Financial statements for the Building Maintenance Fund, an internal service fund of Coastal City, are reproduced here. No further information about the nature or purposes of this fund is given in the annual report.

Required
a. Assuming that the Building Maintenance Fund is an internal service fund, discuss whether the financial information is presented in accordance with GASB standards.
b. If you were the manager of a city department that uses the services of the Building Maintenance Fund, what would you want to know in addition to the information disclosed in the financial statements?

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COASTAL CITY BUILDING MAINTENANCE FUND Balance Sheet As of December 31, 2017 Assets Assets: Cash and investments Accounts receivable Inventory Prepaid expenditures $452,879 2,116 479,000 Total assets $953,849 Liabilities and Fund Equity Liabilities: Accounts payable Other accrued liabilities Accrued annual leave $35,675 109,099 227,369 372,143 Total liabilities Fund equity Fund balance-unspendable Fund balance-unrestricted 479,000 102,706 $953,849 Total liabilities and fund equity COASTAL CITY BUILDING MAINTENANCE FUND Statement of Revenues, Expenditures, and Changes in Fund Balance Year Ended December 31, 2017 Revenues: Billings to departments $10,649,781 161,396 125,000 10,936,177 Other fin ancing sources-Interfund Transfers In Total revenues Expenditures: Salaries and employee benefits Supplies Capital leases Operating services and charges Maintenance and repairs Bad debts 3,353,413 3,409,096 59,302 495,143 3,536,443 1.750 10.855.147 81,030 500,676 $ 581,706 Total expenditures Excess of revenues over expenditures Fund balance-January 1, 2017 Fund balance-December 31, 2017