The City of Coyote mailed property tax bills for 2009 to its citizens during August 2008. Payments could be made early to receive a discount. The levy becomes legally enforceable on February 15, 2009. All money received must be spent during 2009 or later. The total assessment is $300,000, and 40 percent of that amount is collected in 2008 less a 10 percent discount. The city expects to receive all the rest of the money during 2009 with no discount. During 2008, the government increased cash and a revenue for the amount received. In addition, a receivable account and a deferred revenue account for $180,000 were recognized.

a. In the general information, an overall increase in the city’s net assets of $150,000 was found on the government-wide financial statements. What was the correct overall change in the city s net assets as reported on the government-wide financial statements? LO9

b. In the general information, an overall increase of $30,000 was reported in the General Fund bal¬ ance. What was the correct change during 2008 in the General Fund’s balance?