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Accounting for Other Governmental Funds
5-18
5-1. THE SOLUTION TO THIS AND THE FIRST EXERCISE OF CHAPTERS 1 THROUGH 8 WILL
5-2. IN DETERMINING THE APPROPRIATE FUND TO RECORD THE TRUST, IT IS IMPORTANT TO
(2) ALTERNATIVELY WHETHER THE TRUST BENEFITS INDIVIDUALS, PRIVATE
ORGANIZATIONS OR OTHER GOVERNMENTS.
IF THE TRUST BENEFITS INDIVIDUALS, PRIVATE ORGANIZATIONS OR OTHER
5-3. AT THE INCEPTION OF THE LEASE, THE PRESENT VALUE OF THE MINIMUM LEASE
PAYMENTS SHOULD BE REPORTED AS A CAPITAL EXPENDITURE AND AN OTHER FINANCING
SOURCE WITHIN AN APPROPRIATE GOVERNMENTAL TYPE FUND (TYPICALLY THE GENERAL
Accounting for Other Governmental Funds
5-4 (A)
SPENCER COUNTY
COURTHOUSE ANNEX CAPITAL PROJECTS FUND
GENERAL JOURNAL
CLOSING ENTRY
DEBITS
CREDITS
OTHER FINANCING SOURCES-PROCEEDS OF BONDS
OTHER FINANCING SOURCES-PREMIUM ON BONDS
INTERGOVERNMENTAL REVENUE
CAPITAL EXPENDITURES
OTHER FINANCING USES-TRANSFERS OUT
FUND BALANCE
2,000,000
45,000
400,000
1,850,000
45,000
550,000
BUDGETARY FUND BALANCE – RESERVE FOR ENCUMBRANCES
ENCUMBRANCES
85,000
85,000
5-4 (B)
SPENCER COUNTY
COURTHOUSE ANNEX CAPITAL PROJECTS FUND
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE
Accounting for Other Governmental Funds
5-20
5-4 (C)
SPENCER COUNTY
COURTHOUSE ANNEX CAPITAL PROJECTS FUND
BALANCE SHEET
AS OF DECEMBER 31, 2015
CASH
$ 900,000
DUE FROM STATE GOVERNMENT
200,000
TOTAL ASSETS
$1,100,000
LIABILITIES:
CONTRACT PAYABLE
$ 550,000
FUND BALANCE:
RESTRICTED FOR COURTHOUSE ANNEX
550,000
TOTAL LIABILITIES AND FUND BALANCE
$1,100,000
5 -5(A)
EASTVILLE CITY
LIBRARY PERMANENT FUND
GENERAL JOURNAL
CLOSING ENTRY
DEBITS
CREDITS
REVENUES: ADDITIONS TO PERMANENT ENDOWMENTS
REVENUES: INVESTMENT INCOME
REVENUES: INCREASE IN FAIR VALUE OF INVESTMENTS
EXPENDITURES – SUBSCRIPTIONS
FUND BALANCE
500,000
52,000
8,000
49,500
510,500
Accounting for Other Governmental Funds
5-5 (B)
EASTVILLE CITY
LIBRARY PERMANENT FUND
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE
Accounting for Other Governmental Funds
5-6 (A).
DEBITS
CREDITS
1.
CASH
OTHER FINANCING SOURCES-
PROCEEDS OF BONDS
8,500,000
8,500,000
2.
ENCUMBRANCES CONTROL
BUDGETARY FUND BALANCE - RESERVE FOR ENCUMBRANCES
8,400,000
8,400,000
3.
BUDGETARY FUND BALANCE - RESERVE FOR ENCUMBRANCES
ENCUMBRANCES CONTROL
CONSTRUCTION EXPENDITURES
CONTRACTS PAYABLE
CONTRACTS PAYABLE
CONTRACTS PAYABLE-RETAINED PERCENTAGE
CASH
6,000,000
6,000,000
6,000,000
6,000,000
6,000,000
300,000
5,700,000
4.
BUDGETARY FUND BALANCE - RESERVE FOR ENCUMBRANCES
ENCUMBRANCES CONTROL
CONSTRUCTION EXPENDITURES
CONTRACTS PAYABLE
CONTRACTS PAYABLE
CONTRACTS PAYABLE-RETAINED PERCENTAGE
CASH
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
120,000
2,280,000
5.
CONTRACTS PAYABLE-RETAINED PERCENTAGE
CONSTRUCTION EXPENDITURES
ACCOUNTS PAYABLE
420,000
97,000
517,000
6A..
ACCOUNTS PAYABLE
CASH
517,000
517,000
6B.
OTHER FINANCING USES-TRANSFERS OUT
CASH
3,000
3,000
7.
OTHER FINANCING SOURCES-PROCEEDS OF BONDS
CONSTRUCTION EXPENDITURES
OTHER FINANCING USES-TRANSFERS OUT
8,500,000
8,497,000
3,000
Accounting for Other Governmental Funds
5-6 (B).
ARMSTRONG COUNTY
COUNTY OFFICE BUILDING CONSTRUCTION FUND
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE
Accounting for Other Governmental Funds
5-7 (A).
Accounting for Other Governmental Funds
5-7(B)
VILLAGE OF HARRIS
DEBT SERVICE FUND
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE
Accounting for Other Governmental Funds
5-8.
VILLAGE OF EDEN
DEBT SERVICE FUND – SPECIAL ASSESSMENT DEBT
GENERAL JOURNAL
DEBITS
CREDITS
DEFERRED INFLOW – PROPERTY TAXES
SPECIAL ASSESSMENT REVENUE
150,000
150,000
CASH
SPECIAL ASSESSMENT TAX RECEIVABLE
150,000
150,000
EXPENDITURE – INTEREST
EXPENDITURE – PRINCIPAL
CASH
22,500
127,500
150,000
SPECIAL ASSESSMENT REVENUE
EXPENDITURE – INTEREST
EXPENDITURE – PRINCIPAL
150,000
22,500
127,500
Accounting for Other Governmental Funds
5-9 (A)
VILLAGE OF BUDEKVILLE
DEBITS
CREDITS
1.
CASH
OTHER FINANCING SOURCES-PROCEEDS OF BONDS
3,000,000
3,000,000
2.
NO ENTRY IN CAPITAL PROJECTS
3.
CONSTRUCTION EXPENDITURES
CASH
2,997,000
2,997,000
4.
OTHER FINANCING USES-TRANSFERS OUT
CASH
3,000
3,000
CE
CAPITAL PROJECTS FUND
OTHER FINANCING SOURCES-PROCEEDS OF BONDS
CONSTRUCTION EXPENDITURES
OTHER FINANCING USES-TRANSFERS OUT
3,000,000
2,997,000
3,000
5-9 (B)
VILLAGE OF BUDEKVILLE
DEBITS
CREDITS
1.
NO ENTRY IN DEBT SERVICE FUND
2.
CASH
OTHER FINANCING SOURCES-TRANSFERS IN
($ 3,000,000 * 4% *6/12)
60,000
60,000
EXPENDITURES-INTEREST
CASH
60,000
60,000
3.
NO ENTRY IN DEBT SERVICE FUND
4.
CASH
OTHER FINANCING SOURCES-TRANSFERS IN
3,000
3,000
CE
OTHER FINANCING SOURCES-TRANSFERS IN
EXPENDITURES-BOND INTEREST
FUND BALANCE
63,000
60,000
3,000
Accounting for Other Governmental Funds
5-28
5-9 (C)
VILLAGE OF BUDEKVILLE
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2015
GENERAL
POLICE
STATION
CONSTRUCTIO
N
DEBT
SERVICE
FUND
TOTAL
GOVERNMENTAL
FUNDS
REVENUES:
PROPERTY TAXES
OTHER
TOTAL REVENUES
$ 512,000
200,000
712,000
$ 512,000
200,000
712,000
EXPENDITURES:
CURRENT:
GENERAL GOVERNMENT
PUBLIC SAFETY
CAPITAL OUTLAY
149,000
450,000
2,997,000
149,000
450,000
2,997,000
DEBT SERVICE:
PRINCIPAL
INTEREST
TOTAL EXPENDITURES
________
599,000
________
2,997,000
0
60,000
60,000
0
60,000
3,656,000
EXCESS (DEFICIENCY) OF
REVENUES OVER
EXPENDITURES
113,000
(2,997,000)
(60,000)
( 2,944,000)
OTHER FINANCING
SOURCES(USES):
PROCEEDS OF BONDS
TRANSFERS IN
TRANSFERS OUT
TOTAL OTHER FINANCING
SOURCES(USES)
( 125,000)
(125,000)
3,000,000
(3,000)
2,997,000
63,000
________
63,000
3,000,000
63,000
( 128,000)
2, 935,000
NET CHANGE IN FUND
BALANCES
(12,000)
0
3,000
(9,000)
FUND BALANCES-
BEGINNING
175,000
0
0
175,000
FUND BALANCES-ENDING
$163,000
$ 0
$ 3,000
$ 166,000
Accounting for Other Governmental Funds
5-29
5-10(A)
CITY OF GENOA
GENERAL JOURNAL
DEBITS
CREDITS
CAPITAL PROJECTS FUND 7/1/2014
EXPENDITURES-CAPITAL OUTLAY
OTHER FINANCING SOURCES-CAPITAL LEASE AGREEMENTS
CASH
$68,190
$53,190
15,000
(FUNDS PROVIDED FOR FUTURE LEASE AGREEMENTS =PRESENT VALUE OF FOUR $15,000 PAYMENTS,
DISCOUNTED AT 5 PERCENT = $53,190)
DEBT SERVICE FUND JULY 1, 2015
EXPENDITURES-INTEREST
EXPENDITURES-PRINCIPAL
CASH
2,660
12,340
15,000
(Interest = $53,190 x .05 = $2,660. Principal = $15,000 – $2,660 = $12,340)
5-10 (B)
THE FIXED ASSET AND LONG-TERM LIABILITY ASSOCIATED WITH THIS CAPITAL LEASE
5-11.
TOWN OF MCHENRY
DEBT SERVICE FUND
DEBITS
CREDITS
CASH
OTHER FINANCING SOURCES-REFUNDING BONDS ISSUED
8,000,000
8,000,000
OTHER FINANCING USES-REFUNDING OF EXISTING DEBT
CASH
8,000,000
8,000,000
