Essentials of Accounting for Governmental and Not-for-Profit Organizations 11th Edition Copley
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CHAPTER 8 Government-Wide Statements, Capital Assets, Long-Term Debt
8-1. THE SOLUTION TO THIS AND THE FIRST EXERCISE OF CHAPTERS 1 THROUGH 8 WILL DIFFER FROM STUDENT TO STUDENT ASSUMING EACH HAS A DIFFERENT CAFR.
8-2. THE MOST COMMON NONEXCHANGE TRANSACTION THAT RESULTS IN A DIFFERENCE BETWEEN ACCRUAL AND MODIFIED ACCRUAL ACCOUNTING IS PROPERTY TAX REVENUE. UNDER MODIFIED ACCRUAL, PROPERTY TAXES EXPECTED TO BE COLLECTED MORE THAN 60 DAYS AFTER YEAR END ARE DEFERRED UNDER MODIFIED ACCRUAL ACCOUNTING BUT WOULD NOT BE DEFERRED IN THE GOVERNMENT-WIDE STATEMENTS USING ACCRUAL ACCOUNTING ANOTHER COMMON REVENUE THAT RESULTS IN DIFFERENCES IS INCOME TAXES. IT IS COMMON THAT INCOME TAXES MAY NOT BE COLLECTED IN TIME TO MEET THE “AVAILABLE” CRITERIA USED FOR MODIFIED ACCRUAL RECOGNITION.
IN CONTRAST, MANADATED AND VOLUNTARY NONEXCHANGE TRANSACTIONS (GRANTS) TYPICALLY RESULT IN REVENUE RECOGNITION IN THE SAME PERIODS UNDER THE ACCRUAL AND MODIFIED ACCRUAL BASES.
8-3. INTERNAL SERVICE FUNDS MOST COMMONLY PROVIDE GOODS AND SERVICES TO GOVERNMENT DEPARTMENTS CLASSIFIED WITHIN GOVERNMENTAL ACTIVITIES.THESE DEPARTMENTS ARE TYPICALLY REPORTED IN THE GENERAL FUND. FOR THIS REASON, THE ASSETS, LIABILTIES AND NET ASSETS USED TO ACCOMPLISH GOVERMENTAL ACTIVITIES, INCLUDING THOSE CLASSIFIED AS INTERNAL SERVICE FUND ACTIVITIES, ARE REPORTED AS GOVERNMENTAL ACTIVITIES IN THE STATEMENT OF NET ASSETS.HOWEVER, IF AN INTERNAL SERVICE FUND PREDOMINANTLY PROVIDED GOODS AND SERVICES TO ENTERPRISE
Chapter 08- Government-Wide Statements, Capital Assets, Long-Term Debt 8-1
8-4.
FUNDS, IT SHOULD BE REPORTED IN THE BUSINESS ACTIVITIES COLUMN OF THE STATEMENT OF NET ASSETS
A. INFRASTRUCTURE, ACCORDING TO GASB STATEMENT 34, REPRESENTS “LONG-LIVED CAPITAL ASSETS THAT NORMALLY ARE STATIONARY IN NATURE AND NORMALLY CAN BE PRESERVED FOR A SIGNIFICANTLY GREATER NUMBER OF YEARS THAN MOST CAPITAL ASSETS EXAMPLES OF INFRASTRUCTURE ASSETS INCLUDE ROADS, BRIDGES, TUNNELS, DRAINAGE SYSTEMS, WATER AND SEWER SYSTEMS, DAMS, AND LIGHTING SYSTEMS.”
B. A GOVERNMENT MAY RECORD INFRASTRUCTURE AND DEPRECIATE IT AS ANY OTHER FIXED ASSETS OR MAY USE THE “MODIFIED” METHOD.THE DIFFERENCES ARE THAT UNDER THE “MODIFIED METHOD” GOVERNMENTS EXPENSE AMOUNTS THAT ARE EXPENDED TO EXTEND THE LIFE OF THE INFRASTRUCTURE (BUT NOT IMPROVE IT) AND THEN ARE NOT REQUIRED TO RECORD DEPRECIATON ON THAT INFRASTRUCTURE
08- Government-Wide
8-2
Chapter
Statements, Capital Assets, Long-Term Debt
8-4(CONTINUED)
C. TO USE THE MODIFIED APPROACH, TWO CONDITIONS MUST EXIST
a. FIRST, THE GOVERNMENT MUST HAVE AN ASSET MANAGEMENT SYSTEM THAT (1) KEEPS AN UP-TO-DATE INVENTORY OF ELIGIBLE INFRASTRUCTURE ASSETS, (2) PERFORMS CONDITION ASSESSMENTS OF THOSE ELIGIBLE INFRASTRUCTURE ASSETS AT LEAST EVERY THREE YEARS, USING A CONSISTENT MEASUREMENT SCALE, AND
(3) ESTIMATES EACH YEAR THE ANNUAL AMOUNT TO MAINTAIN AND PRESERVE THOSE ASSETS AT THE CONDITION LEVEL ESTABLISHED AND DISCLOSED BY THE GOVERNMENT
b. SECOND, THE GOVERNMENT MUST DOCUMENT THAT THE ELIGIBLE INFRASTRUCTURE ASSETS ARE BEING MAINTAINED AT A LEVEL AT OR ABOVE THE CONDITION LEVEL ESTABLISHED AND DISCLOSED BY THE GOVERNMENT.
D. TWO REQUIRED SUPPLEMENTARY INFORMATION SCHEDULES MUST BE PREPARED, WHEN USING THE MODIFIED APPROACH ONE IS A SCHEDULE THAT DISCLOSES THE ASSESSED CONDITION OF ELIGIBLE INFRASTRUCTURE ASSETS. THE SECOND REPORTS THAT ESTIMATED ANNUAL AMOUNT TO MAINTAIN AND PRESERVE ELIGIBLE INFRASTRUCTURE ASSETS COMPARED WITH THE AMOUNT ACTUALLY EXPENDED FOR EACH OF THE PRECEDING FIVE FISCAL PERIODS.
8-5.
1. GOVERNMENTAL FUND STATEMENTS ARE TO BE PREPARED USING THE CURRENT FINANCIAL RESOURCES MASUREMENT FOCUS AND MODIFIED ACCRUAL BASIS OF ACCOUNTING.
PROPRIETARY FUND, FIDUCIARY FUND, AND GOVERNMENT-WIDE STATEMENTS ARE TO BE PREPARED USING THE ECONOMIC RESOURCE MEASUREMENT FOCUS AND ACCRUAL BASIS OF ACCOUNTING
2.A. DISCRETELY PRESENTED COMPONENT UNITS ARE INCLUDED IN THE GOVERNMENT-WIDE BUT NOT THE FUND FINANCIAL STATEMENTS.
B. FIDUCIARY FUNDS ARE INCLUDED IN THE FUND FINANCIAL STATEMENTS; STATEMENTS INCLUDE THE STATEMENT OF FIDUCIARY NET ASSETS AND THE STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS. FIDUCIARY FUNDS ARE NOT INCLUDED IN THE GOVERNMENTWIDE FINANCIAL STATEMENTS
C. INTERNAL SERVICE FUNDS ARE REPORTED IN THE PROPRIETARY FUNDS STATEMENT OF NET ASSETS AND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS. INTERNAL SERVICE FUNDS, HOWEVER, ARE USUALLY PRESENTED IN THE GOVERNMENTWIDE STATEMENTS AS GOVERNMENTAL, NOT BUSINESS-TYPE ACTIVITIES.
3.A. THE CATEGORY, INVESTED IN CAPITAL ASSETS, NET OF RELATED DEBT, INCLUDES ALL CAPITAL ASSETS, LESS DEPRECIATION LESS DEBT ASSOCIATED WITH THE ACQUISITION OF CAPITAL ASSETS
B. RESTRICTED NET ASSETS INCLUDE NET ASSETS (A) EXTERNALLY IMPOSED BY CREDITORS (SUCH AS THROUGH DEBT COVENANTS), AND (B) IMPOSED BY LAW THROUGH CONSTITUTIONAL PROVISIONS OR LEGISLATION.
Chapter 08- Government-Wide Statements, Capital Assets, Long-Term Debt 8-3
8-5(CONTINUED).
C. UNRESTRICTED NET ASSETS REPRESENT THOSE NET RESOURCES NOT REPRESENTED IN EITHER OF THE OTHER TWO CATEGORIES. THAT NUMBER IS OBTAINED BY SUBTRACTING FROM TOTAL NET ASSETS THE NET CAPITAL ASSETS, NET OF RELATED DEBT, AND THE RESTRICTED NET ASSETS
8-6. SOME OF THE ITEMS THAT WILL NEED ADJUSTING, WHEN MOVING FROM FUND FINANCIAL STATEMENTS TO GOVERNMENT-WIDE FINANCIAL STATEMENTS, INCLUDE:
A. CAPITAL ASSET RELATED ENTRIES:
1) RECORDING THE BEGINNING BALANCE OF GENERAL FIXED ASSETS AND RELATED ACCUMULATED DEPRECIATION ACCOUNTS.
2) ELIMINATING CONSTRUCTION EXPENDITURES SHOWN IN GOVERNMENTAL FUNDS AND RECORDING THOSE AS CAPITAL ASSETS
3) RECORDING DEPRECIATION EXPENSES FOR GENERAL FIXED ASSETS
4) ADJUST PROCEEDS FROM SALE OF FIXED ASSETS TO GAINS FROM SALE OF FIXED ASSETS AND RECORD THE DISPOSAL OF THE ASSET.
B. LONG-TERM DEBT RELATED ENTRIES:
1) RECORD THE BEGINNING BALANCES OF GENERAL LONG-TERM DEBT.
2) ELIMINATING PROCEEDS OF BONDS SOLD AND RECORDING THE LIABILITIES INCURRED
3) ELIMINATING EXPENDITURES FOR BOND PRINCIPAL AND REDUCING THE ASSOCIATED LIABILITY.
4) MAKING ADJUSTMENTS FOR INTEREST EXPENSE ACCRUALS, INCLUDING AMORTIZATION OF BOND DISCOUNTS AND PREMIUMS
C. MAKING ADJUSTMENTS FOR REVENUE ACCRUALS, TO MEET THE PRIVISIONS OF GASB STATEMENT 33.
D. MAKING ADJUSTMENTS FOR EXPENSE ACCRUALS; FOR EXAMPLE, COMPENSATED ABSENCES
E. INTERNAL SERVICE FUND ENTRIES
1) BRING IN BALANCES OF INTERNAL SERVICE FUND STATEMENT OF NET ASSET ACCOUNTS
2) ADDTRANSACTIONSOFINTERNALSERVICEFUNDSTHATAREWITHEXTERNAL PARTIES.
3) REDUCE GOVERNMENTAL FUND EXPENSES BY THE NET OPERATING PROFIT OF INTERNAL SERVICE FUNDS. GOVERNMENTAL FUND EXPENSES ARE INCREASED BY ANY OPERATING LOSSES IN THE INTERNAL SERVICE FUNDS
F. ELIMINATE ANY TRANSFERS AND OTHER INTERFUND BALANCES THAT ARE WITHIN GOVERNMENTAL ACTIVITIES
8-4
Chapter 08- Government-Wide Statements, Capital Assets, Long-Term Debt
CITY OFSOUTHERN SPRINGS STATEMENT OFNETASSETS
8-5 8-7.
Chapter 08- Government-Wide Statements, Capital Assets, Long-Term Debt
GOVERNMENTAL ACTIVITIES BUSINESS-TYPE ACTIVITIES TOTAL A
C
RECEIVABLES INVENTORIES CAPITAL ASSETS,NET TOTAL ASSETS $1,880,000 450,000 12,500,000 14,830,000 $850,000 1,330,000 520,000 7,050,000 9,750,000 $2,730,000 1,780,000 520,000 19,550,000 24,580,000
A
BONDS PAYABLE TOTAL LIABILITIES 650,000 359,000 8,000,000 9,009,000 559,000 3,210,000 3,769,000 1,209,000 359,000 11,210,000 12,778,000
: I
SSETS,NET OF RELATED
EBT
ESTRICTED
ERVICE
NRESTRICTED TOTAL NET ASSETS 4,500,000 554,000 767,000 $5,821,000 3,840,000 190,000 1,951,000 $5,981,000 8,340,000 744,000 2,718,000 $11,802,000 Governmental Activities Invested in Capital Assets, Net of Debt Restricted Unrestricted Total Invested in Capital Assets, Net of Debt: Capital Assets (net) $ 12,500,000 $ 12,500,000 Less General Obligation Bonds (8,000,000) (8,000,000) Restricted Net Assets: 554,000 554,000 Unrestricted (plug) 767,000 767,000 Total Net Assets $ 4,500,000 554,000 767,000 5,821,000 Business-type Activities Invested in Capital Assets, Net of Debt Restricted Unrestricted Total Invested in Capital Assets, Net of Debt: Capital Assets (net) $ 7,050,000 $ 7,050,000 Less Revenue Bonds (3,210,000) (3,210,000) Restricted Net Assets: 190,000 190,000 Unrestricted (plug) 1,951,000 1,951,000 Total Net Assets $ 3,840,000 190,000 1,951,000 5,981,000
APRIL 30, 2014
SSETS:
ASH AND CASH EQUIVALENTS
LIABILITIES:
CCOUNTS PAYABLE COMPENSATED ABSENCES PAYABLE
NET ASSETS
NVESTED IN CAPITAL A
D
R
FOR DEBT S
U
Chapter 08- Government-Wide Statements, Capital Assets, Long-Term Debt 8-6 8-8. CITYOFNORTHERNPINES STATEMENT OFACTIVITIES YEARENDEDJUNE 30,2014 PROGRAM REVENUES NET (EXPENSE) REVENUE AND CHANGE IN NET ASSETS FUNCTIONS/PROGRAMS EXPENSES CHARGES FOR SERVICES OPERATING GRANTS GOVERNMENTAL ACTIVITIES BUSINESS-TYPE ACTIVITIES TOTAL GOVERNMENTAL ACTIVITIES: GENERAL GOVERNMENT PUBLIC SAFETY PUBLIC WORKS HEALTH AND SANITATION CULTURE AND RECREATION INTEREST ON LONG-TERM DEBT TOTAL GOVERNMENTAL ACTIVITIES $11,760,000 23,900,000 11,290,000 6,210,000 4,198,000 721,000 58,079,000 $1,110,000 210,000 2,555,000 2,198,000 6,073,000 $ 798,000 1,210,000 2,008,000 $(10,650,000) (22,892,000) (11,290,000) (2,445,000) (2,000,000) ( 721,000) (49,998,000) $ $ (10,650,000) (22,892,000) (11,290,000) (2,445,000) (2,000,000) (721,000) (49,998,000) BUSINESS-TYPE ACTIVITIES: WATER AND SEWER SYSTEM PARKING SYSTEM TOTAL BUSINESS-TYPE ACTIVITIES 10,700,000 419,000 11,119,000 11,578,000 398,000 11,976,000 --- --878,000 (21,000) 857,000 878,000 ( 21,000) 857,000 TOTAL $69,198,000 $18,049,000 $2,008,000 (49,998,000) 857,000 (49,141,000) GENERAL REVENUES: PROPERTY TAXES SALES TAXES INVESTMENT EARNINGS SPECIAL ITEM-GAIN ON SALE OF LAND TRANSFERS TOTAL GENERAL REVENUES, SPECIAL ITEMS, AND TRANSFERS CHANGE IN NET ASSETS NET ASSETS, JULY 1, 2013 NET ASSETS, JUNE 30,2014 27,112,000 20,698,000 1,250,000 700,000 49,760,000 (238,000) 14,000,000 $13,762,000 319,000 (700,000) (381,000) 476,000 17,000,000 $17,476,000 27,112,000 20,698,000 319,000 1,250,00049,379,000 238,000 31,000,000 $31,238,000
CITY
Chapter 08- Government-Wide Statements, Capital Assets, Long-Term Debt 8-7 8-9.
WORKSHEET ENTRIES DEBITS CREDITS 1. LAND BUILDINGS IMPROVEMENTS OTHER THAN BUILDINGS EQUIPMENT ACCUMULATED DEPRECIATION,CAPITAL ASSETS NET ASSETS 9,950,000 32,355,000 16,111,000 11,554,000 23,400,000 46,570,000 2. BUILDINGS IMPROVEMENTS OTHER THAN BUILDINGS EXPENDITURES-CAPITAL OUTLAY 4,800,000 1,313,000 6,113,000 3. DEPRECIATION EXPENSE ACCUMULATED DEPRECIATION-BUILDINGS (32,355,000/40) ACCUMULATED DEPRECIATION-IMPROVEMENTS OTHER THAN BUILDINGS (16,111,000/20) ACCUMULATED DEPRECIATION-EQUIPMENT (11,554,000/10) 2,769,825 808,875 805,550 1,155,400 4. SPECIAL ITEM -PROCEEDS FROM SALE OF LAND LAND SPECIAL ITEM: GAIN ON SALE OF LAND 600,000 535,000 65,000 5. NET ASSETS BONDS PAYABLE PREMIUM ON BONDS PAYABLE 4,036,000 4,000,000 36,000 6. PREMIUM ON BONDS PAYABLE INTEREST EXPENSE 3,600 3,600 BONDS PAYABLE EXPENDITURES-PRINCIPAL 400,000 400,000 7. OTHER FINANCING SOURCES-PROCEEDS OF BONDS BONDS PAYABLE 1,700,000 1,700,000
OFGRINDERSSWITCH
Chapter 08- Government-Wide Statements, Capital Assets, Long-Term
8-8 8-10. CITY OFSOUTHPITTSBURGH WORKSHEET ENTRIES DEBITS CREDITS 1. REVENUES-PROPERTY TAXES NET ASSETS 99,400 99,400 2. DEFERRED REVENUES-PROPERTY TAXES REVENUES-PROPERTY TAXES 112,000 112,000 3. PUBLIC SAFETY EXPENSE COMPENSATED ABSENCES PAYABLE 175,000 175,000 4. PUBLIC SAFETY EXPENSE NET PENSION OBLIGATION 22,000 22,000 5. TRANSFERS IN TRANSFERS OUT 1,200,000 1,200,000 8-11. CITYOFSOUTHERN PINES WORKSHEET ENTRIES DEBITS CREDITS 1. CASH INVESTMENTS DUE FROM GENERAL FUND* INVENTORIES CAPITAL ASSETS (NET) ACCOUNTS PAYABLE LONG-TERM ADVANCE FROM ENTERPRISE FUND NET ASSETS 250,000 125,000 15,000 325,000 1,340,000 50,000 700,000 1,305,000 * DUE TO INTERNAL SERVICE FUND (GENERAL FUND) DUE FROM GENERAL FUND (INTERNAL SERVICE FUND) 15,000 15,000 2. NET ASSETS INTEREST REVENUE 3,750 3,750 3. NET ASSETS EXPENDITURES-GENERAL GOVERNMENT EXPENDITURES-PUBLIC SAFETY EXPENDITURES-PUBLIC WORKS 36,000 12,000 12,000 12,000
Debt
Chapter 08- Government-Wide Statements, Capital Assets, Long-Term Debt 8-9 8-12 SHENANDOAH CITY WORKSHEET ENTRIES FORTHE YEARENDED DECEMBER31, 2014 DEBITS CREDITS CAPITAL ASSETS LAND BUILDINGS INFRASTRUCTURE EQUIPMENT ACCUMULATED DEPRECIATION -BUILDINGS ACCUMULATED DEPRECIATION - INFRASTRUCTURE ACCUMULATED DEPRECIATION -EQUIPMENT NET ASSETS 7,230,000 25,600,000 24,500,000 6,370,000 13,000,000 9,000,000 3,100,000 38,600,000 EQUIPMENT BUILDINGS EXPENDITURES-CAPITAL OUTLAY 856,700 4,117,450 4,974,150 DEPRECIATION EXPENSE ACCUMULATED DEPRECIATION -BUILDINGS ACCUMULATED DEPRECIATION - INFRASTRUCTURE ACCUMULATED DEPRECIATION -EQUIPMENT 2,612,500 1,100,000 975,000 537,500 LONG TERM DEBT NET ASSETS BONDS PAYABLE 6,000,000 6,000,000 OTHER FINANCING SOURCES -PROCEEDS OF BONDS OTHER FINANCING SOURCES-PREMIUM ON BONDS BONDS PAYABLE PREMIUM ON BONDS PAYABLE 4,000,000 50,000 4,000,000 50,000 BONDS PAYABLE EXPENDITURES-DEBT SERVICE-BOND PRINCIPAL 400,000 400,000 INTEREST INTEREST EXPENSE ACCRUED INTEREST PAYABLE [(6,000,000 – 400,000) *6% *6/12] +[(4,000,000) *5% *6/12] 268,000 268,000 NET ASSETS INTEREST EXPENSE (2013 ACCRUAL REVERSAL) 180,000 180,000 PREMIUM ON BONDS PAYABLE INTEREST EXPENSE 2,500 2,500
Chapter 08- Government-Wide Statements, Capital Assets, Long-Term Debt
8-12(CONTINUED).
8-10
SHENANDOAH
DEBITS CREDITS DEFERRED REVENUES REVENUES-PROPERTY TAXES NET ASSETS 37,000 37,000 DEFERRED REVENUES REVENUES-PROPERTY TAXES 46,000 46,000 ACCRUED LIABILITIES NET ASSETS ACCRUED LANDFILL CLOSURE AND POSTCLOSURE CARE COSTS 29,500 29,500 PUBLIC WORKS EXPENSES (CLOSURE AND POSTCLOSURE CARE) ACCRUED LANDFILL CLOSURE AND POSTCLOSURE CARE COSTS 10,000 10,000 INTERNAL SERVICE ACTIVITIES CASH DUE FROM OTHER FUNDS INVENTORIES LAND BUILDINGS EQUIPMENT ACCUMULATED DEPRECIATION –BUILDINGS ACCUMULATED DEPRECIATION -EQUIPMENT ACCOUNTS PAYABLE ADVANCE FROM WATER UTILITY FUND NET ASSETS 35,000 21,200 17,000 25,000 44,000 21,000 13,200 12,600 18,400 10,000 109,000 NET ASSETS INVESTMENT INCOME 5,000 5,000 EXPENDITURES-CURRENT-GENERAL GOVERNMENT NET ASSETS 3,000 3,000 INTERFUND BALANCES TRANSFERS IN TRANSFERS OUT 137,450 137,450 DUE TO OTHER FUNDS DUE FROM OTHER FUNDS 10,200 10,200
CITY WORKSHEET ENTRIES (CONTINUED)
Chapter 08- Government-Wide Statements, Capital Assets, Long-Term
Chapter 08- Government-Wide Statements, Capital Assets, Long-Term Debt
SHADED AREAS ARE BUSINESS-TYPE ACTIVITIES THE AMOUNTS ARE ASSUMED AND NOT PART OF THE EXERCISE.
8-16
OF COTTONWOOD
TATEMENT OF ACTIVITIES
OR THE YEAR ENDED DECEMBER 31, 2014
RIMARY GOVERNMENT NET (EXPENSE) REVENUE AND CHANGE IN NET ASSETS FUNCTIONS/PROGRAMS EXPENSES CHARGES FOR SERVICES GOVERNMENTAL ACTIVITIES BUSINESSTYPE ACTIVITIES TOTAL GOVERNMENTAL ACTIVITIES: GENERAL GOVERNMENT 3,074,532 1,156,497 (1,918,035) - (1,918,035) JUDICIAL ADMINISTRATION 4,400,325 44,018 (4,356,307) - (4,356,307) PUBLIC SAFETY 6,528,125 275,492 (6,252,633) - (6,252,633) PUBLIC WORKS 4,943,945 - (4,943,945) - (4,943,945) HEALTH AND WELFARE 4,418,294 - (4,418,294) - (4,418,294) EDUCATION 3,887,834 - (3,887,834) - (3,887,834) PARKS AND RECREATION 3,155,325 604,359 (2,550,966) - (2,550,966) COMMUNITY DEVELOPMENT 1,793,013 51,611 (1,741,402) - (1,741,402) DEPRECIATION EXPENSE 2,200,000 (2,200,000) - (2,200,000) INTEREST ON LONG-TERM DEBT 1,136,318 - (1,136,318) - (1,136,318) TOTAL GOVERNMENTAL ACTIVITIES 35,537,711 2,131,977 (33,405,734) - (33,405,734) BUSINESS TYPE ACTIVITIES WATER 4,041,987 5,385,233 1,343,246 1,343,246 SOLID WASTE 1,556,633 1,851,433 294,800 294,800 PARKING 481,869 461,107 (20,762) (20,762) TOTAL BUSINESS-TYPE ACTIVITIES 6,080,489 7,697,773 - 1,617,284 1,617,284 TOTAL PRIMARY GOVERNMENT 41,618,200 9,829,750 (33,405,734) 1,617,284 (31,788,450) GENERAL REVENUES PROPERTY TAXES 24,602,114 24,583,914 OTHER LOCAL TAXES 11,403,125 11,403,125 MISCELLANEOUS 1,302,422 1,302,422 TRANSFERS (526,755) 526,755TOTAL GENERAL REVENUES 36,780,906 36,762,706 526,755 CHANGE IN NET ASSETS 3,478,676 3,356,972 2,144,039 NET ASSETS, BEGINNING 18,220,062 17,271,149 29,897,624 NET ASSETS, ENDING 21,698,738 20,628,121 32,041,663
8-14PART 3 CITY
S
F
P
Chapter 08- Government-Wide Statements, Capital Assets, Long-Term
8-14PART 3 CONTINUED
CITY OF COTTONWOOD
