Special Revenue Fund
The Addiction Prevention Special Revenue Fund was established in 20X4 to account for federal grants intended to help communities prevent and battle drug and alcohol addictions. Because this is the first year for this fund, there is no beginning trial balance for the Addiction Prevention Special Revenue Fund.
You are given the completed transaction worksheet (tab APSFR). From the worksheet:
A. Prepare the 20X4 Statement of Revenues, Expenditures, and Changes in Fund Balance for the Addiction Prevention Special Revenue Fund (tab AP OP).
B. Prepare the 20X4 balance sheet for the Addiction Prevention Special Revenue Fund (tab AP BS).
Parks and Recreation Capital Projects Fund
Record the following transactions to tab P&R CPF
1. The city approved a major capital improvement project to construct a recreational facility. The project will be financed by a bond issue of $1,500,000, transfers from the General Fund of $500,000, and a contribution from the county of $300,000. Record the budget assuming these amounts, along with an equal appropriation for the project, were adopted for 20X4.
2. The city received the county's contribution of $300,000. These resources are required to be used for the construction project. The grant is expenditure-driven. The city's policies indicate that resources restricted for a given purpose are considered expended prior to any unrestricted resources available for that purpose.
3. The city transferred $200,000 from the General Fund to the Parks and Recreation Capital Projects Fund.
4. The city issued bonds with a face (par) value of $1,500,000 at a premium of $50,000 on January 1. Bond issue costs of $15,000 were incurred. Interest of 8% per year and $100,000 of principal are due each December 31.
5. The city signed a $2,190,000 contract for construction of the new recreational facility. The process to establish the contract qualifies as a commitment under the city's commitments policy.
6. The city purchased land as the site for the facility at a cost of $110,000. Payment was made for the land.
7. The contractor billed the city $1,200,000. The city paid all but a 5% retainage.
8. The outstanding encumbrances were closed (use the transactions columns for this entry).
9. The budgetary accounts were closed at year end. Appropriations do not lapse at year end. Close the budgetary accounts in the transactions columns.
General Debt Service Fund
You are given the completed transaction worksheet (tab GEN DSF). From the worksheet,
A. Prepare the 20X4 Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Debt Service Fund (tab GEN DSF OS).
B. Prepare the 20X4 balance sheet for the General Debt Service Fund (tab GEN DSF BS).
General Capital Assets
You are given the completed transaction worksheet CGA WS; prepare the General Capital Asset Note Disclosure (tab CGA Note).
General Long-Term Liabilities
You are given the completed transaction worksheet GLTL; prepare the General Long-term Liabilities Note Disclosure (tab GLTL Note).
Water and Sewer Enterprise Fund
You are given the completed transaction worksheet (tab W&S EF). From the worksheet,
A. Prepare the 20X4 Statement of Revenues, Expenditures, and Changes in Net Position (tab W&S OS).
B. Prepare the 20X4 Statement of Net Position (tab W&S SNP).
Central Communications Network Internal Service Fund
Record the following transactions to tab CCN ISF:
1. Billings to departments for communications network services during 20X4 were as follows:
General Fund departments . . . . . . . . . . . . . . . . . . . . . . $57,070
Water and Sewer Department . . . . . . . . . . . . . . . . . . . . 33,000
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $90,070
2. The department collected $61,000 from the General Fund and $30,000 from the Enterprise Fund.
3. Payroll of $60,000 was paid, and $3,000 was contributed to the statewide retirement system.
4. The department purchased materials and supplies costing $14,000 and a voucher was approved.
5. Materials and supplies costing $17,700 were used by the Central Communications Network during 20X4.
6. Vouchers payable of $15,000 were paid.
7. Depreciation for the year was $8,370.
8. Salaries and wages of $1,000 were accrued at the end of the year.
Police and Fire Pension Trust Fund
You are given the completed transaction worksheet (tab PTF WS). From the worksheet,
A. Prepare the 20X4 Statement of Changes in Net Position (tab PTF OS).
B. Prepare the 20X4 Statement of Net Position (tab PTF SNP).
Fund and Government-Wide Financial Statements
The tabs colored purple are the fund and government-wide statements. If all of your previous work is correct, your statements will be complete and will balance. Review the purple tabs to ensure all of your statements are complete and correct. Once they are correct, you are done with the assignment and may submit the entire workbook to your instructor.