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City of Monroe - City Jail Construction Fund
CITY JAIL CAPITAL PROJECTS FUND CONTRACTS PAYABLE
reference
Account Titles Debits Credits CASH ACCOUNTS PAYABLE RETAINED PERCENTAGE
14,200,000 200,000 11,282,500 867,500 8
5-C-1 91,320,000 116,000 3 11 1,282,500 12 67,500
1 Cash 4,200,000 50,000 53,217,500 12
Other Financing Sources - Proceeds of Bonds 4,000,000 150,000 6 12 3,217,500
Other Financing Sources - Premium on Bonds 200,000 1,282,500 11 439,300 13
3,217,500 12 50,000 14
Other Financing Uses-Transfer Out 200,000 489,300 15 15 489,300
Cash 200,000 14,700 15
2 Due From State Government 1,320,000 - -
Revenues - Intergovernmental 1,320,000 -
BUDGETARY FUND BALANCE
3 Capital Expenditure 116,000 DUE FROM STATE 4 ENCUMBRANCES
RESERVE FOR ENCUMBRANCES
RESERVE FOR ENCUMBRANCES
Cash 116,000 GOVERNMENT 7250,000 50,000 5 5 50,000 250,000 4
2
1,320,000 10 4,500,000 150,000 6 6 150,000 4,500,000 7
4 Encumbrances Control 250,000 1,320,000 9439,500 1,350,000 8 8 1,350,000 439,500 10
Budgetary F/B - Reserve for Encumbrances 250,000 3,150,000 12 12 3,150,000
439,500 13 13 439,500
5 Budgetary Fund Balance - Reserve for Encumbrances 50,000 50,000 14 14 50,000
Encumbrances Control 50,000
-
Capital Expenditure 50,000 - -
Cash 50,000
CAPITAL OTHER FIN. USES
6 Budgetary Fund Balance - Reserve for Encumbrances 150,000 EXPENDITURES 1TRANSFERS OUT
Encumbrances Control 150,000 3116,000 16 200,000
550,000 14,700
Capital Expenditure 150,000 6150,000
Cash 150,000 81,350,000
12 3,150,000
7 Encumbrances Control 4,500,000 13 439,300
Budgetary F/B - Reserve for Encumbrances 4,500,000 14 50,000
8 Budgetary Fund Balance - Reserve for Encumbrances 1,350,000
Encumbrances Control 1,350,000 5,305,300 214,700
Capital Expenditure 1,350,000
Accounts payable 1,282,500 REVENUES OTHER FIN. SOURCES OTHER FIN. SOURCES
Contracts payable - retained percentage 67,500 INTERGOVERNMENTAL BOND PROCEEDS BOND PREMIUM
1,320,000 24,000,000 1200,000 1
9 Cash 1,320,000
Due From State Government 1,320,000
1,320,000 4,000,000 200,000
10 Encumbrances Control 439,500
Budgetary F/B - Reserve for Encumbrances 439,500
Total Debits 5,520,000
11 Accounts payable 1,282,500 Total Credits 5,520,000
Cash 1,282,500
City of Monroe - City Jail Construction Fund
12 Budgetary Fund Balance - Reserve for Encumbrances 3,150,000
Encumbrances Control 3,150,000
Capital Expenditure 3,150,000
Contracts payable - retained percentage 67,500
Accounts payable 3,217,500
Accounts payable 3,217,500
Cash 3,217,500
13 Budgetary Fund Balance - Reserve for Encumbrances 439,500
Encumbrances Control 439,500
Capital Expenditure 439,300
Accounts payable 439,300
14 Budgetary Fund Balance - Reserve for Encumbrances 50,000
Encumbrances Control 50,000
Capital Expenditure 50,000
Accounts payable 50,000
15 Accounts payable 489,300
Cash 489,300
16 Other Financing Uses-Transfer Out 14,700
Cash 14,700
debits = credits ??? 27,795,800 27,795,800
City of Monroe
Debt Service Funds
CASH FUND BALANCE ASSIGNED
reference
Account Titles Debits Credits CASH WITH FISCAL AGENT FOR DEBT SERVICE
CITY HALL DEBT SERVICE FUND bb bb 580,000 580,000 bb
5-C-2 2574,000 580,000 1
1 Expenditures - Bond Interest 180,000 574,000 2 2 574,000 574,000 3
Expenditures - Bond Principal 400,000 4568,000
Cash with Fiscal Agent 580,000 568,000 5 5 568,000
2 Cash 574,000
Other Financing Sources-Transfer In 574,000 - 568,000 580,000
Cash with Fiscal Agent 574,000
Cash 574,000
EXPENDITURES - EXPENDITURES - OTHER FIN. SOURCES
3 Expenditures - Bond Interest 174,000 BOND INTEREST BOND PRINCIPAL TRANSFERS IN
Expenditures - Bond Principal 400,000 1180,000 1400,000 574,000 2
Cash with Fiscal Agent 574,000 3174,000 3400,000 568,000 5
4 Cash 568,000
Other Financing Sources-Transfer In 568,000 354,000 800,000 1,142,000
5 Cash with Fiscal Agent 568,000
Cash 568,000 Total Debits 1,722,000
Total Credits 1,722,000
CASH
reference
Account Titles Debits Credits CASH WITH FISCAL AGENT INVESTMENTS
CITY JAIL DEBT SERVICE FUND
1200,000
5-C-3 2160,000 160,000 2 2 160,000
1 Cash 200,000 414,700 160,000 3
Other Financing Sources-Transfer In 200,000 5360,000 360,000 5 5 360,000
200,000 6 6 200,000
2 Cash 160,000
Other Financing Sources-Transfer In 160,000 14,700 360,000 200,000
Cash with Fiscal Agent 160,000
Cash 160,000
EXPENDITURES - EXPENDITURES - OTHER FIN. SOURCES
3 Expenditures - Bond Interest 160,000 BOND INTEREST BOND PRINCIPAL TRANSFERS IN
Cash with Fiscal Agent 160,000 3160,000 200,000 1
160,000 2
4 Cash 14,700 14,700 4
Other Financing Sources-Transfer In 14,700 360,000 5
5 Cash 360,000 160,000 - 734,700
Other Financing Sources-Transfer In 360,000
Total Debits 734,700
Cash with Fiscal Agent 360,000 Total Credits 734,700
Cash 360,000
6 Investments 200,000
Cash 200,000
City of Monroe
Debt Service Funds
debits = credits ???
5,052,700 5,052,700
City of Monroe
CAPITAL PROJECT AND DEBT SERVICE FUND - Closing Entries
CAPITAL PROJECTS FUND
CAPITAL PROJECTS
Account Title Debits Credits FUND BALANCE
0Preclosing
Revenues - Intergovernmental 1,320,000
OFS - Proceeds of Bonds 4,000,000
0closing entry
OFS - Premium on Bonds 200,000
Fund balance -
Capital Expenditures 5,305,300
0ending balance
OFU - Transfers Out 214,700
CITY HALL DEBT SERVICE FUND
CITY HALL DSF
580,000 Preclosing
Fund balance 12,000
Expenditures - Bond Interest 354,000
568,000 ending balance
Expenditures - Bond Principal 800,000
CITY JAIL DEBT SERVICE FUND CITY JAIL DSF
Account Title Debits Credits FUND BALANCE
0Preclosing
Expenditures - Bond Interest 160,000
574,700 ending balance
Expenditures - Bond Principal -
City of Monroe
Statement of Revenues, Expenditures and Changes in Fund Balance
Governmental-type Funds
For the year ended December 31, 2015
General
Street and
Highway
City Hall
Debt Service
City Jail
Debt Service
City Jail
Construction
Total
Governmental
Funds
Revenues
Property Taxes 6,657,500$ 6,657,500$
Sales Taxes 2,942,000 2,942,000
Interest & penalties 16,100 5,120 21,220
Licenses and Permits 800,000 800,000
Intergovernmental Revenues 332,000 1,072,000 1,320,000 2,724,000
Miscellaneous Revenues 350,000 350,000
Total Revenues 11,097,600 1,077,120 - - 1,320,000 13,494,720
Expenditures
Current:
General Government 1,646,900 1,646,900
Public Safety 3,026,900 3,026,900
Highways and Streets 1,441,400 1,030,500 2,471,900
Sanitation 591,400 591,400
Health 724,100 724,100
Welfare 374,300 374,300
Culture and Recreation 917,300 917,300
Capital Outlay 492,800 5,305,300 5,798,100
Debt Service -
Principal 800,000 800,000
Interest 354,000 160,000 514,000
Total Expenditures 9,215,100 1,030,500 1,154,000 160,000 5,305,300 16,864,900
Excess (Deficiency) of Revenues Over Expenditures
1,882,500 46,620 (1,154,000) (160,000) (3,985,300) (3,370,180)
Other Financing Sources (Uses) -
Proceeds of Bonds 4,000,000 4,000,000
Premium on Bonds Sold 200,000 200,000
Transfers In 1,142,000 734,700 1,876,700
Transfers Out (1,662,000) (214,700) (1,876,700)
Total Other Financing Sources (Uses) (1,662,000) - 1,142,000 734,700 3,985,300 4,200,000
Amounts shaded in blue came
from Chapter 4 assignment
City of Monroe
Statement of Revenues, Expenditures and Changes in Fund Balance
Governmental-type Funds
For the year ended December 31, 2015
Net Change in Fund Balance 220,500 46,620 (12,000) 574,700 - 829,820
City of Monroe
Balance Sheet
Governmental-type Funds
As of December 31, 2015
General
Street and
Highway
City Hall
Debt Service
City Jail
Debt Service
Total
Governmental
Funds
Assets
Cash 727,500$ 88,120$ -$ 14,700$ 830,320$
Cash with Fiscal Agent 568,000 360,000 928,000
Investments 59,000 200,000 259,000
Taxes Reveivable - (net) 274,000 274,000
Due from State Government 384,000 196,000 580,000
Total Assets 1,402,350$ 343,120$ 568,000$ 574,700$ 2,888,170$
Liabilities, Deferred Inflows and Fund Balance
Liabilities
Accounts Payable 376,900$ 116,500$ 493,400$
Due to Other funds 40,200 40,200
Total Liabilities 417,100 116,500 - - 533,600
Deferred Inflows
Property Taxes 27,500 27,500
Fund Balances
Restricted for Street & Highway Maintenance
226,620 226,620
Assigned for: -
Debt Service 568,000 574,700 1,142,700
Other Purposes 58,000 58,000
Unassigned 899,750 899,750
Total Fund Equity 957,750 226,620 568,000 574,700 2,327,070
Amounts shaded in blue came
from Chapter 4 assignment
City of Monroe
Balance Sheet
Governmental-type Funds
As of December 31, 2015
Total Liabilities, Deferred Inflows and Fund Balance
1,402,350$ 343,120$ 568,000$ 574,700$ 2,888,170$
