A Fund balance refers to the residue, which happens when real revenues go beyond budgeted revenues or when the genuine expenditures are not as much of than budgeted expenditures at the end of the fiscal year that is at June 30.
I want to explain the fund balance with one example, assume the metropolis budgets $15 million on infrastructure next year but barely spend $14 million; there is a $1 million fund balance.
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Hi ,
welcome to the forum,
balancing the monthly budget on the business is balancing the budget...
thanks for sharing,
regards ,
phe9oxis.
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