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i <br /> B. Budgetary Basis <br /> The General Fund appropriation appearing on page 4 of the financial <br /> statements represents the final amended budget of the Town and was <br /> authorized as follows: <br /> i <br /> 1996 annual appropriations $ 21,225,781 <br /> Statutory County and State assessments 303,713 <br /> Other uses legally required to be raised 52.652 <br /> Total Appropriation $ 21.582.146 <br /> C. Bu get/GAAP Reconciliation <br /> The budgetary data for the general and proprietary funds is based upon <br /> accounting principles that differ from generally accepted accounting prin- <br /> ciples (GAAP). Therefore, in addition to the GAAP basis financial state- <br /> ments, the results of operations of the general fund are presented in <br /> accordance with budgetary accounting principles to provide a meaningful <br /> comparison with budgetary data. <br /> The following is a summary of adjustments made to the actual revenues <br /> and other sources, and expenditures and other uses, to conform to the <br /> budgetary basis of accounting. <br /> Revenues Expenditures <br /> and Other and Other <br /> Financing Sources Financing Uses j <br /> General Fund <br /> Revenues/Expenditures (GAAP basis) $ 22,807,876 $21,263,422 <br /> Other financing sources/ uses (GAAP <br /> basis) 452,267 2,500 <br /> Adjust tax revenue to accrual basis (1,002,606) - <br /> Reverse beginning of year appropriation <br /> carryforwards from expenditures - (372,588) <br /> Add end of year appropriation carryforwards <br /> to expenditures - 671,015 <br /> Include free cash used as funding source 263,438 - <br /> Adjust short-term debt interest accrual <br /> (GAAP basis) - (473,233) <br /> Budgetary basis $ 22,52Q.975 <br /> $21.091.116 <br /> 13 <br />