Chapter 04 - Accounting for Governmental Operating ActivitiesIllustrative Transactions and Financial Statements

CHAPTER 4:

ACCOUNTING FOR GOVERNMENTAL OPERATING ACTIVITIES ILLUSTRATIVE TRANSACTIONS AND FINANCIAL STATEMENTS
OUTLINE

Number )ue"$io*": 44-& 4-) 4-4 4-. 4-+ 4-/ 4-0 4-3 4- 0 C!"e": 44-& 4-) 4-4

Topic

Type T!"#

S$!$u" %re: &' e( %evised 4-) revised 4-+ 4-4 revised 4-. revised 4-/ revised 4-0 4-3 4- 0 4e5 Same %evised Same Same

!ual effects of transactions Statement of net assets vs' governmental fund (alance sheet *enefits of encum(rance procedure ,ropert- ta# revenue Cash (asis (udgets and GAA, "#penditures vs' e#penses for supplies Contrast and compare ad valorem and derived ta# revenues 1tili2ation of interim financial reports ,ermanent funds Classes of none#change transactions

"#plain$ e#amples "#plain "#plain Compute "#plain "#plain "#plain "#plain !escri(e !escri(e Anal-2e$ 5rite Anal-2e$ 5rite "#plain$ 5rite Anal-2e$ e#plain

Anal-2ing results of operations ,olic- issues relating to propert- ta#es %eporting internal service fund information %ecognition and reporting of a multipurpose reim(ursement grant E+erci"e" Prob,em": 44-& 4-) 4-4 4-. 4-+ 4-/ 4-0 4-3 4- 0 4"#amine the CAF% 6arious %ecording purchase orders8 receipt of goods ,ropert- ta# calculations and :ournal entries Calculation of re;uired ta# anticipation financing and recording issuance of TA4s Ad:usting and closing entries Special revenue fund and voluntarnone#change transactions Transactions and (udgetar- comparison schedule Interfund and interactivit- transactions Operating transactions and General Fund (alance sheet ,ermanent fund accounting
4-

"#amine 7ultiple Choice 9"s Calculate$ 9"s Calculate$ 9"s Anal-2e$ 9"s Anal-2e$ 9"s 9"s and schedule 9"s 9"s and statement 9"s and statements

Same 4e58 revised 4e5 4-4 4-) revised "4-.$ 4-/ revised 4-+ revised 4-3 revised 4-0 revised 4- 0 revised 4revised

Chapter 04 - Accounting for Governmental Operating ActivitiesIllustrative Transactions and Financial Statements

CHAPTER 4:
Ans5ers to <uestions 4' '

ACCOUNTING FOR GOVERNMENTAL OPERATING ACTIVITIES-ILLUSTRATIVE TRANSACTIONS AND FINANCIAL STATEMENTS

1nder the GAS* financial reporting model$ governmental activities are reported on a long-term perspective at the government-5ide level using the economic resources measurement focus and the accrual (asis of accounting$ similar to (usiness accounting' This means that (oth current and noncurrent assets and lia(ilities are reported on the statement of net position' %evenues and e#penses$ recogni2ed on the accrual (asis$ are reported on the statement of activities' Conversel-$ the General Fund reports on a shortterm perspective using the current financial resources measurement focus and the modified accrual (asis of accounting' Therefore$ the General Fund reports onl- current assets and lia(ilities' %evenues and e#penditures and other financing sources and uses$ recogni2ed on the modified accrual (asis$ are reported on the statement of revenues$ e#penditures$ and changes in fund (alances' "#amples of transactions or events that are recorded onl- in the General Fund general :ournal include (udgetar- entries and encum(rance transactions' "#amples of transactions that are recorded onl- in the governmental activities general :ournal include depreciation e#pense on general capital assets and accrual of interest on long-term de(t =as discussed in Chapter +>' ,urchases of goods and services$ salaries and 5ages$ and most revenue items are e#amples of transactions that are recorded in (oth the General Fund general :ournal and the governmental activities :ournal'

4-&'

The primar- difference is that the government-5ide statement of net position focuses on total economic resources$ recogni2ed on the accrual (asis of accounting8 5hereas$ the General Fund focuses on current financial resources$ recogni2ed on the modified accrual (asis of accounting' For that reason$ (oth noncurrent and current assets and lia(ilities are reported on the government-5ide statement of net position$ (ut onl- current assets and lia(ilities are reported on the General Fund (alance sheet' Another difference is that the statement of net position aggregates all governmental activities =including General Fund$ special revenue$ capital pro:ects$ de(t service$ permanent funds$ and some internal service funds> and reports those in one column$ 5hereas the (alance sheet for governmental funds presents a column for the General Fund$ each ma:or fund$ and one column for all other nonma:or funds' A further difference is that the statement of net position can (e presented either in the net position format =assets and deferred outflo5s of resources$ if an-$ minus lia(ilities and deferred inflo5s of resources$ if an-$ e;uals net position> or the traditional format =assets e;uals lia(ilities plus net position>'

4-)'

The use of encum(rance procedures earmar?s a portion of the remaining (udgetarappropriation 5hen a purchase order is issued or a contract for services is signed$ thus alerting departmental officials and finance department personnel that a portion of the authori2ation is no longer availa(le' @ithout the encum(rance$ it is al5a-s possi(le that
4-&

Chapter 04 - Accounting for Governmental Operating ActivitiesIllustrative Transactions and Financial Statements

Ch' 4$ Ans5ers$ 4-) =ContAd>

another purchase order or contract 5ill (e issued that could e#ceed the remaining availa(le appropriation for that line item in a particular department' 4-4' !isagree' The mar?et value of real propert- ma- fall (elo5 accumulated ta#es$ interest$ and penalties applica(le to the propert-$ causing some ta#pa-ers to default' ,ersonal propert-$ such as vehicles$ (oats$ and animals$ ma- (e destro-ed or removed from the ta#ing :urisdiction' It ma-$ therefore$ (ecome economicall- infeasi(le for the government to pursue collection of these ta#es' B+$/&0$000 B+$/&0$000 B+$/&0$000 gross levC gross lev- - ='04 D gross lev-> C = - '04> D gross levC '3+ D gross levC B+$/&0$000E'3+ C B/$000$000'

4-.'

4-+'

To facilitate a true (udget and actual comparison$ governments should present actual revenues and e#penditures on the same (asis the la5 re;uires for (udget preparation' The (udget (asis for revenues is often the same as GAA,$ (ut some :urisdictions ma-$ for e#ample$ recogni2e revenues on the cash (asis rather than modified accrual' The (udget (asis for e#penditures often adds encum(rances to e#penditures$ 5hereas in the GAA,-(asis operating statement onl- e#penditures are reported' Conse;uentl-$ (udget (asis e#penditures 5ill often e#ceed GAA,-(asis e#penditures (- the amount of encum(rances outstanding' The purchases method is consistent 5ith the modified accrual (asis of accounting as an e#penditure is recogni2ed for the full cost of supplies 5hen purchased$ regardless of the amount used during the -ear' The consumption method is consistent 5ith the accrual (asis of accounting as an e#penditure or e#pense is recogni2ed for the cost of supplies used during the -ear' Some governments prefer to use the purchases method in the General Fund$ since it is more consistent 5ith the modified accrual (asis used for (udgeting' At the government-5ide level$ GAS* standards re;uire the use of accrual accounting' The purchases method 5ould therefore (e inappropriate at the government5ide level' *ecause activities of the General Fund and Cit- Fi(rar- Fund are (oth reported in the Governmental Activities column at the government-5ide level$ the B.$000 receiva(le (the General Fund and pa-a(le (- the Cit- Fi(rar- Fund are off-setting and are not reported at the government-5ide level' Go5ever$ since activities of the Cit- "lectric Fund are reported in the *usiness-t-pe Activities column at the government-5ide level$ the B0$000 (alance o5ed is a receiva(le of one column =Governmental Activities> and a pa-a(le of another column =*usiness-t-pe Activities>' The amounts are reported as a single line item in the Assets section of the statement of net position called Internal *alances$ reporting B0$000 in the Governmental Activities column and =B0$000> in the *usiness-t-pe Activities column'

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4-0'

4-)

Chapter 04 - Accounting for Governmental Operating ActivitiesIllustrative Transactions and Financial Statements

Ch' 4$ Ans5ers =ContAd>

4'3'

,ermanent funds and special revenue funds are (oth governmental fund t-pes' If a public-purpose trust re;uires that the principal amount of the contri(ution not (e e#pended$ (ut that earnings on the principal =as defined in the trust agreement or (- la5> can (e e#pended for a specified purpose$ the trust must (e accounted for in a permanent fund' On the other hand$ if the pu(lic-purpose trust permits (oth the principal of the contri(ution and all earnings to (e e#pended for the specified purpose$ then a special revenue fund is used' If a trust provides (enefit to an e#ternal part-$ organi2ation$ or other government$ it is a private-purpose trust and must (e recorded in a private-purpose trust funda fiduciar- fund t-pe' As sho5n in the Appendi# to Chapter 4$ the four classes of none#change transactions are = > derived ta# revenues$ =&> imposed none#change revenues$ =)> government-mandated none#change transactions$ and =4> voluntar- none#change transactions' For derived ta# revenues$ such as sales and similar ta#es$ revenues should (e recogni2ed 5hen the underl-ing e#change =e'g'$ sale of goods or services> has occurred' %evenues for imposed none#change revenues should (e recogni2ed 5hen resources are re;uired to (e used or the first period that use is permitted' For (oth government-mandated and voluntar- transactions$ revenues =and e#penses or e#penditures for the other part-> should (e recogni2ed in the period 5hen all eligi(ilit- re;uirements$ such as meeting matching re;uirements$ have (een met$ unless received =or paid> in advance of use in a follo5ing period' If received in advance$ the receipt should (e reported as deferred revenue$ 5hich 5ill then (e reclassified as revenue in the period of use'

4' 0'

Solutions to CasesH 4- ' a' Students 5ill e#amine different governments$ (ut in all cases there should (e a significant difference (et5een the change in the total fund (alances of governmental funds and the change in net position of governmental activities' A simple evaluation of a positive change or increase is that it represents Igood ne5sJ 5hile a decrease in fund (alances or net position represents I(ad ne5s'J This initial assessment should al5a-s (e ;ualified until further anal-sis is done to determine 5hether the government had planned for that outcome' Changes in net position at the government-5ide level 5ill include such items as depreciation of general capital assets and amorti2ation of (ond discounts and premiums' Changes in the fund (alances of governmental funds 5ill include ne5 ac;uisitions of capital assets that have (een recorded as e#penditures for the current -ear =as 5ell as sales of capital assets>$ and proceeds of (ond issuances' In addition$ the net revenue of certain internal service fund =ISF> activit- 5ill (e reflected in governmental activities net position$ (ut not governmental funds fund (alances$ as the ISF is a proprietar- fund' "ncourage students to e#amine the %econciliation of the Statement of %evenues$ "#penditures$ and Changes in Fund *alancesGovernmental Funds to the Statement of Activities =see Illustration A&-+>' The- should recast the information in this statement in Iplain "nglishJ to (e included in their memo' The nature of the stor- to (e told is that the government is accounta(le for spending 5ithin its legal
4-4

b.

Chapter 04 - Accounting for Governmental Operating ActivitiesIllustrative Transactions and Financial Statements

Ch' 4$ Solutions$ Case 4- $ b. =ContAd>

authori2ation as presented in the (udget$ and governmental fund financial statements are designed to sho5 this fiscal accounta(ilit-' On the other hand$ government managers are also accounta(le for the operations of the government 5ith a vie5 to5ard the government as a 5hole and its long-term financial condition$ and the government-5ide statements are designed to meet this need' 4-&' This is a case for 5hich there is no IrightJ ans5er' %ather students should (e given credit for ho5 5ell the- identif-$ develop$ and communicate pertinent issues$ and on the ;ualit- of their anal-sis' Some students ma- ;uestion 5h- this case is relevant to accountants' 7an- students can e#pect to 5or? in the future for a government or to audit governments' Accountants serve a vital role in providing the financial information and anal-ses upon 5hich revenue pro:ections and ta# lev- needs are (ased' At the ver- least$ 5e are all ta#pa-ers' So there are issues in this case that all of us$ as ta#pa-ers$ ma- face during our lifetimes' a. = > 7ost students should see their ta# situation during the first t5o -ears of the prerecession period in a ver- favora(le light' After all$ 5ho 5ouldnAt (e delighted to find their propert- ta#es declining 5hile the mar?et value of the same propert- is increasingK This is a time 5hen such ta#pa-ers 5ill (e ver- ;uiet$ (eing careful not to divulge to their neigh(ors ho5 much propert- ta# the- are pa-ing since there is a good chance some of their neigh(ors are pa-ing significantl- more' =&> 7an- 5ould (e alarmed to see that the assessed valuation of their propert- increased (- ). percent$ (ut might (e relieved to see that the amount 5ould (e phased in e;uall- over the ne#t three -ears' *ecause the increase onl(rings the assessed valuation of their propert- in line 5ith mar?et value$ the level of concern li?el- 5ould not 5arrant an appeal to the ";uali2ation %evie5 Commission' After all$ for t5o -ears the ta#pa-er had (een pa-ing lo5er propert- ta#es than man- other ta#pa-ers 5ith similar propert-' =)> This is the time that the student$ as propert- o5ner$ should (e getting ver- concerned' On top of o5ing more than the propert- is 5orth$ heEshe is facing an increasing propert- ta# pa-ment' 7an- ta#pa-ers could (e e#pected to appeal to the commission in hopes of o(taining a decrease in the assessed valuation of their propert-' Go5ever$ if the commission loo?s at the full five -ears an appeal might (e dismissed' Also$ if the ta#pa-er happens to (e a politicall- visi(le individual of the 5rong part-$ chances of a successful appeal could (e diminished' @elcome to the real 5orldL b' = > @hile it ma- (e tempting to leave the ta# rate unchanged during the period propert- ta#es are increasing$ state la5 in this case effectivel- mandates a rate roll(ac? to ensure that overall propert- ta# revenues do not increase (- more than 0 percent in an- -ear' Also$ propert- o5ners 5hose properties have recentl(een reassessed up5ard can (e e#pected to lo((- their council mem(ers or testifat (udget hearings for a reduction in the propert- ta# rate' Since it is in the citmanagerAs interest to maintain the revenue (ase as high as possi(le$ her or his
4-.

Chapter 04 - Accounting for Governmental Operating ActivitiesIllustrative Transactions and Financial Statements

Ch' 4$ Solutions$ Case 4-&$ b. =ContAd>

efforts should (e focused on minimi2ing the ta# rate roll(ac?' SheEhe can argue that assessed values of propert- are seldom s-nchroni2ed 5ith actual mar?et values$ so the rate roll(ac? should (e ?ept at a minimum to help deal 5ith uncertaint- a(out future economic and mar?et conditions' =&> As it 5as for the propert- o5ners$ the recessionar- period is the period of greatest concern to the cit- manager' %evenues from sources other than propert- ta#es$ particularl- sales ta#es$ 5ill (e declining sharpl- during a severe recession' Thus$ 5hile the cit- manager 5ould li?e to increase the propert- ta# rate to offset declining revenues$ political opposition to an- ?ind of ta# increase can (e e#pected' "ven restoring the propert- ta# rate to its historical level$ after three -ears of roll(ac?s during the pre-recession period$ might (e a politicall- tough sell' The cit- managerAs (est tactical approach might (e to focus on the InormalJ propert- ta# rate$ pointing out that ta# rates should return to their normal level follo5ing rate roll(ac?s during an economic ups5ing' "ven if the cit- manager can persuade the cit- council to approve onl- a slight increase in the propert- ta# rate$ that 5ould help to partiall- offset the decline in other revenues' At an- rate$ this case raises oneAs a5areness that in the government environment political considerations are often as important as economic considerations$ particularlduring times of economic distress' Such situations almost al5a-s pose significant challenges for local government officials$ (oth elected and appointed' 4-)' a. )ue"$io* &. This issue relates to the discussion of 9ournal "ntries )a and )( in this chapter' Meep in mind that the financial information for the internal service fund is usuall- reported in the single Governmental Activities column of the government5ide financial statements' As a result$ from the perspective of the government as a 5hole$ the cost to the internal service fund to complete printing and signage :o(s is the actual cost to the government' An- mar?up$ a(ove the cost of printing and signage$ paid (- governmental funds to the internal service fund simpl- resides in the internal service fund$ and has not left governmental activities' )ue"$io* /. It seems almost natural that the (illings to departments should (e considered program revenues at the government-5ide level8 specificall-$ charges for services since the- are e#change transactions' Go5ever$ this is not the case' Antransactions (et5een funds for 5hich financial information is reported in the Governmental Activities column of the government-5ide statements have no net effect on governmental activities' Onl- a transaction (et5een one of these funds and either an enterprise fund or an e#ternal entit- =including fiduciar- funds and discretel- presented component units> 5ill have an- net effect on governmental activities' On the other hand$ the e#penses incurred (- the internal service fund should (e reported as e#penses of each function or program in the proportion that function or program (enefited' The (illings to departments ma- (e useful in recording the appropriate amounts of e#penses to apportion to the functions or programs that used the printing or signage'

4-+

Ch' 4$ Solutions$ Case 4-)$ a. =ContAd>

)ue"$io* 0. It ma- seem intuitive that 0 percent of the financial information of the ,rinting and Sign Fund should (e reported in the *usiness-t-pe Activities column of the government-5ide financial statements and 30 percent should (e reported in the Governmental Activities column' Go5ever$ GAS* standards and su(se;uent implementation guidance ma?e it clear that if the internal service fund predominantlserves governmental activities$ then all of its financial information should (e reported in the Governmental Activities column' ,resuma(l- the resulting misstatement of amounts in the t5o columns of the government-5ide statement is not considered material' b. 1nder the revised assumptions$ the ,rinting and Sign Fund no5 predominantl- serves an enterprise fund' 1nder these circumstances$ all of the ,rinting and Sign FundAs financial information should (e reported in the *usiness-t-pe Activities column' 4-4' a. Although it 5ould (e tempting to record a receiva(le and revenue =or$ perhaps$ deferred revenue> upon notification of approval$ that 5ould (e inconsistent 5ith GAS* guidance for voluntar- none#change transactions' As e#plained under the heading Accounting for Operating Grants in the Special Revenue Funds section of this chapter$ and in Appendi# A$ an eligi(ilit- re;uirement$ incurrence of allo5a(le costs$ 5as not met in the period in 5hich notification occurred' Conse;uentl-$ no recognition of the grant is permitted until the period in 5hich ;ualif-ing e#pendituresEe#penses have (een incurred' b. In the period in 5hich e#penditures =e#penses at the government-5ide level> have (een made (- recipient programs$ e#penditures and revenues 5ill (e reported in the statement of revenues$ e#penditures$ and changes in fund (alances of the governmental funds' !epending on 5hich fund receives the grant revenues$ the- 5ill (e reported in either the General Fund column or as a special revenue fund' If the :uvenile programs are accounted for (- one or more special revenue funds$ e#penditures and revenues 5ill (e reported in a separate column of the governmental funds statement of revenues$ e#penditures$ and changes in fund (alances if the special revenue fund meets the criteria as a ma:or fund' If the fund does not meet the criteria as a ma:or fund$ its information 5ill (e reported along 5ith the information of all other nonma:or governmental funds in a single column$ (ut 5ould (e reported in a separate column of the com(ining statement of revenues$ e#penditures$ and changes in fund (alances prepared for all nonma:or governmental funds' "#penses and revenues 5ill (e reported in the Governmental Activities column of the government-5ide statement of activities' An important issue$ given the GAS* guidance ;uoted in the case$ is 5hether the grant reim(ursements should (e reported as program or general revenues in the statement of activities' GAS* resolved that issue in su(se;uent implementation guidance (- re;uiring that multipurpose grants$ such as the one descri(ed in this case$ (e reported as Operating Grants and Contributions of the appropriate programs or functions in the statement of activitiesi'e'$ as program revenues' The reason given is that programEfunction classification can (e readil- determined (ased on the programs for 5hich the e#penses 5ere initiall- incurred'

4-/

Solutions to "#ercises and ,ro(lems 4- ' The ans5ers 5ill differ from student to student$ since each has a different annual report' The instructor ma- 5ish to have copies made of good e#amples of statements$ charts$ graphs$ informative schedules$ and ta(les' Some class discussion of the different presentations found (- students is 5orth5hile' As a suggestion$ -ou ma- as? students to carefull- revie5 the government-5ide statement of net position and statement of activities and comment on the usefulness of those t5o statements' ' &' ). 4' .' a' c' d. d' b. +' /. 0' 3' 0' d' b' c. a. c'

4-&'

4-0

Ch' 4$ Solutions =ContAd>

4-3.

CITY OF HICKORY HILLS General Ledger Debits Credits General Fund: !C"#$R%!C S&'()4 !C"#$R%!C S O"TST%!DI!G&'()4 Encumbrances Ledger: G ! R%L GO/ R!# !T 1"$LIC S%F TY 1"$LIC 2ORKS C"LT"R %!D R CR %TIO! H %LTH %!D 2 LF%R #ISC LL%! O"S *+,-.(( *+,-.((

Subsidiary Ledger Debits Credits

a.

0'-*(( )40-,(( )3(-4(( .,-3(( .4-0(( )4-'((

b.

General Fund: !C"#$R%!C S O"TST%!DI!G&'()4 !C"#$R%!C S&'()4 Encumbrances Ledger: G ! R%L GO/ R!# !T 1"$LIC S%F TY 1"$LIC 2ORKS C"LT"R %!D R CR %TIO! H %LTH %!D 2 LF%R #ISC LL%! O"S 31 !DIT"R S&'()4 /O"CH RS 1%Y%$L Expenditures Ledger: G ! R%L GO/ R!# !T 1"$LIC S%F TY 1"$LIC 2ORKS C"LT"R %!D R CR %TIO! H %LTH %!D 2 LF%R #ISC LL%! O"S /O"CH RS 1%Y%$L C%SH

*+,-.(( *+,-.(( 0'-*(( )40-,(( )3(-4(( .,-3(( .4-0(( )4-'(( *+.-0*( *+.-0*( 03-,'( )4,-.4( )3)-)4( .0-,0( .3-.,( )4-3(( *+.-0*( *+.-0*(

4-3

Ch' 4$ Solutions$ 4-) =ContAd>

c.

T4e 5a6t t4at t4e a6tual 67st 75 t4ese g77ds is 8)-.*( 97re t4an t4e esti9ated 67st :4en t4e g77ds :ere 7rdered is 75 n7 67nse;uen6e- and 6ertainly d7es n7t indi6ate a budgetary 7r 9anage9ent <r7ble9. 1ri6es 75 g77ds 75ten 64ange 5r79 listed 7r ;u7ted <ri6es and s4i<<ing 64arges 6an =ary- de<ending 7n t4e 97de 75 s4i<9ent and rates at <arti6ular dates.

4-4. /illage 75 Darby a. Re=enues > le=y ? @.(3 3 le=yA > .., 3 le=y > 8'-++(-((( Le=y > 8'-++(-((( B .., > 8'-,4'-'+0 @r7unded t7 nearest d7llarA Rate 3 @assessed =aluati7n B )((A > le=y Rate > le=y B @assessed =aluati7n B )((A Rate > 8'-,4'-'+0 B )-3*,-)43 > 8'.(' <er 8)(( 75 assessed =aluati7n Debits Credits

b. T%3 S R C I/%$L &C"RR !T '-,4'-'+0 STI#%T D "!COLL CTI$L C"RR !T T%3 S 0'-'+0 R / !" S '-++(-((( c. C%SH T%3 S R C I/%$L &C"RR !T T%3 S R C I/%$L &D LI!C" !T T%3 S R C I/%$L &C"RR !T STI#%T D "!COLL CTI$L C"RR !T T%3 S STI#%T D "!COLL CTI$L D LI!C" !T T%3 S I!T R ST %!D 1 !%LTI S R C I/%$L STI#%T D "!COLL CTI$L I!T R ST %!D 1 !%LTI S R / !" S '-*4(-((( '-*4(-((( '('-'+0 '('-'+0 0'-'+0 0'-'+0 )'-)3+ )-')4 )(-.''

4- 0

Ch' 4$ Solutions =ContAd>

4-*. a.

City 75 Tr7y Cal6ulati7n 75 sti9ated Re;uired TaD %nti6i<ati7n Finan6ing 8'-*((-((( 03(-((( ,,(-((( )-)((-((( )-0,(-((( 8)-4+(-((( Debits )-4+(-((( Credits )-4+(-((( )-4+(-((( 43-0(( )-*(3-0(( )-4+(-((( 43-0(( )-*(3-0((

sti9ated D<enditure Re;uire9entsE $udgeted eD<enditures- re9ainder 75 FY '()4 Current liabilities <ayable sti9ated Res7ur6es %=ailableE Cas4 7n 4and- %<ril )- '()4 C7lle6ti7ns 75 budgeted FY '()4 re=enues and delin;uent <r7<erty taDes- in6luding interest and <enalties sti9ated %97unt 75 Re;uired TaD %nti6i<ati7n !7te Finan6ing b. General Fund and Governmental Activities: C%SH T%3 %!TICI1%TIO! !OT S 1%Y%$L c. General Fund: T%3 %!TICI1%TIO! !OT S 1%Y%$L 31 !DIT"R S&'()4 C%SH Governmental Activities: T%3 %!TICI1%TIO! !OT S 1%Y%$L 31 !S S&G ! R%L GO/ R!# !T C%SH @!7teE Interest 7n n7tes is 8)-4+(-((( 3 .(+ 3 +F)' >843-0((A

83-33(-(((

4-

Ch' 4$ Solutions =ContAd>

4.+.

CITY OF #%RSH%LL G ! R%L GO"R!%L Debits Credits General Fund: I!/ !TORY OF S"11LI S F"!D $%L%!C &!O!S1 !D%$L & I!/ !TORY OF S"11LI S General Fund: %11RO1RI%TIO!S STI#%T D OTH R FI!%!CI!G "S S STI#%T D R / !" S $"DG T%RY F"!D $%L%!C R / !" S F"!D $%L%!C &"!%SSIG! D 31 !DIT"R S OTH R FI!%!CI!G "S S

a.

)'-((( )'-(((

b.

+-''4-((( '-,,+-((( ,-..,-((( )-((3-((( ,-.0(-((( .0'-((( +-).'-((( '-,,(-(((

4.,. @)A #ay )- '()4

CITY OF S#ITHTO! G ! R%L GO"R!%L Debits D" FRO# ST%T GO/ R!# !T D F RR D R / !" S '((-((( '((-((( Credits

@!7teE T4ere are n7 eligibility re;uire9ents sti<ulated in t4e grant. T4us- t4e grant 6an be re67rded u<7n n7ti5i6ati7n. T4ere are- 47:e=er- ti9e re;uire9ents t4at 4al5 75 t4e grant is t7 be used in ea64 75 t4e '()* and '()+ 5is6al years. T4ere57re- re=enues 6ann7t be re67gniHed until t4e <eri7d 57r :4i64 use 75 t4e grant is intended.A @'A Guly )- '()4 C%SH D" FRO# ST%T GO/ R!# !T )((-((( )((-(((

4- &

Ch' 4$ Solutions$ 4-/$ =&> =ContAd>

Debits D F RR D R / !" S R / !" S @3A During FY '()* 31 !DIT"R S /O"CH RS 1%Y%$L @7r C%SHA @4A Guly )- '()* Sa9e entries as <art @'A. 4-0.a. General Fund: @)A STI#%T D R / !" S %11RO1RI%TIO!S $"DG T%RY F"!D $%L%!C Estimated Revenues LedgerE T%3 S LIC !S S %!D 1 R#ITS I!T RGO/ R!# !T%L R / !" #ISC LL%! O"S R / !" S Appropriations LedgerE G ! R%L GO/ R!# !T 1"$LIC S%F TY 1"$LIC 2ORKS H %LTH %!D 2 LF%R #ISC LL%! O"S 3.,-((( +'-((( )-.43-((( 3,'-((( 0)-((( '-,,4-((( '-+.3-((( .(-((( )((-(((

Credits )((-(((

.(-(((

CITY OF F%Y TT GO"R!%L !TRI S G ! R%L L DG R S"$SIDI%RY L DG R Debits Credits Debits Credits

4,)-((( 00+-((( +*(-((( +((-((( 0+-(((

4- )

Ch' 4$ Solutions$ 4-0$ a. =ContAd>

G ! R%L L DG R S"$SIDI%RY L DG R Debits Credits Debits Credits General Fund: @'A !C"#$R%!C S '()4 !C"#$R%!C S O"TST%!DI!G '()4 Encumbrances Ledger2014E G ! R%L GO/ R!# !T 1"$LIC S%F TY 1"$LIC 2ORKS H %LTH %!D 2 LF%R #ISC LL%! O"S General Fund: @3A T%3 S R C I/%$L C"RR !T STI#%T D "!COLL CTI$L C"RR !T T%3 S R / !" S Revenues LedgerE 1RO1 RTY T%3 S Governmental Activities: T%3 S R C I/%$L C"RR !T STI#%T D "!COLL CTI$L C"RR !T T%3 S G ! R%L R / !" S& 1RO1 RTY T%3 S )-.4(-((( +*-((( '-((*-((( )-.4(-((( +*-((( )-.4(-((( '-((*-((( *0-((( '*(-((( 3.'-((( )+(-((( ,)-((( .3)-((( .3)-(((

4- 4

Ch' 4$ Solutions$ 4-0$ a. =ContAd>

G ! R%L L DG R S"$SIDI%RY L DG R Debits Credits Debits Credits General Fund and Governmental Activities: @4A C%SH T%3 S R C I/%$L D LI!C" !T T%3 S R C I/%$L C"RR !T General Fund: @*A 31 !DIT"R S '()4 /O"CH RS 1%Y%$L Expenditures Ledger2014E G ! R%L GO/ R!# !T 1"$LIC S%F TY 1"$LIC 2ORKS H %LTH %!D 2 LF%R #ISC LL%! O"S Governmental Activities: 31 !S S&G ! R%L GO/ R!# !TI 31 !S S&1"$LIC S%F TY 31 !S S&1"$LIC 2ORKS 31 !S S&H %LTH %!D 2 LF%R /O"CH RS 1%Y%$L 43.-((( )-,*(-)(( 4''-)(( +3*-((( '*4-((( 4))-((( +3*-((( '*4-((( 43.-((( ))-)(( )-,*(-)(( )-,*(-)(( )-4*.-((( )3'-((( )-*.)-(((

I#is6ellane7us ite9s are in6luded in General G7=ern9ent

4- .

Ch' 4$ Solutions$ 4-0$ a. =ContAd>

G ! R%L L DG R S"$SIDI%RY L DG R Debits Credits Debits Credits General Fund: @+A !C"#$R%!C S O"TST%!DI!G&'()3 !C"#$R%!C S&'()3 Encumbrances Ledger 201 E 1"$LIC S%F TY 31 !DIT"R S '()3 31 !DIT"R S '()4 /O"CH RS 1%Y%$L Expenditures Ledger 2014: 1"$LIC S%F TY Expenditures Ledger 201 E 1"$LIC S%F TY Governmental Activities: 31 !S S&1"$LIC S%F TY /O"CH RS 1%Y%$L )4-4,( )4-4,( )4-((( 4,( )4-((( 4,( )4-4,( )4-((( )4-((( )4-(((

4- +

Ch' 4$ Solutions$ 4-0$ a. =ContAd>

G ! R%L L DG R S"$SIDI%RY L DG R Debits General Fund: @,A !C"#$R%!C S& O"TST%!DI!G '()4 !C"#$R%!C S '()4 Encumbrances Ledger2014: G ! R%L GO/ R!# !T 1"$LIC S%F TY 1"$LIC 2ORKS H %LTH %!D 2 LF%R #ISC LL%! O"S 31 !DIT"R S '()4 /O"CH RS 1%Y%$L Expenditures Ledger2014: G ! R%L GO/ R!# !T 1"$LIC S%F TY 1"$LIC 2ORKS H %LTH %!D 2 LF%R #ISC LL%! O"S *'-,(( '3+-'(( 3+(-((( )3(-+(( ,)-((( 0*(-*(( 0*(-*(( *'-'(( '4(-.(( 3*,-((( )3(-)(( ,)-((( 0*)-'(( 0*)-'(( Credits Debits Credits

4- /

Ch' 4$ Solutions$ 4-0$ a. =ContAd>

G ! R%L L DG R S"$SIDI%RY L DG R Debits Governmental Activities: 31 !S S&G ! R%L GO/ R!# !T 31 !S S&1"$LIC S%F TY 31 !S S&1"$LIC 2ORKS 31 !S S&H %LTH %!D 2 LF%R /O"CH RS 1%Y%$L General Fund: @0A C%SH R / !" S Revenues LedgerE LIC !S S %!D 1 R#ITS I!T RGO/ R!# !T%L R / !" #ISC LL%! O"S R / !" S Governmental Activities: C%SH 1ROGR%# R / !" S& G ! R%L GO/ R!# !T& CH%RG S FOR S R/IC S 1ROGR%# R / !" S& 1"$LIC S%F TY& O1 R%TI!G GR%!TS %!D CO!TRI$"TIO!S G ! R%L R / !" S& #ISC LL%! O"S ++-((( 4((-((( 3,3-((( 03.-((( 3,3-((( 4((-((( ++-((( 03.-((( 03.-((( )3(-+(( 0*(-*(( )'3-,(( '3+-'(( 3+(-((( Credits Debits Credits

4- 0

Ch' 4$ Solutions$ 4-0$ a. =ContAd>

G ! R%L L DG R S"$SIDI%RY L DG R Debits General Fund and Governmental Activities: @.A /O"CH RS 1%Y%$L C%SH '-*(*-((( '-*(*-((( Credits Debits Credits

!7teE T4e G7=ern9ental %6ti=ities ledger is n7t s47:n 4ere. CITY OF F%Y TT G ! R%L F"!D R / !" L DG R @!OT R C"IR DA STI#%T D R / !" S @)A @3A @)A @0A @)A @0A @)A @0A )-.43-((( )-.4(-((( LIC !S S %!D 1 R#ITS 3,'-((( 3,3-((( I!T RGO/ R!# !T%L R / !" 3.,-((( 4((-((( #ISC LL%! O"S R / !" S +'-((( ++-((( R / !" S T%3 S )-.4(-((( 3-((( 3,'-((( @)-(((A 3.,-((( @3-(((A +'-((( @4-(((A $%L%!C Debit @CreditA

4- 3

Ch' 4$ Solutions$ 4-0$ a. =ContAd>

G ! R%L F"!D %11RO1RI%TIO!SF !C"#$R%!C SF 31 !DIT"R S L DG R @!OT R C"IR DA %/%IL%$L TR%!S%CTIO! %11RO1RI%TIO! ) ' * , ) ' * + , ) ' * , ) ' * , ) ' * , !C"#$R%!C 31 !DIT"R $%L%!C

G ! R%L GO/ R!# !TJJJJJJJJJJJJJJJJJJJJJJJ 4,)-((( 4,)-((( *0-((( 4)3-((( 4))-((( '-((( @*'-'((A *'-,(( )-*(( 00+-((( 1"$LIC S%F TYJJJJJJJJJJJJJJJJJJJJJJJJJ 00+-((( '*(-((( +3+-((( +3*-((( )-((( @!7te %A 4,( *3( @'4(-.((A '3+-'(( *-'3( 1"$LIC 2ORKSJJJJJJJJJJJJJJJJJJJJJJJJJ +*(-((( 3.'-((( '*0-((( '*4-((( 4-((( @3*,-(((A 3+(-((( )-((( H %LTH %!D 2 LF%R JJJJJJJJJJJJJJJJJJJJJ +((-((( )+(-((( 44(-((( 43.-((( )-((( @)3(-)((A )3(-+(( *(( #ISC LL%! O"S 0+-((( ,)-((( @,)-(((A JJJJJJJJJJJJJJ 0+-((( )*-((( ))-)(( 3-.(( ,)-((( 3-.((

+*(-(((

+((-(((

!7te %E T4e 1ubli6 Sa5ety a667unt s47:n 4ere is 57r '()4. In additi7n- a 6redit 75 8)4-((( :7uld be 9ade t7 t4e 1ubli6 Sa5ety subsidiary a667unt 57r '()3- at :4i64 ti9e t4at a667unt :7uld be <la6ed in t4e Kdead 5ileL :it4 7t4er '()3 subsidiary a667unts t4at 4ad been retired at t4e end 75 t4at 5is6al year.

4-&0

Ch' 4$ Solutions$ 4-0 =ContAd>

b.

CITY OF F%Y TT G ! R%L F"!D $"DG T%RY CO#1%RISO! SCH D"L FOR TH Y %R !D D D C #$ R 3)- '()4 $"DG T @ORIGI!%L %!D FI!%LA /%RI%!C 2ITH FI!%L $"DG T O/ R @"!D RA 8 @3-(((A )-((( 3-((( 4-((( *-((( @)-*((A @*-'3(A @)-(((A @*((A @3-.((A @)'-)3(A ),-)3( +*-0(( 0'-.3( - (8 0'-.3(

%CT"%L % 8)-.4(-((( 3,3-((( 4((-((( ++-((( '-,,.-((( 4+.-*(( 00(-,,( +4.-((( *..-*(( 0'-)(( '-+0(-0,( .0-)3( +*-0(( )+3-.3( .+-.(( 8 '+(-03(

R / !" SE T%3 S LIC !S S %!D 1 R#ITS I!T RGO/ R!# !T%L R / !" #ISC LL%! O"S R / !" S TOT%L R / !" S 31 !DIT"R S @$"DG T $%SISAE G ! R%L GO/ R!# !T 1"$LIC S%F TY 1"$LIC 2ORKS H %LTH %!D 2 LF%R #ISC LL%! O"S TOT%L 31 !DIT"R S 3C SS OF R / !" S O/ R 31 !DIT"R S I!CR %S I! !C"#$R%!C S O"TST%!DI!G$ I!CR %S I! F"!D $%L%!C S F"!D $%L%!C S- )F) F"!D $%L%!C S- )'F3) -(0)-((( .+-.(( 8 ),,-.(( 0)-((( 4,)-((( 00+-((( +*(-((( +((-((( 0+-((( '-+.3-((( 8)-.43-((( 3,'-((( 3.,-((( +'-((( '-,,4-(((

Ch' 4$ Solutions$ 4-0$ b. =ContAd>

4-&

!OT SE
%

T4e a6tual eD<enditures in t4is state9ent in6lude en6u9bran6es 75 '()4

a<<r7<riati7ns 7utstanding at year-end- but d7 n7t in6lude t4e eD<enditures 75 t4e '()3 a<<r7<riati7ns re67rded in ntry +.
$

Fund balan6es d7 n7t in6lude en6u9bran6es. T4ere57re- t4e 8,.-0(( 75

en6u9bran6es t4at :ere in6luded as <art 75 a6tual eD<enditures 57r budgetary 679<aris7n <ur<7ses 9ust be added ba6M t7 ensure t4ey d7 n7t a55e6t 5und balan6es. H7:e=er- 8)4-((( 75 t4e eD<enditures 9ade during t4e year 57r g77ds re6ei=ed in '()4 t4at :ere 7rdered in '()3 :ere re<7rted as eD<enditures 75 t4e 6urrent year 57r G%%1 <ur<7ses and t4ere57re redu6ed 5und balan6es by t4at a97unt. T4us- t4e 64ange in 5und balan6es 9ust be adNusted 57r t4at a97unt as :ell.

4-.. a. ). General FundE 31 !DIT"R S C%SH

CITY OF %T2%T R Debits )((-((( )((-((( Credits

Governmental Activities: 31 !S S&1"$LIC S%F TY C%SH Enterprise FundE C%SH R / !" S '. General Fund: C%SH 31 !DIT"R S Governmental ActivitiesE% C%SH 31 !S S&G ! R%L GO/ R!# !T

)((-((( )((-((( )((-((( )((-(((

*(( *(( *(( *((

!7te %E T4ere is n7 business-ty<e a6ti=ities ledger sin6e t4e g7=ern9ent-:ide data :ill be t4e sa9e as t4at 75 t4e enter<rise 5und.

4-&&

Ch' 4$ Solutions$ 4-3$ a. =ContAd>

Debits Enterprise Fund: S"11LI S 31 !S C%SH 3. General FundE I!T RF"!D LO%!S R C I/%$L & !O!C"RR !T C%SH F"!D $%L%!C &"!%SSIG! D F"!D $%L%!C &!O!S1 !D%$L & !O!C"RR !T I!T RF"!D LO%!S R C I/%$L Governmental Activities: !O FF CT !nternal "ervice Fund: C%SH I!T RF"!D LO%!S 1%Y%$L & !O!C"RR !T 4. General FundE OTH R FI!%!CI!G "S S&I!T RF"!D TR%!SF RS O"T C%SH Governmental Activities: !O FF CT #ebt "ervice FundE C%SH OTH R FI!%!CI!G SO"RC S& I!T RF"!D TR%!SF RS I! )((-((( *(-((( *((

Credits

*((

*(-((( *(-((( *(-((( *(-(((

*(-(((

)((-((( )((-(((

)((-(((

4-&)

Ch' 4$ Solutions$ 4-3$ a. =ContAd>

Debits *. General FundE C%SH OTH R FI!%!CI!G SO"RC S& I!T RF"!D TR%!SF RS I! Governmental Activities: !O FF CT $apital %ro&ects Fund: OTH R FI!%!CI!G "S S& I!T RF"!D TR%!SF RS O"T C%SH b. *-(((

Credits

*-(((

*-((( *-(((

1r7<rietary 5unds- su64 as t4e enter<rise 5und- 9easure t7tal e67n79i6 res7ur6es using t4e a66rual basis 75 a667unting. Sin6e t4is is t4e sa9e 9easure9ent 576us and basis 75 a667unting used at t4e g7=ern9ent-:ide le=el- t4ere :7uld be n7 di55eren6e bet:een entries in t4e enter<rise 5und and a business-ty<e a6ti=ities N7urnal. !7te t4at alt47ug4 t4e internal ser=i6e 5unds are <r7<rietary 5unds 576using 7n t7tal e67n79i6 res7ur6es using t4e a66rual basis 75 a667unting- t4ey are 679bined :it4 g7=ern9ental a6ti=ities i5 t4ey <red79inantly <r7=ide ser=i6es t7 de<art9ents :it4in t4e g7=ern9ent rat4er t4an t7 enter<rise 5unds.

4-&4

Ch' 4$ Solutions =ContAd>

4-)(. a.

CITY OF HI!TO! GO"R!%L !TRI S FY '()4 Debits Credits

General Fund: @)A STI#%T D R / !" S %11RO1RI%TIO!S $"DG T%RY F"!D $%L%!C General Fund: @'A C%SH 31 !DIT"R S '()4 T%3 %!TICI1%TIO! !OT S 1%Y%$L
@CO#1"T%TIO! OF DISCO"!TE 8*((-((( 3 .(+ 3 )F3 Y %R > 8)(-(((.A

3-)4(-((( 3-)((-((( 4(-(((

4.(-((( )(-((( *((-(((

Governmental Activities: C%SH 31 !S S&G ! R%L GO/ R!# !T T%3 %!TICI1%TIO! !OT S 1%Y%$L 4.(-((( )(-((( *((-(((

4-&.

Ch' 4$ Solutions$ 4- 0$ a. =ContAd>

Debits General Fund: @3A T%3 S R C I/%$L C"RR !T STI#%T D "!COLL CTI$L C"RR !T T%3 S R / !" S '-)*(-(((

Credits

+4-*(( '-(0*-*((

@CO#1"T%TIO!SE 843-(((-((( %SS SS D /%L"%TIO! 3 8* T%3 R%T 1 R 8)(( > 8'-)*(-((( GROSS L /YO 8'-)*(-((( GROSS L /Y 3 .(3 > 8+4-*(( STI#%T D "!COLL CTI$L .A

Governmental ActivitiesE T%3 S R C I/%$L C"RR !T STI#%T D "!COLL CTI$L C"RR !T T%3 S G ! R%L R / !" S&1RO1 RTY T%3 S General Fund: @4A !C"#$R%!C S '()4 !C"#$R%!C S O"TST%!DI!G '()4 General Fund and Governmental Activities: @*A T%3 S R C I/%$L C"RR !T @8*((-((( 3 8* 1 R 8)(( OF /%L"%TIO!A General Fund and Governmental Activities: @+A C%SH T%3 S R C I/%$L C"RR !T T%3 S R C I/%$L D LI!C" !T I!T R ST %!D 1 !%LTI S R C I/%$L
Ch' 4$ Solutions$ 4- 0$ a. =ContAd>

'-)*(-((( +4-*(( '-(0*-*((

'-(+(-((( '-(+(-(((

'*-((( '*-(((

R / !" S @General Re=enues in G7=ern9ental %6ti=itiesA

'-3+4-04( )-.+)-((( 303-',( '(-*,(

4-&+

Debits General FundE @,A I!T R ST %!D 1 !%LTI S R C I/%$L STI#%T D "!COLL CTI$L I!T R ST %!D 1 !%LTI S R / !" S Governmental ActivitiesE I!T R ST %!D 1 !%LTI S R C I/%$L STI#%T D "!COLL CTI$L I!T R ST %!D 1 !%LTI S G ! R%L R / !" S&I!T R ST %!D 1 !%LTI S O! D LI!C" !T T%3 S General Fund: @0A $"DG T%RY F"!D $%L%!C STI#%T D R / !" S
$"DG T%RY F"!D $%L%!C TO % ! T D CR %S OF 84(-(((.A

Credits

30-43( ))-*'. '+-.() 30-43( ))-*'. '+-.()

0(-((( 0(-(((

@THIS !TRY %DG"STS TH ORIGI!%L $"DG T%RY I!CR %S OF 84(-((( I!

General Fund: @.A 31 !DIT"R S '()4 D" TO F D R%L GO/ R!# !T D" TO ST%T GO/ R!# !T C%SH Governmental Activities: 31 !S S @5un6ti7n details 79ittedA D" TO F D R%L GO/ R!# !T D" TO ST%T GO/ R!# !T C%SH 0).-4.( )++-4(( 34-4(( +)0-+.( 0).-4.( )++-4(( 34-4(( +)0-+.(

4-&/

Ch' 4$ Solutions$ 4- 0$ a. =ContAd>

Debits General Fund: @)(A 31 !DIT"R S '()4 D" TO F D R%L GO/ R!# !T Governmental Activities: 31 !S S @5un6ti7n details 79ittedA D" TO F D R%L GO/ R!# !T General Fund: @))A C%SH R / !" S Governmental Activities: C%SH R / !" S @ite9iHe as <r7gra9 7r general and by s7ur6eA General Fund and Governmental Activities: @)'A D" TO F D R%L GO/ R!# !T D" TO ST%T GO/ R!# !T /O"CH RS 1%Y%$L General Fund: @)3A !C"#$R%!C S O"TST%!DI!G '()4 !C"#$R%!C S '()4 31 !DIT"R S '()4 /O"CH RS 1%Y%$L Governmental Activities: 31 !S S @5un6ti7n details 79ittedA /O"CH RS 1%Y%$L )-.0,-*,( )-.0,-*,( )-.00-(4( '00-*0( 34-4(( .4,-((( .4,-((( +'-+.( +'-+.(

Credits

+'-+.(

+'-+.(

.4,-(((

.4,-(((

3''-.0(

)-.00-(4(

)-.0,-*,(

)-.0,-*,(

4-&0

Ch' 4$ Solutions$ 4- 0$ a. =ContAd>

Debits '-3()-++(

Credits

General Fund: @)4A /O"CH RS 1%Y%$L C%SH 31 !DIT"R S '()4 Governmental Activities: /O"CH RS 1%Y%$L C%SH 31 !S S @5un6ti7n detail 79ittedA General Fund and Governmental Activities: @)*A T%3 %!TICI1%TIO! !OT S 1%Y%$L C%SH General Fund and Governmental Activities: @)+A T%3 S R C I/%$L &D LI!C" !T T%3 S R C I/%$L &C"RR !T STI#%T D "!COLL CTI$L T%3 S STI#%T D "!COLL CTI$L D LI!C" !T T%3 S General Fund: @),A I!/ !TORY OF S"11LI S F"!D $%L%!C &!O!S1 !D%$L & I!/ !TORY OF S"11LI S Governmental Activities: I!/ !TORY OF S"11LI S 31 !S S @Fun6ti7n details 79ittedA 3-((( 3-((( 3-((( 3-((( +4-*(( C"RR !T +4-*(( ')4-((( ')4-((( *((-((( *((-((( '-3()-++( '-'.3-+3( 0-(3( '-'.3-+3( 0-(3(

4-&3

Ch' 4$ Solutions$ 4- 0 =ContAd>

Debits b. CLOSI!G !TRI S- %1RIL 3(- '()4 General Fund: %11RO1RI%TIO!S STI#%T D R / !" S $"DG T%RY F"!D $%L%!C R / !" S 31 !DIT"R S&'()4 F"!D $%L%!C &"!%SSIG! D Governmental Activities: 3-(04-4() 3-)((-(((

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3-(+(-((( 4(-(((

'-0,)-,'( ')'-+0)

@!7t 6l7sed 4ere sin6e t4e g7=ern9ental a6ti=ities general ledger in6ludes 7<erating state9ent transa6ti7ns related t7 all g7=ern9ental 5unds- n7t Nust t47se 75 t4e General Fund. See C4a<ter . 57r an eDa9<le 75 6l7sing t4e g7=ern9ental a6ti=ities te9<7rary a667unts.A

4-)0

Ch' 4$ Solutions$ 4- 0 =ContAd>

c. CITY OF HI!TO! G ! R%L F"!D $%L%!C SH %S OF %1RIL 3(- '()4 %SS TS C%SH T%3 S R C I/%$L D LI!C" !T L SSE STI#%T D "!COLL CTI$L T%3 S D LI!C" !T I!T R ST %!D 1 !%LTI S R C I/%$L L SSE STI#%T D "!COLL CTI$L I!T R ST %!D 1 !%LTI S I!/ !TORY OF S"11LI S TOT%L %SS TS LI%$ILITI S %!D F"!D $%L%!C S LI%$ILITI SE /O"CH RS 1%Y%$L F"!D $%L%!C SE !O!S1 !D%$L &I!/ !TORY OF S"11LI S "!%SSIG! D TOT%L F"!D $%L%!C S TOT%L LI%$ILITI S %!D F"!D $%L%!C S 8 ).-)(( *)(-0)) *'.-.)) 8 +0,-3() 8)*,-3.( ''-+0. ')-4*) ).-)(( 8 +0,-3() '*3-*(( 44-)4( )+(-'3( 84)3-,3( 8 40+-*'( T

4-)

Ch' 4$ Solutions$ 4- 0 =ContAd>

d.

CITY OF HI!TO! G ! R%L F"!D ST%T # !T OF R / !" S- 31 !DIT"R S- %!D CH%!G S I! F"!D $%L%!C FOR TH Y %R !D D %1RIL 3(- '()4

R / !" S T%3 S I!T R ST %!D 1 !%LTI S O! T%3 S OTH R SO"RC S TOT%L R / !" S 31 !DIT"R S S%L%RI S %!D 2%G S I!T R ST O! !OT 1%Y%$L OTH R TOT%L 31 !DIT"R S 3C SS OF R / !" S O/ R 31 !DIT"R S I!CR %S I! I!/ !TORY OF S"11LI S F"!D $%L%!C S- #%Y )- '()3 F"!D $%L%!C S- %1RIL 3(- '()4 C79<utati7nsE TaDes > P4-10(3) '-(0*-*(( Q 4-10(5) '*-(((R Interest and 1enalties 7n TaDes > P4-10(7) '+-.()R Ot4er S7ur6es > P4-10(11) .4+-,((R Salaries and 2ages > P4-10(9) 0).-4.( Q 4-10(10) +'-+.(R Interest 7n !7tes 1ayable > P4-10(2) 8)(-(((R Ot4er > P4-10(13) )-.0,-*,( - 4-10(14) 0(3(R 00'-)0( )(-((( )-.,.-*4( '-0,)-,'( ')'-+0) 3-((( 3)4-'3( 8 *'.-.)) 8'-))(-*(( '+-.() .4,-((( 3-(04-4()

4-)&

Ch' 4$ Solutions$ 4- 0$ d. =ContAd>

!OT E T4e G7=ern9ental %6ti=ities general ledger is n7t s47:n 4ere.

CITY OF HI!TO! General Fund General Ledger @!7t Re;uiredA *F)F'()3 $al. 4-)(@'A 4-)(@+A 4-)(@))A 4F3(F'()4 $al. 4-)(@3A 4-)(@*A 4F3(F'()4 $al. Cas4 .,-((( 4.(-((( '-3+4-04( .4,-((( 40+-*'( st. "n67lle6tible Interest S 1enalties J *F)F'()3 $al. ))-)+( 4-)(@,A ))-*'. 4F3(F'()4 $al. ''-+0. 4-)(@.A 4-)(@)*A +)0-+.( *((-((( Interest and 1enalties Re6.__ ____ *F)F'()3 $al.'+-'0( 4-)(@+A '(-*,( 4-)(@,A 30-43( 4F3(F'()4 $al 44-)4(

4-)(@)4A '-'.3-+3(

TaDes Re6ei=able Current '-)*(-((( 4-)(@+A )-.+)-((( '*-((( -(4-)(@)+A ')4-(((

4-)(@)+A

st. "n67lle6tible Current TaDes +4-*(( 4-)(@3A +4-*(( 4F3(F'()4 $al. -(-

In=ent7ry 75 Su<<liesJJJJJJJJJ *F)F'()3 $al.)+-)(( 4-)(@),A 3-((( 4F3(F'()4 $al. ).-)((

TaDes Re6ei=able Delin;uent *F)F'()3 $al. *03-((( 4-)(@+A 303-',( 4-)(@)*A 4F3(F'()4 $al. ')4-((( 4)3-,3(

st. "n67lle6tible Delin;uent TaDes *F)F'()3 $al.)0.-((( 4-)(@)+A +4-*(( 4F3(F'()4 $al. '*3-*((

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