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Chapter 8 Government-Wide Statements, Capital Assets, Long-Term Debt
8-1
CHAPTER 8:
Government-Wide Statements, Capital Assets, Long-Term Debt
8-1. THE SOLUTION TO THIS AND THE FIRST EXERCISE OF CHAPTERS 1 THROUGH 8 WILL DIFFER
FROM STUDENT TO STUDENT ASSUMING EACH HAS A DIFFERENT CAFR.
8-2. THE MOST COMMON NONEXCHANGE TRANSACTION THAT RESULTS IN A DIFFERENCE
BETWEEN ACCRUAL AND MODIFIED ACCRUAL ACCOUNTING IS PROPERTY TAX REVENUE.
PROPERTY TAXES EXPECTED TO BE COLLECTED MORE THAN 60 DAYS AFTER YEAR END ARE
8-3. INTERNAL SERVICE FUNDS MOST COMMONLY PROVIDE GOODS AND SERVICES TO
GOVERNMENT DEPARTMENTS CLASSIFIED WITHIN GOVERNMENTAL ACTIVITIES. THESE
DEPARTMENTS ARE TYPICALLY REPORTED IN THE GENERAL FUND. FOR THIS REASON, THE
8-4.
A. INFRASTRUCTURE, ACCORDING TO GASB STATEMENT 34, REPRESENTS “LONG-LIVED
CAPITAL ASSETS THAT NORMALLY ARE STATIONARY IN NATURE AND NORMALLY CAN BE
PRESERVED FOR A SIGNIFICANTLY GREATER NUMBER OF YEARS THAN MOST CAPITAL
Chapter 8 Government-Wide Statements, Capital Assets, Long-Term Debt
8-2
8-4 (CONTINUED)
C. TO USE THE MODIFIED APPROACH, TWO CONDITIONS MUST EXIST.
(3) ESTIMATES EACH YEAR THE ANNUAL AMOUNT TO MAINTAIN AND PRESERVE
THOSE ASSETS AT THE CONDITION LEVEL ESTABLISHED AND DISCLOSED BY THE
GOVERNMENT.
8-5.
1. GOVERNMENTAL FUND STATEMENTS ARE TO BE PREPARED USING THE CURRENT
FINANCIAL RESOURCES MASUREMENT FOCUS AND MODIFIED ACCRUAL BASIS OF
2. A. DISCRETELY PRESENTED COMPONENT UNITS ARE INCLUDED IN THE GOVERNMENT-WIDE
BUT NOT THE FUND FINANCIAL STATEMENTS.
B. FIDUCIARY FUNDS ARE INCLUDED IN THE FUND FINANCIAL STATEMENTS; STATEMENTS
3. A. THE CATEGORY, NET INVESTMENT IN CAPITAL ASSETS, INCLUDES ALL CAPITAL ASSETS,
LESS DEPRECIATION LESS DEBT ASSOCIATED WITH THE ACQUISITION OF CAPITAL ASSETS.
Chapter 8 Government-Wide Statements, Capital Assets, Long-Term Debt
8-3
8-5 (CONTINUED).
C. UNRESTRICTED NET POSITION REPRESENT THOSE NET RESOURCES NOT REPRESENTED IN
8-6. SOME OF THE ITEMS THAT WILL NEED ADJUSTING, WHEN MOVING FROM FUND FINANCIAL
STATEMENTS TO GOVERNMENT-WIDE FINANCIAL STATEMENTS, INCLUDE:
A. CAPITAL ASSET RELATED ENTRIES:
1) RECORDING THE BEGINNING BALANCE OF GENERAL FIXED ASSETS AND RELATED
ACCUMULATED DEPRECIATION ACCOUNTS.
B. LONG-TERM DEBT RELATED ENTRIES:
1) RECORD THE BEGINNING BALANCES OF GENERAL LONG-TERM DEBT.
C. MAKING ADJUSTMENTS FOR REVENUE ACCRUALS, TO MEET THE PRIVISIONS OF GASB
STATEMENT 33.
D. MAKING ADJUSTMENTS FOR EXPENSE ACCRUALS; FOR EXAMPLE, COMPENSATED
ABSENCES.
E. INTERNAL SERVICE FUND ENTRIES
F. ELIMINATE ANY TRANSFERS AND OTHER INTERFUND BALANCES THAT ARE WITHIN
GOVERNMENTAL ACTIVITIES.
Chapter 8 Government-Wide Statements, Capital Assets, Long-Term Debt
8-4
8-7. CITY OF SOUTHERN SPRINGS
STATEMENT OF NET POSITION
APRIL 30, 2015
GOVERNMENTAL
ACTIVITIES
BUSINESS-TYPE
ACTIVITIES
TOTAL
ASSETS:
CASH AND CASH EQUIVALENTS
RECEIVABLES
INVENTORIES
CAPITAL ASSETS, NET
TOTAL ASSETS
$1,380,000
450,000
12,500,000
14,330,000
$ 850,000
1,330,000
520,000
7,050,000
9,750,000
$2,230,000
1,780,000
520,000
19,550,000
24,080,000
LIABILITIES:
ACCOUNTS PAYABLE
COMPENSATED ABSENCES PAYABLE
BONDS PAYABLE
TOTAL LIABILITIES
650,000
359,000
7,800,000
8,809,000
559,000
3,210,000
3,769,000
1,209,000
359,000
11,010,000
12,578,000
NET POSITION:
NET INVESTMENT IN CAPITAL ASSETS
RESTRICTED FOR DEBT SERVICE
UNRESTRICTED
TOTAL NET POSITION
4,700,000
554,000
267,000
$5,521,000
3,840,000
190,000
1,951,000
$ 5,981,000
8,540,000
744,000
2,218,000
$11,502,000
Governmental Activities
Net investment
in capital assets
Restricted
Unrestricted
Total
Net investment in capital assets:
Capital Assets (net)
$ 12,500,000
$ 12,500,000
Less General Obligation Bonds
(7,800,000)
(7,800,000)
Restricted Net position:
554,000
554,000
Unrestricted (plug)
267,000
267,000
Total Net position
$ 4,700,000
554,000
267,000
5,521,000
Business-type Activities
Net investment
in capital assets
Restricted
Unrestricted
Total
Net investment in capital assets:
Capital Assets (net)
$ 7,050,000
$ 7,050,000
Less Revenue Bonds
(3,210,000)
(3,210,000)
Restricted Net position:
190,000
190,000
Unrestricted (plug)
1,951,000
1,951,000
Total Net position
$ 3,840,000
190,000
1,951,000
5,981,000
Chapter 8 Government-Wide Statements, Capital Assets, Long-Term Debt
8-8. CITY OF NORTHERN PINES
STATEMENT OF ACTIVITIES
YEAR ENDED JUNE 30, 2015
PROGRAM REVENUES
NET (EXPENSE) REVENUE AND CHANGE IN NET POSITION
FUNCTIONS/PROGRAMS
EXPENSES
CHARGES FOR
SERVICES
OPERATING
GRANTS
GOVERNMENTAL
ACTIVITIES
BUSINESS-TYPE
ACTIVITIES
TOTAL
GOVERNMENTAL ACTIVITIES:
GENERAL GOVERNMENT
PUBLIC SAFETY
PUBLIC WORKS
HEALTH AND SANITATION
CULTURE AND RECREATION
INTEREST ON LONG-TERM DEBT
TOTAL GOVERNMENTAL
ACTIVITIES
$11,560,000
23,900,000
11,290,000
6,210,000
4,398,000
721,000
58,079,000
$1,110,000
210,000
2,555,000
2,198,000
________
6,073,000
$ 798,000
1,210,000
________
2,008,000
$(10,450,000)
(22,892,000)
(11,290,000)
(2,445,000)
(2,200,000)
( 721,000)
(49,998,000)
$
$ (10,450,000)
(22,892,000)
(11,290,000)
(2,445,000)
(2,200,000)
( 721,000)
(49,998,000)
BUSINESS-TYPE ACTIVITIES:
WATER AND SEWER SYSTEM
PARKING SYSTEM
TOTAL BUSINESS-TYPE
ACTIVITIES
10,700,000
419,000
11,119,000
11,578,000
398,000
11,976,000
----
----
---
----
----
---
878,000
(21,000)
857,000
878,000
( 21,000)
857,000
TOTAL
$69,198,000
$18,049,000
$2,008,000
(49,998,000)
857,000
(49,141,000)
GENERAL REVENUES:
PROPERTY TAXES
SALES TAXES
INVESTMENT EARNINGS
SPECIAL ITEM-GAIN ON SALE OF LAND
TRANSFERS
TOTAL GENERAL REVENUES,
SPECIAL ITEMS, AND TRANSFERS
CHANGE IN NET POSITION
NET POSITION, JULY 1, 2014
NET POSITION, JUNE 30, 2015
27,112,000
20,698,000
1,250,000
700,000
49,760,000
(238,000)
8,000,000
$ 7,762,000
325,000
(700,000)
(375,000)
482,000
2,500,000
$ 2,982,000
27,112,000
20,698,000
325,000
1,250,000
-
49,385,000
244,000
10,500,000
$ 10,744,000
Chapter 8 Government-Wide Statements, Capital Assets, Long-Term Debt
8-9. CITY OF GRINDERS SWITCH
WORKSHEET ENTRIES
DEBITS
CREDITS
1.
LAND
BUILDINGS
IMPROVEMENTS OTHER THAN BUILDINGS
EQUIPMENT
ACCUMULATED DEPRECIATION, CAPITAL ASSETS
NET POSITION
7,820,000
32,355,000
14,690,000
11,554,000
24,300,000
42,119,000
2.
BUILDINGS
IMPROVEMENTS OTHER THAN BUILDINGS
EXPENDITURES-CAPITAL OUTLAY
4,800,000
2,400,000
7,200,000
3.
DEPRECIATION EXPENSE
ACCUMULATED DEPRECIATION-BUILDINGS
(32,355,000/40)
ACCUMULATED DEPRECIATION-IMPROVEMENTS
OTHER THAN BUILDINGS (14,690,000/20)
ACCUMULATED DEPRECIATION-EQUIPMENT
(11,554,000/10)
2,698,775
808,875
734,500
1,155,400
4.
SPECIAL ITEM -PROCEEDS FROM SALE OF LAND
LAND
SPECIAL ITEM: GAIN ON SALE OF LAND
600,000
505,000
95,000
5.
NET POSITION
BONDS PAYABLE
PREMIUM ON BONDS PAYABLE
4,036,000
4,000,000
36,000
6.
PREMIUM ON BONDS PAYABLE
INTEREST EXPENSE
3,600
3,600
BONDS PAYABLE
EXPENDITURES-PRINCIPAL
400,000
400,000
7.
OTHER FINANCING SOURCES-PROCEEDS OF BONDS
BONDS PAYABLE
1,700,000
1,700,000
Chapter 8 Government-Wide Statements, Capital Assets, Long-Term Debt
8-10.
CITY OF SOUTH PITTSBURGH
WORKSHEET ENTRIES
DEBITS
CREDITS
1.
REVENUES-PROPERTY TAXES
NET POSITION
69,400
69,400
2.
DEFERRED INFLOWS-PROPERTY TAXES
REVENUES-PROPERTY TAXES
80,000
80,000
3.
PUBLIC SAFETY EXPENSE
COMPENSATED ABSENCES PAYABLE
175,000
175,000
4.
PUBLIC SAFETY EXPENSE
NET PENSION OBLIGATION
22,000
22,000
5.
TRANSFERS IN
TRANSFERS OUT
1,100,000
1,100,000
8-11.
CITY OF SOUTHERN PINES
WORKSHEET ENTRIES
DEBITS
CREDITS
1.
CASH
INVESTMENTS
DUE FROM GENERAL FUND*
INVENTORIES
CAPITAL ASSETS (NET)
ACCOUNTS PAYABLE
LONG-TERM ADVANCE FROM ENTERPRISE FUND
NET POSITION
185,000
125,000
15,000
325,000
960,000
50,000
700,000
860,000
*
DUE TO INTERNAL SERVICE FUND (GENERAL FUND)
DUE FROM GENERAL FUND (INTERNAL SERVICE FUND)
15,000
15,000
2.
NET POSITION
INTEREST REVENUE
3,750
3,750
3.
NET POSITION
EXPENDITURES-GENERAL GOVERNMENT
EXPENDITURES-PUBLIC SAFETY
EXPENDITURES-PUBLIC WORKS
36,000
12,000
12,000
12,000
Chapter 8 Government-Wide Statements, Capital Assets, Long-Term Debt
8-12 SHENANDOAH CITY
WORKSHEET ENTRIES
FOR THE YEAR ENDED DECEMBER 31, 2015
DEBITS
CREDITS
CAPITAL
ASSETS
LAND
BUILDINGS
INFRASTRUCTURE
EQUIPMENT
ACCUMULATED DEPRECIATION - BUILDINGS
ACCUMULATED DEPRECIATION - INFRASTRUCTURE
ACCUMULATED DEPRECIATION - EQUIPMENT
NET POSITION
7,230,000
22,600,000
27,500,000
6,370,000
13,000,000
9,000,000
3,100,000
38,600,000
EQUIPMENT
BUILDINGS
EXPENDITURES-CAPITAL OUTLAY
856,700
2,402,000
3,258,700
DEPRECIATION EXPENSE
ACCUMULATED DEPRECIATION - BUILDINGS
ACCUMULATED DEPRECIATION - INFRASTRUCTURE
ACCUMULATED DEPRECIATION - EQUIPMENT
2,612,500
1,100,000
975,000
537,500
LONG
TERM
DEBT
NET POSITION
BONDS PAYABLE
6,000,000
6,000,000
OTHER FINANCING SOURCES - PROCEEDS OF BONDS
OTHER FINANCING SOURCES-PREMIUM ON BONDS
BONDS PAYABLE
PREMIUM ON BONDS PAYABLE
4,000,000
50,000
4,000,000
50,000
BONDS PAYABLE
EXPENDITURES-DEBT SERVICE-BOND PRINCIPAL
500,000
500,000
INTEREST
INTEREST EXPENSE
ACCRUED INTEREST PAYABLE
[(6,000,000 – 500,000) * 6% * 6/12] + [(4,000,000) * 5% * 6/12]
265,000
265,000
NET POSITION
INTEREST EXPENSE
(2014 ACCRUAL REVERSAL)
180,000
180,000
PREMIUM ON BONDS PAYABLE
INTEREST EXPENSE
2,500
2,500
Chapter 8 Government-Wide Statements, Capital Assets, Long-Term Debt
8-12 (CONTINUED). SHENANDOAH CITY
WORKSHEET ENTRIES
(CONTINUED)
DEBITS
CREDITS
DEFERRED
INFLOWS -
TAXES
REVENUES-PROPERTY TAXES
NET POSITION
37,000
37,000
DEFERRED INFLOWS OF RESOURCES –
PROPERTY TAXES
REVENUES-PROPERTY TAXES
46,000
46,000
ACCRUED
LIABILITIES
NET POSITION
ACCRUED LANDFILL CLOSURE AND
POSTCLOSURE CARE COSTS
29,500
29,500
PUBLIC WORKS EXPENSES (CLOSURE AND POSTCLOSURE
CARE)
ACCRUED LANDFILL CLOSURE AND
POSTCLOSURE CARE COSTS
5,000
5,000
INTERNAL
SERVICE
ACTIVITIES
CASH
DUE FROM OTHER FUNDS
INVENTORIES
LAND
BUILDINGS
EQUIPMENT
ACCUMULATED DEPRECIATION – BUILDINGS
ACCUMULATED DEPRECIATION - EQUIPMENT
ACCOUNTS PAYABLE
ADVANCE FROM WATER UTILITY FUND
NET POSITION
25,000
21,200
27,000
25,000
44,000
21,000
13,200
12,600
18,400
10,000
109,000
NET POSITION
INVESTMENT INCOME
5,000
5,000
EXPENDITURES-CURRENT-GENERAL GOVERNMENT
NET POSITION
3,000
3,000
INTERFUND
BALANCES
TRANSFERS IN
TRANSFERS OUT
145,900
145,900
DUE TO OTHER FUNDS
DUE FROM OTHER FUNDS
10,200
10,200
Chapter 8 Government-Wide Statements, Capital Assets, Long-Term Debt
8-10
8-13 PART 1 SOLUTIONS TO THE EXCEL BASED EXERCISES ARE ALSO AVAILABLE IN EXCEL ON
THE INSTRUCTOR’S WEBSITE
WORKSHEET JOURNAL ENTRIES TO CONVERT
TO THE ACCRUAL BASIS OF ACCOUNTING
A
CAPITAL ASSETS (NET)
7,752,000
NET POSITION BEGINNING OF YEAR
7,752,000
DEPRECIATION EXPENSE
305,000
CAPITAL ASSETS (NET)
305,000
CAPITAL ASSETS (NET)
651,900
CAPITAL OUTLAY (EXPENDITURE)
651,900
B.
NO BEGINNING LONG TERM DEBT
-
-
PROCEEDS FROM SALE OF BONDS
700,000
PROCEEDS FROM BOND PREMIUM
22,800
BONDS PAYABLE
700,000
BOND PREMIUM
22,800
BONDS PAYABLE
22,000
EXPENDITURE - PRINCIPLE ON BONDS
22,000
INTEREST EXPENSE
10,170
INTEREST PAYABLE
10,170
INTEREST FROM OCT. 1 TO DEC. 31
(700,000 - 22,000) * 6% * 3/12 = 10,170
PREMIUM ON BONDS PAYABLE
1,500
INTEREST EXPENSE
1,500
C.
DEFERRED INFLOWS PROPERTY TAXES
22,600
PROPERTY TAX REVENUE
22,600
PROPERTY TAX REVENUE
21,000
NET POSITION BEGINNING OF YEAR
21,000
D
TRANSFERS IN
65,800
TRANSFERS OUT
65,800
Chapter 8 Government-Wide Statements, Capital Assets, Long-Term Debt
8-11
PART A CONTINUED
E
CASH
22,850
DUE FROM OTHER FUNDS
15,750
SUPPLIES INVENTORY
3,500
CAPITAL ASSETS (NET)
21,600
ACCOUNTS PAYABLE
4,350
WAGES PAYABLE
490
INTEREST PAYABLE
600
BANK NOTE PAYABLE
10,000
ADVANCE FROM ENTERPRISE FUND
17,000
NET POSITION
31,260
NET POSITION
5,660
GENERAL GOVERNMENT EXPENDITURES
5,660
INTEREST EXPENSE
600
NET POSITION
600
Chapter 8 Government-Wide Statements, Capital Assets, Long-Term Debt
8-12
Jefferson County
Statement of Activities
for the year ended 12-31-2015
8-13 Part 2
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
$ 175,900
$ -
$ (175,900)
$ (175,900)
Library
12,700
-
(12,700)
(12,700)
Depreciation
305,000
(305,000)
(305,000)
Interest
30,270
(30,270)
(30,270)
Total Governmental Activities
523,870
-
-
-
(523,870)
(523,870)
Business Type Activities
Water and Sewer
768,000
805,000
37,000
37,000
Total Government
$ 1,291,870
$ 805,000
$ -
$ -
$ (523,870)
$ 37,000
(486,870)
General Revenues
Taxes:
Property Taxes
263,675
263,675
Intergovernmental revenues
280,000
280,000
Investment Income
21,100
21,100
Total General Revenues
564,775
-
564,775
Change in Net Position
40,905
37,000
77,905
Net Position, Beginning
8,523,958
41,650
8,565,608
Net Position, Ending
$ 8,564,863
$ 78,650
$ 8,643,513
Chapter 8 Government-Wide Statements, Capital Assets, Long-Term Debt
8-13
8-13 PART 3 (CONTINUED)
JEFFERSON COUNTY
STATEMENT OF NET POSITION
DECEMBER 31, 2015
GOVERNMEN-
TAL ACTIVITIES
BUSINESS-TYPE
ACTIVITIES
TOTAL
ASSETS
CASH
$ 363,198
$ 22,000
$ 385,198
INVESTMENTS
502,400
-
502,400
TAXES RECEIVABLE (NET)
51,325
-
51,325
INTEREST RECEIVABLE
1,700
-
1,700
INTERNAL BALANCES CURRENT
15,750
(15,750)
-
DUE FROM OTHER GOVERNMENTS
280,000
-
280,000
INVENTORIES
3,850
18,000
21,850
INTERNAL BALANCES LONG-TERM
(17,000)
17,000
-
CAPITAL ASSETS, NET OF ACCUMULATED
DEPRECIATION
8,120,500
255,000
8,375,500
TOTAL ASSETS
$ 9,321,723
$ 296,250
$ 9,617,973
LIABILITIES
ACCOUNTS PAYABLE
10,450
16,750
27,200
WAGES PAYABLE
1,340
850
2,190
ACCRUED INTEREST PAYABLE
10,770
-
10,770
CONTRACT PAYABLE
25,000
-
25,000
BANK NOTE PAYABLE
10,000
-
10,000
BONDS PAYABLE
678,000
200,000
878,000
PREMIUM ON BONDS SOLD
21,300
-
21,300
TOTAL LIABILITIES
756,860
217,600
974,460
NET POSITION
NET INVESTMENT IN CAPITAL ASSETS
7,421,200
55,000
7,476,200
RESTRICTED
936,000
-
936,000
UNRESTRICTED
207,663
23,650
231,313
TOTAL NET POSITION
$ 8,564,863
$ 78,650
$ 8,643,513
Chapter 8 Government-Wide Statements, Capital Assets, Long-Term Debt
8-14
8-14 PART 1
WORKSHEET JOURNAL ENTRIES TO CONVERT
TO THE ACCRUAL BASIS OF ACCOUNTING
A1
CAPITAL ASSETS (NET)
16,990,000
NET POSITION - BEGINNING
16,990,000
A2
DEPRECIATION EXPENSE
3,100,000
CAPITAL ASSETS (NET)
3,100,000
A3
CAPITAL ASSETS (NET)
11,180,818
CAPITAL EXPENDITURES
11,180,818
B1
NET POSITION - BEGINNING
10,596,000
BONDS PAYABLE
10,596,000
B2
OFS: PROCEEDS FROM ISSUANCE OF DEBT
9,675,400
BONDS PAYABLE
9,675,400
B3
BONDS PAYABLE
954,326
EXPENDITURE - DEBT PRINCIPAL
954,326
B4
INTEREST EXPENSE
167,000
ACCRUED INTEREST PAYABLE
167,000
B5
NET POSITION - BEGINNING OF YEAR
186,500
INTEREST EXPENSE
186,500
C1
DEFERRED INFLOWS -- PROPERTY TAXES
185,064
PROPERTY TAX REVENUE
185,064
C2
PROPERTY TAX REVENUE
188,400
NET POSITION - BEGINNING
188,400
D1
NET POSITION - BEGINNING
2,471,480
LANDFILL CLOSURE COST LIABILITY
2,471,480
D2
PUBLIC WORKS EXPENSE
128,520
LANDFILL CLOSURE COST LIABILITY
128,520
E1
OFS: TRANSFERS FROM OTHER FUNDS
2,730,144
OFU: TRANSFERS TO OTHER FUNDS
2,730,144
Chapter 8 Government-Wide Statements, Capital Assets, Long-Term Debt
8-15
8-14 PART 3
CITY OF COTTONWOOD
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED DECEMBER 31, 2015
PRIMARY GOVERNMENT
NET (EXPENSE) REVENUE AND CHANGE IN NET
POSITION
FUNCTIONS/PROGRAMS
EXPENSES
CHARGES FOR
SERVICES
GOVERNMENTAL
ACTIVITIES
BUSINESS-
TYPE
ACTIVITIES
TOTAL
GOVERNMENTAL ACTIVITIES:
GENERAL GOVERNMENT
3,074,532
1,156,497
(1,918,035)
-
(1,918,035)
JUDICIAL ADMINISTRATION
4,400,325
44,018
(4,356,307)
-
(4,356,307)
PUBLIC SAFETY
6,328,125
275,492
(6,052,633)
-
(6,052,633)
PUBLIC WORKS
4,753,945
-
(4,753,945)
-
(4,753,945)
HEALTH AND WELFARE
4,418,294
-
(4,418,294)
-
(4,418,294)
EDUCATION
3,887,834
-
(3,887,834)
-
(3,887,834)
PARKS AND RECREATION
3,155,325
604,359
(2,550,966)
-
(2,550,966)
COMMUNITY DEVELOPMENT
1,793,013
51,611
(1,741,402)
-
(1,741,402)
DEPRECIATION EXPENSE
3,100,000
(3,100,000)
-
(3,100,000)
INTEREST ON LONG-TERM DEBT
1,106,318
-
(1,106,318)
-
(1,106,318)
TOTAL GOVERNMENTAL ACTIVITIES
36,017,711
2,131,977
(33,885,734)
-
(33,885,734)
BUSINESS TYPE ACTIVITIES
WATER
4,041,987
5,385,233
1,343,246
1,343,246
SOLID WASTE
1,556,633
1,851,433
294,800
294,800
PARKING
481,869
461,107
(20,762)
(20,762)
TOTAL BUSINESS-TYPE ACTIVITIES
6,080,489
7,697,773
-
1,617,284
1,617,284
TOTAL PRIMARY GOVERNMENT
42,098,200
9,829,750
(33,885,734)
1,617,284
(32,268,450)
GENERAL REVENUES
PROPERTY
TAXES
24,583,914
24,583,914
OTHER LOCAL TAXES
11,403,125
11,403,125
MISCELLANEOUS
1,302,422
1,302,422
TRANSFERS
(526,755)
526,755
-
TOTAL GENERAL REVENUES
36,762,706
526,755
37,289,461
CHANGE IN NET POSITION
2,876,972
2,144,039
5,021,011
NET POSITION, BEGINNING
17,671,149
29,897,624
47,568,773
NET POSITION, ENDING
20,548,121
32,041,663
52,589,784
Chapter 8 Government-Wide Statements, Capital Assets, Long-Term Debt
8-16
CITY OF COTTONWOOD
STATEMENT OF NET POSITION
AS OF DECEMBER 31, 2015
PRIMARY GOVERNMENT
GOVERNMENTAL
BUSINESS-TYPE
PRIMARY
ASSETS
ACTIVITIES
ACTIVITIES
GOVERNMENT
CASH AND CASH EQUIVALENTS
8,161,351
4,025,000
12,186,351
INVESTMENTS
3,312,992
5,871,042
9,184,034
INVENTORY
33,126
71,042
104,168
RECEIVABLES (NET)
-
TAXES RECEIVABLE
2,872,611
2,872,611
INTEREST RECEIVABLE
693,392
26,573
719,965
DUE FROM OTHER GOVERNMENTS
1,328,448
292,775
1,621,223
OTHER ASSETS
23,747
23,747
INVESTMENT IN PERMANENT
ENDOWMENT
3,875,600
-
3,875,600
CAPITAL ASSETS (NET OF ACCUMULATED DEPRECIATION)
25,070,818
42,142,915
67,213,733
TOTAL ASSETS
45,372,085
52,429,347
97,801,432
LIABILITIES
ACCOUNTS PAYABLE
$ 2,320,134
493,849
2,813,983
ACCRUED WAGES AND BENEFITS
419,756
473,168
892,924
ACCRUED INTEREST PAYABLE
167,000
167,000
LANDFILL POST CLOSURE CARE COSTS LIABILITY
2,600,000
562,480
3,162,480
BONDS PAYABLE
19,317,074
18,858,187
38,175,261
TOTAL LIABILITIES
24,823,964
20,387,684
45,211,648
NET POSITION
NET INVESTMENT IN CAPITAL ASSETS
5,753,744
23,284,728
29,038,472
RESTRICTED
4,447,614
-
4,447,614
UNRESTRICTED
10,346,763
8,756,935
19,103,698
TOTAL NET POSITION
$ 20,548,121
32,041,663
52,589,784
