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On december 31 201x budgetary status reports showed

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Reference no: EM13582856

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.

Reference no: EM13582856

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