CITY OF MONROE
WORKSHEET TO CONVERT GOVERNMENTAL ACTIVITIES TO ACCRUAL BASIS
Refr.
Account Titles Debits Credits
Gov’tal
Fund
Balances
Adjustments & Eliminations
Govern-
mental
Funds
Adjusted
Internal Service Funds
Balances for
Gov’t-wide
Stmts
Debits Credits Debits Credits
ACapital Assets 65,900,000
DEBITS:
Accumulated Depreciation 29,800,000 Cash 830,320 830,320 M47,300 877,620
Net Position 36,100,000 Cash with Fiscal Agent 928,000 928,000 928,000
Investments 259,000 259,000 259,000
BCapital Assets 5,798,100
Taxes Receivable, net 274,000 274,000 274,000
Expenditures-Capital Outlay 5,798,100 Interest Receivable, net 16,850 16,850 16,850
Inventories – M34,040 34,040
CDepreciation Expense 5,750,000
Due from State Govt. 580,000 580,000 580,000
Accumulated Depreciation- 5,750,000 Due from Other Funds – M11,200 3,200 N8,000
Capital Assets A65,900,000 71,698,100 M148,000 71,846,100
DProceeds of Bonds 4,000,000
both rows B5,798,100
Other Financing Sources-Premium on Bonds 200,000 – –
Bonds Payable 4,000,000 Expenditures (expenses) Current –
Premium on Bonds 200,000
General Govt. 1,646,900 1,646,900 940 O1,645,960
Public Safety 3,026,900 3,026,900 3,026,900
ENet Position 12,000,000
Highway and Streets 2,471,900 2,471,900 2,471,900
Bonds Payable 12,000,000 Sanitation 591,400 591,400 591,400
Health 724,100 724,100 724,100
FBonds Payable 800,000
Welfare 374,300 374,300 374,300
Expenditures-Debt Service-Bond Principal 800,000 Culture and Recreation 917,300 917,300 917,300
Compensated Absences Exp L39,500 39,500 39,500
GInterest Expense 328,000
Other Expenditures (expenses) – –
Accrued Interest Payable 328,000 – Debt Service Principal 800,000 800,000 F– –
– Interest (expenditure/expense) 514,000 G328,000 180,000 H652,000 652,000
HNet Position 180,000
both rows 10,000 I
Interest Expense 180,000 – Capital Outlay 5,798,100 5,798,100 B– –
– Depreciation C5,750,000 5,750,000 5,750,000
IPremium on Bonds Sold 10,000
Other Fin. Uses – Transfers Out 1,876,700 1,876,700 1,876,700 P–
Interest Expense 10,000 –
Total Debits 21,629,770 91,016,970
Enter all amounts as positive numbers. The worksheet is formatted to
add debits to assets & expenses and add credits to revenues, liabilities
& equity
CITY OF MONROE
WORKSHEET TO CONVERT GOVERNMENTAL ACTIVITIES TO ACCRUAL BASIS
Refr.
Account Titles Debits Credits
Gov’tal
Fund
Balances
Adjustments & Eliminations
Govern-
mental
Funds
Adjusted
Internal Service Funds
Balances for
Gov’t-wide
Stmts
Debits Credits Debits Credits
JDeferred Inflows: Property Taxes 27,500
CREDITS:
Revenues-Property Taxes 27,500 Accounts Payable 493,400 493,400 24,500 M517,900
Due to Other Funds 40,200 40,200 N3,200 37,000
KRevenus-Property Taxes 21,000
Accrued Interest Payable 328,000 G328,000 328,000
Net Position 21,000 Bonds Payalbe 12,000,000 E
both rows F800,000 4,000,000 D15,200,000 15,200,000
LCompensated Absences Expense 39,500
Premium on Bonds I10,000 200,000 D190,000 190,000
Compensated Absences Payable 39,500 Compensated Absence Payable 39,500 L39,500 39,500
Advance from Water Utility Fund – 15,000 M15,000
MCash 47,300
Deferred Inflows: Property Taxes 27,500 J27,500 – –
Due From Other Funds 11,200 Accumulated Depreciation 29,800,000 A73,600 M
Inventories 34,040 both rows 5,750,000 C35,550,000 35,623,600
Capital Assets 148,000 Revenues –
Accumulated Depreciation 73,600
Property Taxes 6,657,500 K21,000 27,500 J6,664,000 6,664,000
Accounts Payable 24,500 Sales Taxes 2,942,000 2,942,000 2,942,000
Advance From Water Utility Fund 15,000 Interest 21,220 21,220 21,220
Net Position 127,440 Licenses & Permits 800,000 800,000 800,000
Miscellaneous 350,000 350,000 350,000
NDue to Other Funds 3,200
1,072,000 1,072,000 1,072,000
Due From Other Funds 3,200 Capital Grant- Gen Gov’t 332,000 332,000 332,000
Capital Grant- Public Safety 1,320,000 1,320,000 1,320,000
ONet Position 940 –
–
Expenditures-Current-General Government 940 – –
Other Financing Sources – –
PTransfers In 1,876,700
Proceeds of Bonds 4,000,000 D4,000,000 – –
Transfers Out 1,876,700 Premium on Bonds 200,000 D200,000 – –
Transfers In 1,876,700 1,876,700 P1,876,700 –
Net Position at beginning of year –
three rows H180,000 21,000 K
debits = credits ??? 97,175,480 97,175,480 1,497,250 E12,000,000 36,100,000 A25,438,250 O940 127,440 M25,564,750
Total Credits 21,629,770 91,016,970
CITY OF MONROE
WORKSHEET TO CONVERT GOVERNMENTAL ACTIVITIES TO ACCRUAL BASIS
Refr.
Account Titles Debits Credits
Gov’tal
Fund
Balances
Adjustments & Eliminations
Govern-
mental
Funds
Adjusted
Internal Service Funds
Balances for
Gov’t-wide
Stmts
Debits Credits Debits Credits
column totals: debits = credits ?? – 95,054,100 95,054,100 2,121,380 2,121,380 –
CITY OF MONROE
Statement of Activities
For the year ended December 31, 2015
Program Revenues Net (Expense) Revenue and Change in Net Position
Expenses
Charges for
Services
Operational
Grants and
Contributions
Capital
Grants and
Contributions
Governmental
Activities
Business-Type
Activities
Total
Functions/Programs
Governmental Activities:
General Government 1,645,960$ 332,000$ (1,313,960)$ (1,313,960)$
Public Safety 3,026,900 1,320,000 (1,706,900) (1,706,900)
Highways and Streets 2,471,900 1,072,000 (1,399,900) (1,399,900)
Sanitation 591,400 (591,400) (591,400)
Health 724,100 (724,100) (724,100)
Welfare 374,300 (374,300) (374,300)
Culture and Recreation 917,300 (917,300) (917,300)
Depreciaiton 5,750,000 (5,750,000) (5,750,000)
Interest 652,000 (652,000) (652,000)
Compensated Absneces 39,500 (39,500) (39,500)
Total Governmental Activities 16,193,360 – 1,404,000 1,320,000 (13,469,360) (13,469,360)
Business Type Activities
Water and Sewer 1,019,500 1,033,500 14,000 14,000
Total Government 17,212,860$ 1,033,500$ 1,404,000$ 1,320,000$ (13,469,360)$ 14,000$ (13,455,360)
General Revenues
Property Taxes 6,664,000 6,664,000
Sales Taxes 2,942,000 2,942,000
Interest 21,220 21,220
licenses and Permits 800,000 800,000
Miscellaneous 350,000 350,000
Total General Revenues 10,777,220 – 10,777,220
Change in Net Position (2,692,140) 14,000 (2,678,140)
Net Position, Beginning 25,564,750 959,000 26,523,750
Net Position, Ending 22,872,610$ 973,000$ 23,845,610$
CITY OF MONROE
Statement of Net Position
As of December 31, 2015
Governmental
Activities
Business-Type
Activities
Total
Assets
Cash 877,620$ 99,500$ 977,120$
Cash with Fiscal Agents 928,000 928,000
Investments 259,000 259,000
Accounts Receivable (Net) 107,500 107,500
Taxes Receivable (Net) 274,000 274,000
Interest Receivable 16,850 16,850
Internal Balances Current (29,000) 29,000 – Net the amounts: due from and (due to) other funds
Due from Other Governments 580,000 580,000
Inventories 34,040 95,100 129,140
Internal Balances Long-Term (15,000) 15,000 –
Restricted Assets 142,000 142,000
Capital Assets, Net of Accumulated Depreciation 36,222,500 3,044,300 39,266,800
Total Assets 39,148,010$ 3,532,400$ 42,680,410$
Liabilities
Accounts Payable 517,900 56,100 574,000
Payroll Taxes Payable 3,300 3,300
Accrued Interest Payable 328,000 328,000
Revenue Bonds Payable 2,500,000 2,500,000
General Obligation Bonds Payable 15,200,000 15,200,000
Premium on Bonds Sold 190,000 190,000
Compensated Absences Payable 39,500 39,500
Total Liabilities 16,275,400 2,559,400 18,834,800
Net Position
Net Investment in Capital Assets 20,817,500 544,300 21,361,800
Total Net Position 22,872,610$ 973,000$ 23,845,610$
City of Monroe
Reconciliation of fund basis to government-wide statements
CITY OF MONROE
Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position
As of December 31, 2015
Fund balances reported in governmental funds Balance Sheet 2,327,070$
Amounts reported for governmental activities in the
Statement of Net Position are different because:
Capital assets used in governmental activities are not financial
resources and therefore not reported in the funds. Amount
does not include capital assets of internal service funds
(reported in following row).
36,148,100
The assets and liabilities of internal service funds are
included in governmental funds in the Statement of Net
Position.
127,440
Deferred revenue for property taxes reported in the funds but
accrued as revenue in the government-wide statements and
added to Net Position.
27,500
Accrued interest payable is reported as a liability in the
Statement of Activities; interest is not accrued in the
governmental funds.
(328,000)
Bonds payable, not due and payable in the current period are
not reported in the funds.
(15,390,000)
Compensated absences, not due and payable in the current
period are not reported in the funds.
(39,500)
Net Position of Governmental Activities 22,872,610$ –
City of Monroe
Reconciliation of fund basis to government-wide statements
CITY OF MONROE
Reconciliation of the Statement of Revenues, Expenditures and Changes
in Fund Balance to the Statement of Activities
For the year ended December 31, 2015
Net change in fund balances – Governmental funds 829,820$
Amounts reported for governmental activities in the
Statement of Activities are different because:
Governmental funds report capital outlays as expenditures
rather than assets
5,798,100
Governmental funds do not report depreciation expense (5,750,000)
The net revenue of internal service funds is not reported with
the governmental funds
940
Property taxes due more than 60 days after year end is not
accrued in the governmental funds.
6,500
Bond proceeds are reported as other financing sources in the
governmental funds but as liabilities in the government-wide
statements.
(4,200,000)
Repayment of bonds is reported as an expenditure in the
governmental funds
800,000
Interest is not accrued at year end in the governmental funds. (138,000)
Increases in compensated absences, not due and payable in
the current period are not reported in the funds.
(39,500)
Change in Net Position of Governmental Activities (2,692,140)$