1. The City of Madison, a general purpose government, reported fund balances in the amount of

$19,700,000 in the governmental funds balance sheet dated December 31, 2015. In addition, the following information is relevant.

General government capital assets amounted to $28,000,000. Accumulated depreciation of those capital assets amounted to $13,000,000. Enterprise fund capital assets amounted to $17,000,000 with accumulated depreciation of $8,400,000.

Internal service fund's net assets amounted to $2,500,000. These were reported in the proprietary funds fund basis statements but serve departments in the General Fund.

Property Taxes, which should be recognized as revenue in the government-wide statements, amounted to $200,000. The balance of deferred inflows - property taxes from the previous year was

$170,000.

Liabilities, in addition to the amount reported in the governmental funds balance sheet included accrued interest payable, $300,000 .

General long-term liabilities of the government amounted to ( 1) general obligation bonds of

$6,000,000 and (2) compensated absences payable of $1,500,000 . Revenue Bonds Payable in the enterprise fund totaled $2,000,000.

Required:

Prepare a reconciliation from the fund balances recognized in the governmental funds balance sheet to the Net Position recognized in the governmental funds column of the government-wide statement of Net Position .