Following is an excerpt from a city General Fund statement of revenues, expenditures, and changes in fund balance. Calculate the numerator of the city operating margin. State the factors you considered in making your calculation.
Revenues .................... $ 670,000
Expenditures .................... 640,000
Excess of revenues over expenditures ........... 30,000
Other financing sources (uses):
Transfer in from closed Special Revenue Fund ...... 50,000
Proceeds from sale of capital assets ............ 40,000
Net change in fund balance ............... $ 120,000