beginning...

David answered on Dec 20 2021
123 Votes
Quarterly allotments for the appropriation to the State Library System for the
fiscal year beginni
ng July 1, 201X and ending on June 30, 201Y were as follows:
Q1: $3,750,000 Q2:$4,500,000 Q3: $3,750,000 Q4: $3,000,000 On December 31,
201X, budgetary status reports showed expenditures of $7,500,000 and
encumberances of $1,000,000. Using an accural accounting concept, what was the
budgetary status of Library Systems as of that December 31 date? As of the end of
the third quarter, the Library Systems shows expenditures of $11,000,000 and
has $3,000,000 in encumberances. It projects that spending in...
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