Chapter 07 – Fiduciary Funds
7-13 (C). CITY OF SWEETWATER
EMPLOYEES’ RETIREMENT FUND
STATEMENT OF FIDUCIARY NET POSITION
AS OF JUNE 30, 2015
ASSETS:
CASH
ACCRUED INTEREST RECEIVABLE
INVESTMENTS, AT FAIR VALUE:
BONDS
STOCKS
TOTAL ASSETS
$ 132,000
60,000
4,535,000
1,540,000
6,267,000
LIABILITIES:
ACCOUNTS PAYABLE AND ACCRUED EXPENSES
300,000
FIDUCIARY NET POSITION RESTRICTED FOR PENSION BENEFITS
$5,967,000
Chapter 07 – Fiduciary Funds
7-14 (1).
ALGER COUNTY SCHOOL DISTRICT
EMPLOYEE HEALTH BENEFIT PLAN
GENERAL LEDGER
DEBITS
CREDITS
ADDITIONS-CONTRIBUTIONS – EMPLOYER
ADDITIONS-CONTRIBUTIONS – EMPLOYEE
ADDITIONS-INVESTMENT EARNINGS-INTEREST
ADDITIONS-INVESTMENT EARNINGS-DIVIDENDS
ADDITIONS-INVESTMENT EARNINGS-NET
INCREASE IN FAIR VALUE OF INVESTMENTS
DEDUCTIONS-ADMINISTRATIVE EXPENSES
DEDUCTIONS-BENEFITS PAID TO RETIREES
FIDUCIARY NET POSITION: RESTRICTED FOR
EMPLOYEE POSTEMPLOYMENT
HEALTHCARE
659,000
355,000
127,300
75,000
328,000
22,300
525,000
997,000
7-14 (2). ALGER COUNTY SCHOOL DISTRICT
EMPLOYEE HEALTH BENEFIT PLAN
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
FOR THE YEAR ENDED JUNE 30, 2015
ADDITIONS:
CONTRIBUTIONS:
EMPLOYEE
EMPLOYEE
TOTAL CONTRIBUTIONS
$ 659,000
355,000
1,014,000
INVESTMENT INCOME:
INTEREST
DIVIDENDS
NET INCREASE IN FAIR VALUE OF INVESTMENTS
TOTAL INVESTMENT INCOME
TOTAL ADDITIONS
530,300
1,544,300
DEDUCTIONS:
HEALTHCARE BENEFITS
ADMINISTRATIVE EXPENSE
TOTAL DEDUCTIONS
547,300
NET INCREASE
997,000
FIDUCIARY NET POSITION RESTRICTED FOR EMPLOYEE
POSTEMPLOYMENT HEALTHCARE:
Chapter 07 – Fiduciary Funds
7-14 (3).
ALGER COUNTY SCHOOL DISTRICT
EMPLOYEE HEALTH BENEFIT PLAN
STATEMENT OF FIDUCIARY NET POSITION
AS OF JUNE 30, 2015
ASSETS:
CASH
RECEIVABLES:
EMPLOYER
EMPLOYEES
ACCRUED INTEREST
TOTAL RECEIVABLES
INVESTMENTS, AT FAIR VALUE:
US SECURITIES
BONDS
STOCKS
TOTAL INVESTMENTS
TOTAL ASSETS
190,000
88,000
10,200
650,000
1,227,000
2,272,000
$ 15,500
288,200
4,149,000
$ 4,452,700
LIABILITIES:
ACCOUNTS PAYABLE AND ACCRUED EXPENSES
1,500
FIDUCIARY NET POSITION RESTRICTED FOR EMPLOYEE
POSTEMPLOYMENT HEALTHCARE:
$4,451,200
Chapter 07 – Fiduciary Funds
7-18
7-15(A) SOLUTIONS TO THE EXCEL BASED EXERCISES ARE ALSO AVAILABLE IN EXCEL ON
THE INSTRUCTOR’S WEBSITE
HAMILTON COUNTY
OPEB TRUST FUND
31-DEC-2015
ACCOUNT TITLE
DEBITS
CREDITS
1
CASH
9,000,000
ADDITIONS – EMPLOYER CONTRIBUTIONS
9,000,000
2
CASH
4,020,000
CONTRIBUTIONS RECEIVABLE
180,000
ADDITIONS – MEMBER CONTRIBUTIONS
4,200,000
3
INVESTMENTS IN US GOV‘T SECURITIES
20,000,000
CASH
20,000,000
4
INTEREST RECEIVABLE
7,000
CASH
1,431,000
ADDITIONS – INTEREST INCOME
1,438,000
5
CASH
426,000
ADDITIONS – MEDICARE DRUG SUBSIDY
426,000
6
DEDUCTIONS – EMPLOYEE BENEFITS
10,903,000
CASH
9,575,000
ACCOUNTS PAYABLE
1,328,000
7
DEDUCTIONS – ADMINISTRATIVE EXPENSES
132,000
CASH
132,000
HAMILTON COUNTY
DOMESTIC RELATIONS AGENCY FUND
31-DEC-2015
ACCOUNT TITLE
DEBITS
CREDITS
8
CASH
390,000
DUE TO STATE GOVERNMENT
390,000
9
DUE TO STATE GOVERNMENT
414,700
CASH
414,700
Chapter 07 – Fiduciary Funds
7-19
7-15 (C)
HAMILTON COUNTY
OPEB TRUST FUND CLOSING ENTRIES
DECEMBER 31,2015
ACCOUNT TITLE
DEBITS
CREDITS
ADDITIONS:
EMPLOYER CONTRIBUTIONS
9,000,000
MEMBER CONTRIBUTIONS
4,200,000
INTEREST INCOME
1,438,000
MEDICARE SUBSIDY
426,000
DEDUCTIONS:
EMPLOYEE BENEFITS
10,903,000
ADMIN EXPENSES
132,000
NET POSITION: HELD IN TRUST FOR OPEB BENEFITS
4,029,000
HAMILTON COUNTY
AGENCY FUND CLOSING ENTRIES
DECEMBER 310,2015
ACCOUNT TITLE
DEBITS
CREDITS
NONE – AGENCY FUNDS DO NOT HAVE CLOSING ENTRIES
Chapter 07 – Fiduciary Funds
7-20
7-15 (D)
HAMILTON COUNTY
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
FOR THE YEAR ENDED DECEMBER 31, 2015
OPEB TRUST
FUND
ADDITIONS
CONTRIBUTIONS:
EMPLOYER CONTRIBUTIONS
$ 9,000,000
MEMBER CONTRIBUTIONS
4,200,000
TOTAL CONTRIBUTIONS
13,200,000
OTHER ADDITIONS:
MEDICARE SUBSIDY
426,000
INTEREST INCOME
1,438,000
TOTAL ADDITIONS
15,064,000
DEDUCTIONS
EMPLOYEE BENEFITS
10,903,000
ADMINISTRATIVE EXPENSES
132,000
TOTAL DEDUCTIONS
11,035,000
CHANGE IN FIDUCIARY NET POSITION
4,029,000
FIDUCIARY NET POSITION BEGINNING OF YEAR
16,000,000
FIDUCIARY NET POSITION END OF YEAR
$ 20,029,000
Chapter 07 – Fiduciary Funds
7-21
7-15 (E)
HAMILTON COUNTY
STATEMENT OF FIDUCIARY NET POSITION
DECEMBER 31, 2015
OPEB
TRUST FUND
DOMESTIC
RELATIONS
AGENCY FUND
TOTAL
FIDUCIARY
FUNDS
ASSETS
CASH
$ 1,170,000
$ 31,200
$ 1,201,200
INVESTMENT IN US SECURITIES
20,000,000
20,000,000
CONTRIBUTIONS RECEIVABLE
180,000
180,000
ACCRUED INTEREST RECEIVABLE
7,000
7,000
TOTAL ASSETS
$ 21,357,000
$ 31,200
$ 21,388,200
LIABILITIES
ACCOUNTS PAYABLE
1,328,000
1,328,000
DUE TO STATE GOVERNMENT
31,200
31,200
TOTAL LIABILITIES
1,328,000
31,200
1,359,200
FIDUCIARY NET POSITION
RESTRICTED FOR EMPLOYEE POST–
EMPLOYMENT BENEFITS
20,029,000
20,029,000
TOTAL NET POSITION
$ 20,029,000
$ –
$ 20,029,000
Chapter 07 – Fiduciary Funds
7-22
7-16 PART 1 (A) SOLUTIONS TO THE EXCEL BASED EXERCISES ARE ALSO AVAILABLE IN EXCEL ON
THE INSTRUCTOR’S WEBSITE
MOOSE COUNTY
PERMANENT FUND JOURNAL ENTRIES
DECEMBER 31, 2015
ACCOUNT TITLE
DEBITS
CREDITS
1
INVESTMENTS – CORPORATE EQUITIES
2,700,000
INVESTMENTS – CORPORATE BONDS
3,000,000
ACCRUED INTEREST RECEIVABLE
12,000
REVENUES – ADDITIONS TO PERMANENT ENDOWMENTS
5,712,000
2
CASH
180,000
ACCRUED INTEREST RECEIVABLE
12,000
REVENUES – INVESTMENT INCOME – INTEREST
168,000
ACCRUED INTEREST RECEIVABLE
45,000
REVENUES – INVESTMENT INCOME – INTEREST
45,000
3
CASH
168,000
REVENUES – INVESTMENT INCOME –DIVIDENDS
168,000
4
EXPENDITURES – TRUST ACTIVITIES
333,700
CASH
320,000
ACCOUNTS PAYABLE
13,700
5
INVESTMENTS – CORPORATE BONDS
190,000
INVESTMENTS – CORPORATE
EQUITIES
150,000
REVENUES – NET INCREASE IN FAIR VALUE OF
INVESTMENTS
40,000
7-16 PART 1 (C)
MOOSE COUNTY
PERMANENT FUND CLOSING ENTRIES
DECEMBER 31, 2015
ACCOUNT TITLE
DEBITS
CREDITS
REVENUES – ADDITIONS TO PERMANENT ENDOWMENTS
5,712,000
REVENUES – INVESTMENT INCOME – INTEREST
213,000
REVENUES – INVESTMENT INCOME – DIVIDENDS
168,000
REVENUES – NET INCREASE IN FAIR VALUE OF INVESTMENTS
40,000
EXPENDITURES – TRUST ACTIVITIES
333,700
FUND BALANCE
5,799,300
Chapter 07 – Fiduciary Funds
7-23
7-16 PART 1 (D)
MOOSE COUNTY
STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCE
FOR THE YEAR ENDED 12-31-2015
PERMANENT FUND
REVENUES
ADDITIONS TO PERMANENT ENDOWMENT
$ 5,712,000
INVESTMENT INCOME:
INTEREST
213,000
DIVIDENDS
168,000
INCREASE IN FAIR VALUE OF INVESTMENTS
40,000
TOTAL REVENUES
6,133,000
EXPENDITURES
CURRENT:
TRUST ACTIVITIES
333,700
TOTAL EXPENDITURES
333,700
EXCESS (DEFICIENCY) OF REVENUES OVER
EXPENDITURES
5,799,300
OTHER FINANCING SOURCES (USES)
TRANSFERS OUT
TOTAL OTHER FINANCING SOURCES (USES)
–
NET CHANGE IN FUND BALANCE
5,799,300
FUND BALANCE, JANUARY 1
–
FUND BALANCE, DECEMBER 31
$ 5,799,300
Chapter 07 – Fiduciary Funds
7-24
7-16 PART 1 (E)
MOOSE COUNTY
BALANCE SHEET
AS OF 12-31-2015
PERMANENT
FUND
ASSETS
CASH
$ 28,000
INVESTMENTS IN CORPORATE EQUITIES
2,550,000
INVESTMENTS IN CORPORATE BONDS
3,190,000
ACCRUED INTEREST RECEIVABLE
45,000
TOTAL ASSETS
$ 5,813,000
LIABILITIES AND FUND BALANCES
LIABILITIES
ACCOUNTS PAYABLE
13,700
TOTAL LIABILITIES
13,700
FUND BALANCES
NONSPENDABLE:
PERMANENT FUND PRINCIPAL
5,712,000
RESTRICTED FOR OTHER PURPOSES
87,300
TOTAL FUND BALANCE
5,799,300
TOTAL LIABILITIES AND FUND BALANCE
$ 5,813,000
Chapter 07 – Fiduciary Funds
7-25
7-16 PART 2 (A)
MOOSE COUNTY
PRIVATE PURPOSE TRUST FUND ENTRIES
DECEMBER 31, 2015
ACCOUNT TITLE
DEBITS
CREDITS
1
INVESTMENTS – CORPORATE EQUITIES
2,700,000
INVESTMENTS – CORPORATE BONDS
3,000,000
ACCRUED INTEREST RECEIVABLE
12,000
ADDITIONS – CONTRIBUTIONS FROM CITIZENS
5,712,000
2
CASH
180,000
ACCRUED INTEREST RECEIVABLE
12,000
ADDITIONS – INVESTMENT INCOME – INTEREST
168,000
ACCRUED INTEREST RECEIVABLE
45,000
ADDITIONS – INVESTMENT INCOME – INTEREST
45,000
3
CASH
168,000
ADDITIONS – INVESTMENT INCOME –DIVIDENDS
168,000
4
DEDUCTIONS – EXPENSES FOR TRUST ACTIVITIES
333,700
CASH
320,000
ACCOUNTS PAYABLE
13,700
5
INVESTMENTS – CORPORATE BONDS
190,000
INVESTMENTS – CORPORATE EQUITIES
150,000
ADDITIONS – NET INCREASE IN FAIR VALUE OF INVESTMENTS
40,000
7-16 PART 2 (C)
MOOSE COUNTY
PRIVATE PURPOSE TRUST FUND CLOSING ENTRIES
DECEMBER 31, 2015
ACCOUNT TITLE
DEBITS
CREDITS
ADDITIONS – CONTRIBUTIONS FROM CITIZENS
5,712,000
ADDITIONS – INVESTMENT INCOME – INTEREST
213,000
ADDITIONS – INVESTMENT INCOME –DIVIDENDS
168,000
ADDITIONS – NET INCREASE IN FAIR VALUE OF INVESTMENTS
40,000
DEDUCTIONS – EXPENSES FOR TRUST ACTIVITIES
333,700
FIDUCIARY NET POSITION: RESOURCES HELD IN TRUST
5,799,300
Chapter 07 – Fiduciary Funds
7-26
7-16 PART 2 (D)
MOOSE COUNTY
STATEMENT OF RCHANGES IN FIDUCIARY NET POSITION
FOR THE YEAR ENDED 12-31-2015
PRIVATE
PURPOSE
TRUST FUND
ADDITIONS
CONTRIBUTIONS:
$ 5,712,000
INVESTMENT INCOME:
INTEREST
213,000
DIVIDENDS
168,000
INCREASE IN FAIR VALUE OF INVESTMENTS
40,000
TOTAL ADDITIONS
6,133,000
DEDUCTIONS
TRUST ACTIVITIES
333,700
–
TOTAL DEDUCTIONS
333,700
CHANGE IN FIDUCIARY NET POSITION
5,799,300
FIDUCIARY NET POSITION BEGINNING OF YEAR
–
FIDUCIARY NET POSITION END OF YEAR
$ 5,799,300
Chapter 07 – Fiduciary Funds
7-27
7-16 PART 2 (E)
MOOSE COUNTY
STATEMENT OF NET POSITION
AS OF 12-31-2015
PRIVATE
PURPOSE TRUST
FUND
ASSETS
CASH
$ 28,000
INVESTMENTS IN CORPORATE EQUITIES
2,550,000
INVESTMENTS IN CORPORATE BONDS
3,190,000
ACCRUED INTEREST RECEIVABLE
45,000
TOTAL ASSETS
$ 5,813,000
LIABILITIES AND FUND EQUITY
LIABILITIES
ACCOUNTS PAYABLE
13,700
TOTAL LIABILITIES
13,700
FIDUCIARY NET POSITION
RESOURCES HELD IN TRUST FOR PRIVATE PURPOSE
TRUST FUND ACTIVITIES
5,799,300
TOTAL NET POSITION
$ 5,799,300