#2 most likely occured because a good or service was ordered, but not yet received. (Purchase orders issued)
#3 was most likely when the invoices were received and payment was approved.
#4 shows the recording of expenditures for salaries and payroll. Many gobernments do not find it necessary to encumber these amounts because they are known, not estimates.
Transaction #1 most likely occured when appropriation funds were released to the City of Boone to incur liabilities for a specific purpose.
ReplyDelete#2 most likely occured because a good or service was ordered, but not yet received. (Purchase orders issued)
ReplyDelete#3 was most likely when the invoices were received and payment was approved.
#4 shows the recording of expenditures for salaries and payroll. Many gobernments do not find it necessary to encumber these amounts because they are known, not estimates.
The $3000 at the bottom represents purchase orders outstanding.
Delete#5 is most likely in response to a request for additional funds for a department or project.
ReplyDeleteFor transaction #1, the 254,000 cannot be exceeded for its purpose.
ReplyDelete#2 $18,000 was encumbered for a specific transaction. It can be a commitment of a contract, payroll, et cetera.
ReplyDelete