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Chapter 06 - Proprietary Funds
6-11 (A) - CONTINUED
CITY OF EVANSVILLE
SUMMER CAMP ENTERPRISE FUND
STATEMENT OF REVENUES, EXPENSES, AND CHANGES
IN FUND NET POSITION
FOR THE YEAR ENDED DECEMBER 31, 2015
OPERATING REVENUES:
CHARGES FOR SALES AND SERVICES
OPERATING EXPENSES:
WAGES
PAYROLL TAXES
INSURANCE
DEPRECIATION
TOTAL OPERATING EXPENSES
$ 66,575
14,150
6,000
10,500
$ 130,000
97,225
OPERATING INCOME
NONOPERATING REVENUES (EXPENSES):
INTEREST ON LONG-TERM DEBT
32,775
(2,025)
CHANGE IN NET POSITION
30,750
NET POSITION – JANUARY 1, 2015
18,000
NET POSITION – DECEMBER 31, 2015
$ 48,750
Chapter 06 - Proprietary Funds
6-11 (B)
CITY OF EVANSVILLE
SUMMER CAMP SPECIAL REVENUE FUND
GENERAL JOURNAL
FISCAL YEAR 2015
DEBITS
CREDITS
1. CASH
REVENUES-CHARGES FOR SERVICES
130,000
130,000
1.CASH
OTHER FINANCING SOURCES: PROCEEDS FROM
ISSUANCE OF LONG-TERM NOTE PAYABLE
45,000
45,000
1.CURRENT EXPENDITURES
PAYROLL TAX
WAGES
INSURANCE
DEBT SERVICE EXPENDITURE - INTEREST
CAPITAL EXPENDITURE
CASH
13,250
66,575
6,000
1,350
70,000
157,175
2. NO ACCRUAL FOR INTERST
3. NO DEPRECIATION
4. OPERATING EXPENSES-PAYROLL TAXES
PAYROLL TAXES PAYABLE
900
900
REVENUES-CHARGES FOR SERVICES
OTHER FINANCING SOURCES – DEBT PROCEEDS
EXPENDITURES-PAYROLL TAXES
EXPENDITURES - WAGES
EXPENDITURES- INSURANCE
DEBT SERVICE EXPENDITURE-INTEREST
CAPITAL EXPENDITURE
FUND BALANCE
130,000
45,000
14,150
66,575
6,000
1,350
70,000
16,925
Chapter 06 - Proprietary Funds
6-21
6-11 (B) - CONTINUED
CITY OF EVANSVILLE
SUMMER CAMP SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITUES AND CHANGES
IN FUND BALANCE
FOR THE YEAR ENDED DECEMBER 31, 2015
REVENUES:
CHARGE FOR SERVICES
$ 130,000
EXPENDITURES:
CURRENT:
WAGES
66,575
PAYROLL TAXES
14,150
INSURANCE
6,000
DEBT SERVICE - INTEREST
1,350
CAPITAL OUTLAY
70,000
TOTAL EXPENDITURES
158,075
EXCESS OF REVENUES OVER (UNDER)
EXPENDITURES
(28,075)
OTHER FINANCING SOURCES:
DEBT PROCEEDS
45,000
INCREASE IN FUND BALANCE
16,925
FUND BALANCE, JANUARY 1,2015
18,000
FUND BALANCE, DECEMBER 31, 2015
$ 34,925
Chapter 06 - Proprietary Funds
6-22
6-12
TOWN OF THOMASTON
LANDFILL ENTERPRISE FUND
GENERAL JOURNAL
FISCAL YEAR 2015
DEBITS
CREDITS
1.CASH
OPERATING REVENUES-CHARGES FOR SERVICES
2,775,000
2,775,000
2.SUPPLIES: DIESEL FUEL
ACCOUNTS PAYABLE
3.ACCOUNTS PAYABLE
CASH
343,000
430,000
343,000
430,000
4.OPERATING EXPENSES- SUPPLIES EXPENSE
SUPPLIES: DIESEL FUEL
355,000
355,000
5.OPERATING EXPENSES-DEPRECIATION
ACCUMULATED DEPRECIATION OF EQUIPMENT
685,000
685,000
6. OPERATING EXPENSES-WAGES
CASH
165,000
165,000
7. CLOSURE AND POSTCLOSURE CARE EXPENSE
ACCRUED CLOSURE AND POSTCLOSURE CARE
COSTS PAYABLE
$81,250,000/ 25,000,000 = $ 3.25 TON
$ 3.25 * 500,000 = 1,625,000
1,625,000
1,625,000
OPERATING REVENUES-CHARGES FOR SERVICES
NET POSITION
OPERATING EXPENSES-SUPPLIES
OPERATING EXPENSES - WAGES
OPERATING EXPENSES- CLOSURE AND POSTCLOSURE CARE
OPERATING EXPENSES-DEPRECIATION
2,775,000
55,000
355,000
165,000
1,625,000
685,000
Chapter 06 - Proprietary Funds
6-12 - CONTINUED
TOWN OF THOMASTON
LANDFILL ENTERPRISE FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN FUND NET POSITION
FOR THE YEAR ENDED DECEMBER 30, 2015
OPERATING REVENUES:
CHARGES FOR SALES AND SERVICES
OPERATING EXPENSES:
SUPPLIES
WAGES
CLOSURE AND POSTCLOSURE CARE
DEPRECIATION
TOTAL OPERATING EXPENSES
$ 355,000
165,000
1,625,000
685,000
$ 2,775,000
2,830,000
OPERATING INCOME
NONOPERATING REVENUES (EXPENSES):
(55,000)
( 0 )
CHANGE IN NET POSITION
(55,000)
NET POSITION – JANUARY 1, 2015
4,790,000
NET POSITION – DECEMBER 31, 2015
$ 4,735,000
Chapter 06 - Proprietary Funds
6-24
6-13(A) SOLUTIONS TO THE EXCEL BASED EXERCISES ARE ALSO AVAILABLE IN EXCEL ON THE
INSTRUCTOR’S WEBSITE
JEFFERSON COUNTY
INTERNAL SERVICE FUND JOURNAL ENTRIES
DECEMBER 31, 2015
ACCOUNT TITLE
DEBITS
CREDITS
1
SUPPLIES
36,200
ACCOUNTS PAYABLE
36,200
2
DUE FROM OTHER FUNDS
96,250
OPERATING REVENUE: CHARGES FOR SERVICES
96,250
3
OPERATING EXPENSES - COST OF SERVICES
36,700
SUPPLIES
36,700
4
ACCOUNTS PAYABLE
37,350
CASH
37,350
5
CASH
87,000
DUE FROM OTHER FUNDS
87,000
6
OPERATING EXPENSES - COST OF SERVICES
46,500
WAGES PAYABLE
300
CASH
46,800
7
ADVANCE FROM ENTERPRISE FUND
8,000
CASH
8,000
8
CASH
10,000
BANK NOTE PAYABLE
10,000
9
OPERATING EXPENSE - DEPRECIATION
6,900
ACCUMULATED DEPRECIATION
6,900
10
NONOPERATING EXPENSES - INTEREST
600
INTEREST PAYABLE
600
11
OPERATING EXPENSES - COST OF SERVICES
490
WAGES PAYABLE
490
Chapter 06 - Proprietary Funds
6-25
6-13(C)
JEFFERSON COUNTY
INTERNAL SERVICE FUND CLOSING ENTRIES
DECEMBER 31, 2015
ACCOUNT TITLE
DEBITS
CREDITS
OPERATING REVENUE - CHARGES FOR SERVICES
96,250
NET POSITION
5,060
OPERATING EXPENSES - COST OF SERVICES
83,690
OPERATING EXPENSES - DEPRECIATION
6,900
NONOPERATING EXPENSES - INTEREST
600
NET
INVESTMENT IN
CAPITAL ASSETS
RESTRICTED
UNRESTRICTED
TOTAL
NET INVESTMENT IN CAPITAL ASSETS
CAPITAL ASSETS
35,000
35,000
LESS: ACCUMULATED DEPRECIATION
(13,400)
(13,400)
LESS: ADVANCE FROM ENTERPRISE FUND
(17,000)
(17,000)
RESTRICTED
0
-
UNRESTRICTED
26,660
26,660
4,600
-
26,660
31,260
Chapter 06 - Proprietary Funds
6-26
6-13(D)
JEFFERSON COUNTY
STATEMENT OF REVENUES EXPENSES AND CHANGES IN NET POSITION
FOR THE YEAR ENDED 12-31-2015
GOVERNMENTAL
ACTIVITIES: INTERNAL
SERVICE FUND
REVENUES
CHARGES FOR SERVICES
$ 96,250
TOTAL REVENUES
96,250
OPERATING EXPENSES
COST OF SERVICES
83,690
DEPRECIATION
6,900
TOTAL OPERATING
EXPENSES
90,590
OPERATING INCOME (LOSS)
5,660
NONOPERATING INCOME (EXPENSES)
INTEREST EXPENSE
(600)
TOTAL NONOPERATING REVENUE
(600)
CHANGE IN NET POSITION
5,060
NET POSITION- BEGINNING OF YEAR
26,200
NET POSITION - END OF YEAR
$ 31,260
Chapter 06 - Proprietary Funds
6-27
JEFFERSON COUNTY
STATEMENT OF NET POSITION
AS OF 12-31-2015
GOVERNMENTAL
ACTIVITIES:
INTERNAL
SERVICE FUND
ASSETS
CASH
$ 22,850
DUE FROM OTHER FUNDS
15,750
SUPPLIES INVENTORY
3,500
TOTAL CURRENT ASSETS
42,100
CAPITAL ASSETS (NET)
35,000
LESS: ACCUMULATED DEPRECIATION
(13,400)
TOTAL ASSETS
$ 63,700
LIABILITIES AND FUND EQUITY
LIABILITIES
ACCOUNTS PAYABLE
4,350
WAGES PAYABLE
490
INTEREST PAYABLE
600
TOTAL CURRENT LIABILITIES
5,440
BANK NOTE PAYABLE
10,000
ADVANCE FROM ENTERPRISE FUND
17,000
TOTAL LIABILITIES
32,440
NET POSITION
UNRESTRICTED
26,660
NET INVESTMENT IN CAPITAL ASSETS
4,600
TOTAL NET POSITION
$ 31,260
TOTAL LIABILITIES AND NET POSITIONS
$ 63,700
Chapter 06 - Proprietary Funds
6-28
6-13(F)
JEFFERSON COUNTY
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 12-31-2015
GOVERNMENTAL
ACTIVITIES:
INTERNAL
SERVICE FUND
CASH FLOWS FROM OPERATING ACTIVITIES
CASH RECEIVED FROM CUSTOMERS
$ 87,000
CASH PAID TO SUPPLIERS
(37,350)
CASH PAID TO EMPLOYEES
(46,800)
NET CASH PROVIDED BY OPERATING ACTIVITIES
2,850
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
PROCEEDS OF BANK NOTE
10,000
NET CASH PROVIDED BY NONCAPITAL FINANCING ACTIVITIES
10,000
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
ACQUISITION OF CAPITAL ASSETS
PRINCIPAL PAID ON LONG-TERM ADVANCE
(8,000)
INTEREST PAID
NET CASH PROVIDED FROM CAPITAL AND RELATED FINANCING
ACTIVITIES
(8,000)
CASH FLOWS FROM INVESTING ACTIVITIES
NET CASH PROVIDED FROM INVESTING ACTIVITIES
-
INCREASE IN CASH
4,850
CASH AND CASH EQUIVALENTS BEGINNING OF YEAR
18,000
CASH AND CASH EQUIVALENTS END OF YEAR
$ 22,850
RECONCILIATION OF OPERATING INCOME TO NET
CASH PROVIDED BY OPERATING ACTIVITIES
OPERATING INCOME
5,660
DEPRECIATION
6,900
(INCREASE) DECREASE IN RECEIVABLES
(9,250)
(INCREASE) DECREASE IN INVENTORY
500
INCREASE (DECREASE) IN ACCOUNTS PAYABLE
(1,150)
INCREASE (DECREASE) IN WAGES PAYABLE
190
NET CASH PROVIDED BY OPERATING ACTIVITIES
$ 2,850
Chapter 06 - Proprietary Funds
6-29
6-14 (PART 1-A) SOLUTIONS TO THE EXCEL BASED EXERCISES ARE ALSO AVAILABLE IN EXCEL ON
THE INSTRUCTOR’S WEBSITE
RURAL COUNTY
SPECIAL REVENUE FUND JOURNAL ENTRIES
DECEMBER 31, 2015
ACCOUNT TITLE
DEBITS
CREDITS
1
CASH
85,000
FUND BALANCE
85,000
2
ESTIMATED REVENUES
30,000
ESTIMATED OTHER FINANCING SOURCES
55,000
BUDGETARY FUND BALANCE
9,000
APPROPRIATIONS
94,000
3
CASH
85,250
CUSTOMER FEE REVENUES
30,250
OTHER FINANCING SOURCES - LOAN
PROCEEDS
55,000
SUPPLIES
7,300
EXPENDITURES: CURRENT OPERATING
17,400
EXPENDITURES: CAPITAL
63,000
EXPENDITURES: INTEREST
2,200
CASH
89,900
4
NO ACCRUAL OF INTEREST
5
NO DEPRECIATION
6
CUSTOMER FEES RECEIVABLE
2,400
CUSTOMER FEE REVENUES
2,400
7
SUPPLIES
500
ACCOUNTS PAYABLE
500
8
EXPENDITURES: CURRENT OPERATING
7,040
SUPPLIES
7,040
9
EXPENDITURES: CURRENT OPERATING
780
ACCOUNTS PAYABLE
780
10
ENCUMBRANCES
1,500
BUDGETARY FUND BALANCE - RESERVE FOR
ENCUMBRANCES
1,500
Chapter 06 - Proprietary Funds
6-30
6-14 (PART 1-C)
RURAL COUNTY
SPECIAL REVENUE FUND CLOSING ENTRIES
DECEMBER 31, 2015
BUDGETARY
ACCOUNT TITLE
DEBITS
CREDITS
FUND BALANCE
9,000
APPROPRIATIONS
94,000
9,000
BUDGETARY FUND BALANCE
9,000
ESTIMATE OTHER FINANCING SOURCES
55,000
ESTIMATED REVENUES
30,000
-
CUSTOMER FEE REVENUE
32,650
OTHER FINANCING SOURCES - BANK LOAN
55,000
FUND BALANCE
2,770
CURRENT OPERATING EXPENDITURES
25,220
FUND BALANCE
CAPITAL EXPENDITURES
63,000
85,000
EXPENDITURES: INTEREST
2,200
2,770
BUDGETARY FUND BALANCE - RESERVE
FOR ENCUMBRANCES
1,500
ENCUMBRANCES
1,500
82,230
NON-
SPENDABLE
RESTRICTED
ASSIGNED
TOTAL
FUND BALANCE
760
81,470
82,230
Chapter 06 - Proprietary Funds
6-31
6-14 (PART 1-D)
RURAL COUNTY
STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCE
FOR THE YEAR ENDED 12-31-2015
SPECIAL
REVENUE
FUND
REVENUES
CUSTOMER FEES
$ 32,650
TOTAL REVENUES
32,650
EXPENDITURES
CURRENT:
TV TRANSMISSION
CAPITAL OUTLAY
25,220
DEBT SERVICE
63,000
PRINCIPAL
INTEREST
TOTAL EXPENDITURES
2,200
90,420
EXCESS (DEFICIENCY) OF REVENUES OVER
EXPENDITURES
(57,798)
(57,770)
OTHER FINANCING SOURCES (USES)
PROCEEDS OF BANK LOAN
55,000
TOTAL OTHER FINANCING SOURCES (USES)
55,000
NET CHANGE IN FUND BALANCE
(2,770)
FUND BALANCE, JANUARY 1
85,000
FUND BALANCE, DECEMBER 31
82,230
Chapter 06 - Proprietary Funds
6-32
6-14 (PART 1-E)
RURAL COUNTY
BALANCE SHEET
AS OF 12-31-2015
SPECIAL REVENUE
FUND
ASSETS
CASH
$ 80,350
CUSTOMER FEES RECEIVABLE
2,400
SUPPLIES INVENTORY
760
CAPITAL ASSETS (NET)
TOTAL ASSETS
$ 83,510
LIABILITIES AND FUND EQUITY
LIABILITIES
ACCOUNTS PAYABLE
1,280
INTEREST PAYABLE
BANK NOTE PAYABLE
TOTAL LIABILITIES
1,280
FUND BALANCES
NONSPENDABLE: SUPPLIES
760
ASSIGNED FOR:
TV RECEPTION IMPROVEMENT
81,470
TOTAL FUND EQUITY
82,230
TOTAL LIABILITIES AND FUND
EQUITY
$ 83,510
Chapter 06 - Proprietary Funds
6-33
6-14 (PART 2-A)
RURAL COUNTY
ENTERPRISE FUND JOURNAL ENTRIES
DECEMBER 31, 2015
ACCOUNT TITLE
DEBITS
CREDITS
1
CASH
85,000
LAND
40,000
NET POSITION
125,000
2
NO JOURNAL ENTRY
3
CASH
85,250
CUSTOMER FEE REVENUES
30,250
BANK NOTE PAYABLE
55,000
SUPPLIES
7,300
EXPENSES: CURRENT OPERATING
17,400
CAPITAL ASSETS
63,000
EXPENSES: INTEREST
2,200
CASH
89,900
4
EXPENSES: INTEREST
1,100
INTEREST PAYABLE
1,100
5
EXPENSES: CURRENT OPERATING
4,725
ACCUMULATED DEPRECIATION
4,725
63000/10 *9/12
6
CUSTOMER FEES RECEIVABLE
2,400
CUSTOMER FEE REVENUES
2,400
7
SUPPLIES
500
ACCOUNTS PAYABLE
500
8
EXPENSES: CURRENT OPERATING
7,040
SUPPLIES
7,040
9
EXPENSES: CURRENT OPERATING
780
ACCOUNTS PAYABLE
780
10
NO JOURNAL ENTRY
Chapter 06 - Proprietary Funds
6-14 (PART 2-C)
RURAL COUNTY
ENTERPRISE FUND CLOSING ENTRIES
DECEMBER 31, 2015
ACCOUNT TITLE
DEBITS
CREDITS
CUSTOMER FEE REVENUE
32,650
NET POSITION
595
CURRENT OPERATING EXPENSES
29,945
INTEREST EXPENSE
3,300
Chapter 06 - Proprietary Funds
6-35
6-14 (PART 2-D)
RURAL COUNTY
STATEMENT OF REVENUES EXPENSES AND CHANGES IN NET POSITION
FOR THE YEAR ENDED 12-31-2015
TELEVISION
RECEPTION
IMPROVEMENT
REVENUES
CHARGES FOR SERVICES
$ 32,650
TOTAL REVENUES
32,650
OPERATING EXPENSES
CURRENT OPERATIONS
29,945
CAPITAL
TOTAL OPERATING EXPENSES
29,945
OPERATING INCOME (LOSS)
2,705
NONOPERATING INCOME (EXPENSES)
INTEREST EXPENSE
(3,300)
TOTAL NONOPERATING REVENUE
(3,300)
CHANGE IN NET POSITION
(595)
NET POSITION- BEGINNING OF YEAR
125,000
NET POSITION - END OF YEAR
$ 124,405
Chapter 06 - Proprietary Funds
6-36
6-14 (PART 2-E)
RURAL COUNTY
STATEMENT OF NET POSITION
AS OF 12-31-2015
TELEVISION
RECEPTION
IMPROVEMENT
ASSETS
CASH
$ 80,350
CUSTOMER FEES RECEIVABLE
2,400
SUPPLIES INVENTORY
760
TOTAL CURRENT ASSETS
83,510
CAPITAL ASSETS
103,000
LESS ACCUMULATED DEPRECIATION
(4,725)
TOTAL ASSETS
$ 181,785
LIABILITIES AND FUND EQUITY
LIABILITIES
ACCOUNTS PAYABLE
1,280
INTEREST PAYABLE
1,100
TOTAL CURRENT LIABILITIES
2,380
BANK NOTE PAYABLE
55,000
TOTAL LIABILITIES
57,380
NET POSITION
UNRESTRICTED
81,130
NET INVESTMENT IN CAPITAL ASSETS
43,275
TOTAL NET POSITION
$ 124,405
TOTAL LIABILITIES AND NET POSITION
$ 181,785
