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Posted on Sep 06, 2024

8C PT 3-6: All statements and information provided. All numbers are correct that are submitted in this question: 3. Prepare, in good form, a Statement

8C PT 3-6: All statements and information provided. All numbers are correct that are submitted in this question:

3. Prepare, in good form, a Statement of Activities for the City of Monroe for the Year Ended December 31, 2017. For purposes of this statement, assume:

$332,000 in the General Fund is a state grant specifically to support general government programs.
$1,065,000 in the Street and Highway Fund is an operating grant specifically for highway and street maintenance expenses.
$1,340,000 in the City Jail Construction Fund is a capital grant that applies to public safety.

Use the balances computed from the worksheet completed in part 2 for the governmental activities portion of the statement. Use the solution to P6C (Enterprise fund) to prepare the business activities portion (net any short-term interfund payables/receivables). 4. Prepare, in good form, a Statement of Net position for the City of Monroe as of December 31, 2017. Group all capital assets, net of depreciation. Include a breakdown in the Net position section for (a) capital assets, net of related debt, (b) restricted, and (c) unrestricted. For purposes of classifying net position for the governmental activities, assume:

For the governmental activities net position invested in capital assets, net of related debt, the related debt includes the bonds payable, the premium on bonds payable, and the advance from the water utility fund.
The special revenue fund resources are restricted by the granting agency for street and highway maintenance. Assume $204,500 are the only restricted resources in the governmental activities.

5. Prepare the reconciliation necessary to convert from the fund balance reported in the governmental funds Balance Sheet to the net position in the government-wide Statement of Net position. 6. Prepare the reconciliation necessary to convert from the change in fund balances in the governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the change in net position in the government-wide Statement of Activities. image text in transcribed

Govern- Balances for G de Go und me Account Titles: Adiustments & Eliminations Debits Adiusted Internal Service Funds Stmts Ref Debits Credits Credits Debits Credits A Capital Asts DEBITS 64.200.000 Depreciation 35,000 M 097120 25 500 000 Cash with Fiscal Agent Nat Boeition Investments Taxes Receivable, net 259.000 259,000 259.000 xB Capital Asset 5,823,100 262,000 262,000 Expenditure- Capital Outlay 5,823,100 Inventories Due from State Govt M 37.540 659.000 37.540 559.000 Depreciation expense 4,900,000 559,000 11200 148,000 Accumulated Denrecation 4,900,000 Funds 3,200 Capital Assets both rows 70.171.100 70.023.100 M 64200,000 5.823.100 Other financing Sources Proceeds B D Bonds 4,000,000 200,000 Other - Premium o Bonds Expenditures (expensee) Current Bond Puvable. 4,000,000 1,646,900 1,240 1,646,900 General Govt. 1,645,660 Premium on bond payable 200,000 3,0 2481 900 Highway and Streets x E Net Pesition 12.000,000 591,400 100 591400 Other Financing Sources bonds Sanitation 501,400| 12,000,000 00 34 200 xF Bond Payable 800.000 re Culture and Recreation Expenditure on debt service principal 917.300 917,300 917.300 800,000 Obea C AUSnces Exp - Debt Service Principal nterest (expenditurelexpense) 42,000 42,000 42000 XG Interest Expense xpenses) 328,000 Accrued Interest Payable 328.000 800,000 514.000 800,000 10,000 328,000 652000 652.000 G XH Net position 180,000 Canital Qutlay Depreciation Other Fin. Uses- Transfers Out 5 823 100 B 5,823,100 Interest Expense 180,000 4,900,000 C 1.871.700 4.900,000 4,900.000 xI Premin 10,000 1.871,700 1.871,700 Interest Exnense 10.000 Total Debits 21.454.170 88,289,770 XJ Defer 10,500 CREDITE ned intiows property Taxes taxes 326,800 40.200 Accounts Pa Due to Other Funds 19,400 M 326,800 40.200 328,000 346.200 37.000 28.000 10.500 N 3,200 Revenues- property taxes Net Position 21.000 K a erest Payable 21,000 both rows 800,000 3,200,000 3,200.000 190.000 200,000 D Compensation Ahsence Expense Premium an Bonds 190,000 42,000 10.000 Compensation Absence Payable 42,000 42.000 42,000 42000 15,000 M d M Cash Deferred Inflows: Property Taxes Accumulated Depreciation 10 50 35,000 10.500 33.614.600 Due from other funds. Supplies 28,700,000 A 4,900,000 14,600 M 11,200 33.600,000 Ows Revenues Property Taxes axes Interest 148.000 Canital asset 6,647,000 6,657,500 291200 K 21.000 10,500 6.647.000 Accumulated Depreciation 14,600 29 22000 duance in Water Utlity 21 220 15 000 800,000 800.000 Licenses & Permits 800,000 Net position 182,740 State Grant for Highway Street Expenses Capital Grant- Gen Gov't Capital Grant- Public Safety 1.065.000 106500 332.000 1.065.000 3.200 Due to other funds xN Due from ether funds 332,000 1.340,000 332000 3,200 1.340,000 1.340.000 Net Position 1 240 X o Expenditure General Governmen 1.240 Proconih Sources Premium on Bonds Transfors In 12000,000 12.000.000 Other Financing Sources- Transfer Ir Other Fin, Uses- Transfers Qut 1.871.700 4.000.000 D 200,000 1871.700 4,000,000 200,000 12.000.000 1871,700 1.871.700 PI 1,871,700 1,240 21,000 35500,000 A 182,740 M 180.000 12.000,000 beginning of yoar three rows 1497,250 21 454 170 24 250 25.019.750 88.289.770 Total Credits Program Revenues Net (Expense) Revenue and Change in Net Position perational apital Business-Type Grants and Governmental Charges for Grants and Contributions Contributions Activities Activities Expenses Services Total Functions/Programs Governmental Activities: General Government S Public Safety S Highways and Streets S Sanitation ealth S - Welfare S - Culture and Recreation S - Compensation Absence -S Interest S 145,500 282,000 145,500 282,000 Depreciation Total Governmental Activities 427,500 427,500 Business Type Activities Water and Sewer 15,000 15,000 S Total Government S $ 442,500 442,500 General Revenues es: |Property Taxes Sales Taxes Interest - licenses and Permits Miscellaneous Total General Revenues Change in Net Position Net Position, Beginning Net Position, Ending 442,500 442,500 -IS S 442,500 442,500 should be the answer 23,106,410 (101,858,340) Business-Type Governmental Activities Total Activities Assets Cash $ Cash with Fiscal Agents S S Investments Accounts Receivable (Net) S S Taxes Receivable (Net) Interest Receivable Internal Balances Current S S Due from Other Governments Inventories S Internal Balances Long-Term S Restricted Assets S Capital Assets, Net of Accumulated Depreciation Total Assets Liabilities Accounts Payable Payroll Taxes Payable Accrued Interest Payable Revenue Bonds Payable General Obligation Bonds Payable Premium on Bonds Sold Compensated Absences Payable Total Liabilities Net Position Net Investment in Capital Assets Restricted Unrestricted Total Net Position S CITY OF MONROE Reconciliation of the Balance Sheet of Governmental Funds the Statement of Net Position As of December 31, 2017 Fund balances reported in governmental funds Balance Sheet 5C Amounts reported for governmental activities in the Statement of Net Position are different because: Capital assets used in governmental activities are not financial resources and therefore not reported in the funds. Amount does not include capital assets of internal service funds (reported in following row). The assets and liabilities of internal service funds are included in governmental funds in the Statement of Net Position. Deferred revenue for property taxes reported in the funds but accrued as revenue in the government-wide statements and added to Net Position. Accrued interest payable is reported as a liability the Statement of Activities; interest is not acerued in the governmental funds. Bonds payable, not due and payable in the current period are not reported the funds. Compensated absences, not due and payable in the current period are not reported in the funds. Net Position of Governmental Activities 23,106,410 CITY OF MONROE Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balance to the Statement of Activities For the year ended December 31, 2017 Net change in fund balances - Governmental funds 5C Amounts reported for governmental activities in the Statement of Activities are different because: Governmental funds report capital outlays as expenditures rather than assets Governmental funds do not report depreciation expense The net revenue of internal service funds is not reported with the governmental funds Property taxes due more than 60 days after year end not accrued n the governmental funds. Bond proceeds are reported as other financing sources in the governmental funds but as liabilities in the government-wide statements Repayment of bonds is reported as an expenditure in the governmental funds Interest is not accrued at year end in the governmental funds. Increases in compensated absences, not due and payable in the current period are not reported in the funds. (101,858,340 Change in Net Position of Governmental Activities CITY OF MONROE Balance Sheet for the Governmental Funds As of December 31, 2017 Total City Jail Debt Service Street and City Hall Debt Service General Governmental Highway Funds Assets 9,700S 545,900 $ $ Cash 102,120 S 657,720 360,000 Cash with Fiscal Agent 928,000 568,000 200,000 Investments 59,000 259,000 Taxes Reveivable (net) 262,000 262,000 F Interest &Penalties Receivable (net) 16,850 16,850 384,000 Due from State Government 175,000 559,000 336,120$ 569,700 $ 2,682,570 568,000 $ Total Assets 1,208,750 Liabilities, Deferred Inflows and Fund Balance Liabilities Accounts Payable 200,300 126,500 326,800 Due to Other funds 40,200 40,200 126,500$ 0 $ $ 367,000 Total Liabilities 240,500 Deferred Inflows Property Taxes 10,500 10,500 F Fund Balances Restricted for Street & Highway Maintenance 209,620 209,620 F Assigned for: 569,700 1,137,700 Debt Service 568,000 Other Purposes 58,000 58,000 Unassigned 899,750 899,750 Total Fund Equity 957,750 569.700 2,305,070 209,620 568.000 569,700 $ Total Liabilities, Deferred Inflows and Fund Balance 1,208,750 336,120 568,000 S 2,682,570 CITY OF MONROE Statement of Revenues, Expenditures, and Changes in Fund Balances For the Year Ended December 31, 2017 Total Governmental City Jail Construction City Hall Debt Service City Jail Debt Service Street and General Highway Funds Revenues Property Taxes Sales Taxes 6,657,500 6,657,500 2,942,000 2,942,000 F Interest & Penalties 16,100 5,120 21,220 Licenses and Permits 800,000 800,000 Intergovernmental Revenues 1,065,000 332,000 1,340,000 2,737,000 Miscellaneous Revenues 350,000 350,000 1,070,120 $ 0 $ $ 11,097,600 $ 1,340,000 $ Total Revenues 13,507,720 Expenditures Current General Government 1,646,900 1,646,900 F Public Safety 3,026,900 3,026,900 F 1,441,400 Highways and Streets 1,040,500 2,481,900 F 591,400 Sanitation 591,400 F Health 724,100 724,100 F 374,300 Welfare 374,300 Culture and Recreation 917,300 917,300 Capital Outlay 492,800 5,330,300 5,823,100 F Debt Service: Principal 800,000 800,000 F 514,000 Interest 354,000 160,000 F 1,154,000 160,000 Total Expenditures 9,215,100 1,040,500 5,330,300 16,899,900 F (160,000) (1,154,000) (3,990,300) Excess (Deficiency) of Revenues Over Expenditures 1,882,500 29,620 (3,392,180) FI Other Financing Sources (Uses) 4,000,000 Proceeds of Bonds 4,000,000 Premium on Bonds Sold 200,000 200,000 Transfers In 729,700 1,142,000 1,871,700 (1,662,000) (1,662,000) (209,700) Transfers Out (1,871,700) 3.990,300 4,200,000 Total Other Financing Sources (Uses) C 1,142,000 729,700 220,500 807,820 Net Change in Fund Balance 29,620 (12,000) 569,700 F Fund Balance, January 1 737,250 180,000 580,000 1,497,250 F 209,620$ 568,000$ 957,750 569,700 $ Fund Balance, December 31 2,305,070 As of December 31, 2017 Business-Type Activities Enterprise Funds Water and Sewer Governmental Activities Internal Service Funds Assets Current Assets 102,400 $ S Cash 35,000 116,500 Customer Accounts Receivable (Net) Due from Other Funds 37,000 11,200 Materials and Supplies 94,500 37,540 350,400 Total Current Assets 83,740 Noncurrent Assets Advance to Stores and Services Fund 15,000 142,000 Restricted Assets (Cash) 3,037,300 Capital Assets, Net of Accumulated Depreciation 78,400 Total Noncurrent Assets 3,194,300 78,400 F 3,544,700 162,140 Total Assets Liabilities Current Liabilities 56,000 Accounts Payable 19,400 Payroll Taxes Payable 3,300 Due to Stores and Services Fund 8,000 67,300 Total Current Liabilities 19,400 Noncurrent Liabilities 2,500,000 Revenue Bonds Payable Advance from Water Utility Fund 15,000 2,500,000 Total Noncurrent Liabilities 15,000 2,567,300 F Total Liabilities 34,400 F Net Position Net Investment in Capital Assets 537,300 63,400 142,000 Restricted 298,100 977,400 $ Unrestricted 64,340 127,740 Total Net Position Internal Internal Enterprise Fund T Stmt of Rev Stmt of Net Stmt of Ca Enterprise Fund Entries Service Service T and Exp Position Flows Entries Accounts Accounts Prepare for the proprietary funds, a Statement of Revenues, Expenses, and Changes in Fund Ended December 31, 2017. CITY OF MONROE PROPRIETARY FUND Statement of Revenues, Expenses, and Changes in Fund Net Position For the Year Ended December 31, 2017 Business-Type Activities Enterprise Funds Water Governmental Activities Internal Service Funds and Sewer Operating Revenues: 371,200 1,049,500$ Charges for Sales and Services $ 1,049,500 Total Operating Revenues 371,200 Operating Expenses: Cost of Sales and Services 435,300 346,360 Selling 58,900 9,000 Administration 109,400 Depreciation 282,000 14,600 Total Operating Expenses 885,600 369,960 163,900 Operating Income 1,240 Nonoperating Expenses: Interest Expense 145,500 1,240 Change in Net Position 18,400 959,000 977,400 $ Net Position, January 1, 2017 126,500 127,740 $ Net Position, December 31, 2017 Govern- Balances for G de Go und me Account Titles: Adiustments & Eliminations Debits Adiusted Internal Service Funds Stmts Ref Debits Credits Credits Debits Credits A Capital Asts DEBITS 64.200.000 Depreciation 35,000 M 097120 25 500 000 Cash with Fiscal Agent Nat Boeition Investments Taxes Receivable, net 259.000 259,000 259.000 xB Capital Asset 5,823,100 262,000 262,000 Expenditure- Capital Outlay 5,823,100 Inventories Due from State Govt M 37.540 659.000 37.540 559.000 Depreciation expense 4,900,000 559,000 11200 148,000 Accumulated Denrecation 4,900,000 Funds 3,200 Capital Assets both rows 70.171.100 70.023.100 M 64200,000 5.823.100 Other financing Sources Proceeds B D Bonds 4,000,000 200,000 Other - Premium o Bonds Expenditures (expensee) Current Bond Puvable. 4,000,000 1,646,900 1,240 1,646,900 General Govt. 1,645,660 Premium on bond payable 200,000 3,0 2481 900 Highway and Streets x E Net Pesition 12.000,000 591,400 100 591400 Other Financing Sources bonds Sanitation 501,400| 12,000,000 00 34 200 xF Bond Payable 800.000 re Culture and Recreation Expenditure on debt service principal 917.300 917,300 917.300 800,000 Obea C AUSnces Exp - Debt Service Principal nterest (expenditurelexpense) 42,000 42,000 42000 XG Interest Expense xpenses) 328,000 Accrued Interest Payable 328.000 800,000 514.000 800,000 10,000 328,000 652000 652.000 G XH Net position 180,000 Canital Qutlay Depreciation Other Fin. Uses- Transfers Out 5 823 100 B 5,823,100 Interest Expense 180,000 4,900,000 C 1.871.700 4.900,000 4,900.000 xI Premin 10,000 1.871,700 1.871,700 Interest Exnense 10.000 Total Debits 21.454.170 88,289,770 XJ Defer 10,500 CREDITE ned intiows property Taxes taxes 326,800 40.200 Accounts Pa Due to Other Funds 19,400 M 326,800 40.200 328,000 346.200 37.000 28.000 10.500 N 3,200 Revenues- property taxes Net Position 21.000 K a erest Payable 21,000 both rows 800,000 3,200,000 3,200.000 190.000 200,000 D Compensation Ahsence Expense Premium an Bonds 190,000 42,000 10.000 Compensation Absence Payable 42,000 42.000 42,000 42000 15,000 M d M Cash Deferred Inflows: Property Taxes Accumulated Depreciation 10 50 35,000 10.500 33.614.600 Due from other funds. Supplies 28,700,000 A 4,900,000 14,600 M 11,200 33.600,000 Ows Revenues Property Taxes axes Interest 148.000 Canital asset 6,647,000 6,657,500 291200 K 21.000 10,500 6.647.000 Accumulated Depreciation 14,600 29 22000 duance in Water Utlity 21 220 15 000 800,000 800.000 Licenses & Permits 800,000 Net position 182,740 State Grant for Highway Street Expenses Capital Grant- Gen Gov't Capital Grant- Public Safety 1.065.000 106500 332.000 1.065.000 3.200 Due to other funds xN Due from ether funds 332,000 1.340,000 332000 3,200 1.340,000 1.340.000 Net Position 1 240 X o Expenditure General Governmen 1.240 Proconih Sources Premium on Bonds Transfors In 12000,000 12.000.000 Other Financing Sources- Transfer Ir Other Fin, Uses- Transfers Qut 1.871.700 4.000.000 D 200,000 1871.700 4,000,000 200,000 12.000.000 1871,700 1.871.700 PI 1,871,700 1,240 21,000 35500,000 A 182,740 M 180.000 12.000,000 beginning of yoar three rows 1497,250 21 454 170 24 250 25.019.750 88.289.770 Total Credits Program Revenues Net (Expense) Revenue and Change in Net Position perational apital Business-Type Grants and Governmental Charges for Grants and Contributions Contributions Activities Activities Expenses Services Total Functions/Programs Governmental Activities: General Government S Public Safety S Highways and Streets S Sanitation ealth S - Welfare S - Culture and Recreation S - Compensation Absence -S Interest S 145,500 282,000 145,500 282,000 Depreciation Total Governmental Activities 427,500 427,500 Business Type Activities Water and Sewer 15,000 15,000 S Total Government S $ 442,500 442,500 General Revenues es: |Property Taxes Sales Taxes Interest - licenses and Permits Miscellaneous Total General Revenues Change in Net Position Net Position, Beginning Net Position, Ending 442,500 442,500 -IS S 442,500 442,500 should be the answer 23,106,410 (101,858,340) Business-Type Governmental Activities Total Activities Assets Cash $ Cash with Fiscal Agents S S Investments Accounts Receivable (Net) S S Taxes Receivable (Net) Interest Receivable Internal Balances Current S S Due from Other Governments Inventories S Internal Balances Long-Term S Restricted Assets S Capital Assets, Net of Accumulated Depreciation Total Assets Liabilities Accounts Payable Payroll Taxes Payable Accrued Interest Payable Revenue Bonds Payable General Obligation Bonds Payable Premium on Bonds Sold Compensated Absences Payable Total Liabilities Net Position Net Investment in Capital Assets Restricted Unrestricted Total Net Position S CITY OF MONROE Reconciliation of the Balance Sheet of Governmental Funds the Statement of Net Position As of December 31, 2017 Fund balances reported in governmental funds Balance Sheet 5C Amounts reported for governmental activities in the Statement of Net Position are different because: Capital assets used in governmental activities are not financial resources and therefore not reported in the funds. Amount does not include capital assets of internal service funds (reported in following row). The assets and liabilities of internal service funds are included in governmental funds in the Statement of Net Position. Deferred revenue for property taxes reported in the funds but accrued as revenue in the government-wide statements and added to Net Position. Accrued interest payable is reported as a liability the Statement of Activities; interest is not acerued in the governmental funds. Bonds payable, not due and payable in the current period are not reported the funds. Compensated absences, not due and payable in the current period are not reported in the funds. Net Position of Governmental Activities 23,106,410 CITY OF MONROE Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balance to the Statement of Activities For the year ended December 31, 2017 Net change in fund balances - Governmental funds 5C Amounts reported for governmental activities in the Statement of Activities are different because: Governmental funds report capital outlays as expenditures rather than assets Governmental funds do not report depreciation expense The net revenue of internal service funds is not reported with the governmental funds Property taxes due more than 60 days after year end not accrued n the governmental funds. Bond proceeds are reported as other financing sources in the governmental funds but as liabilities in the government-wide statements Repayment of bonds is reported as an expenditure in the governmental funds Interest is not accrued at year end in the governmental funds. Increases in compensated absences, not due and payable in the current period are not reported in the funds. (101,858,340 Change in Net Position of Governmental Activities CITY OF MONROE Balance Sheet for the Governmental Funds As of December 31, 2017 Total City Jail Debt Service Street and City Hall Debt Service General Governmental Highway Funds Assets 9,700S 545,900 $ $ Cash 102,120 S 657,720 360,000 Cash with Fiscal Agent 928,000 568,000 200,000 Investments 59,000 259,000 Taxes Reveivable (net) 262,000 262,000 F Interest &Penalties Receivable (net) 16,850 16,850 384,000 Due from State Government 175,000 559,000 336,120$ 569,700 $ 2,682,570 568,000 $ Total Assets 1,208,750 Liabilities, Deferred Inflows and Fund Balance Liabilities Accounts Payable 200,300 126,500 326,800 Due to Other funds 40,200 40,200 126,500$ 0 $ $ 367,000 Total Liabilities 240,500 Deferred Inflows Property Taxes 10,500 10,500 F Fund Balances Restricted for Street & Highway Maintenance 209,620 209,620 F Assigned for: 569,700 1,137,700 Debt Service 568,000 Other Purposes 58,000 58,000 Unassigned 899,750 899,750 Total Fund Equity 957,750 569.700 2,305,070 209,620 568.000 569,700 $ Total Liabilities, Deferred Inflows and Fund Balance 1,208,750 336,120 568,000 S 2,682,570 CITY OF MONROE Statement of Revenues, Expenditures, and Changes in Fund Balances For the Year Ended December 31, 2017 Total Governmental City Jail Construction City Hall Debt Service City Jail Debt Service Street and General Highway Funds Revenues Property Taxes Sales Taxes 6,657,500 6,657,500 2,942,000 2,942,000 F Interest & Penalties 16,100 5,120 21,220 Licenses and Permits 800,000 800,000 Intergovernmental Revenues 1,065,000 332,000 1,340,000 2,737,000 Miscellaneous Revenues 350,000 350,000 1,070,120 $ 0 $ $ 11,097,600 $ 1,340,000 $ Total Revenues 13,507,720 Expenditures Current General Government 1,646,900 1,646,900 F Public Safety 3,026,900 3,026,900 F 1,441,400 Highways and Streets 1,040,500 2,481,900 F 591,400 Sanitation 591,400 F Health 724,100 724,100 F 374,300 Welfare 374,300 Culture and Recreation 917,300 917,300 Capital Outlay 492,800 5,330,300 5,823,100 F Debt Service: Principal 800,000 800,000 F 514,000 Interest 354,000 160,000 F 1,154,000 160,000 Total Expenditures 9,215,100 1,040,500 5,330,300 16,899,900 F (160,000) (1,154,000) (3,990,300) Excess (Deficiency) of Revenues Over Expenditures 1,882,500 29,620 (3,392,180) FI Other Financing Sources (Uses) 4,000,000 Proceeds of Bonds 4,000,000 Premium on Bonds Sold 200,000 200,000 Transfers In 729,700 1,142,000 1,871,700 (1,662,000) (1,662,000) (209,700) Transfers Out (1,871,700) 3.990,300 4,200,000 Total Other Financing Sources (Uses) C 1,142,000 729,700 220,500 807,820 Net Change in Fund Balance 29,620 (12,000) 569,700 F Fund Balance, January 1 737,250 180,000 580,000 1,497,250 F 209,620$ 568,000$ 957,750 569,700 $ Fund Balance, December 31 2,305,070 As of December 31, 2017 Business-Type Activities Enterprise Funds Water and Sewer Governmental Activities Internal Service Funds Assets Current Assets 102,400 $ S Cash 35,000 116,500 Customer Accounts Receivable (Net) Due from Other Funds 37,000 11,200 Materials and Supplies 94,500 37,540 350,400 Total Current Assets 83,740 Noncurrent Assets Advance to Stores and Services Fund 15,000 142,000 Restricted Assets (Cash) 3,037,300 Capital Assets, Net of Accumulated Depreciation 78,400 Total Noncurrent Assets 3,194,300 78,400 F 3,544,700 162,140 Total Assets Liabilities Current Liabilities 56,000 Accounts Payable 19,400 Payroll Taxes Payable 3,300 Due to Stores and Services Fund 8,000 67,300 Total Current Liabilities 19,400 Noncurrent Liabilities 2,500,000 Revenue Bonds Payable Advance from Water Utility Fund 15,000 2,500,000 Total Noncurrent Liabilities 15,000 2,567,300 F Total Liabilities 34,400 F Net Position Net Investment in Capital Assets 537,300 63,400 142,000 Restricted 298,100 977,400 $ Unrestricted 64,340 127,740 Total Net Position Internal Internal Enterprise Fund T Stmt of Rev Stmt of Net Stmt of Ca Enterprise Fund Entries Service Service T and Exp Position Flows Entries Accounts Accounts Prepare for the proprietary funds, a Statement of Revenues, Expenses, and Changes in Fund Ended December 31, 2017. CITY OF MONROE PROPRIETARY FUND Statement of Revenues, Expenses, and Changes in Fund Net Position For the Year Ended December 31, 2017 Business-Type Activities Enterprise Funds Water Governmental Activities Internal Service Funds and Sewer Operating Revenues: 371,200 1,049,500$ Charges for Sales and Services $ 1,049,500 Total Operating Revenues 371,200 Operating Expenses: Cost of Sales and Services 435,300 346,360 Selling 58,900 9,000 Administration 109,400 Depreciation 282,000 14,600 Total Operating Expenses 885,600 369,960 163,900 Operating Income 1,240 Nonoperating Expenses: Interest Expense 145,500 1,240 Change in Net Position 18,400 959,000 977,400 $ Net Position, January 1, 2017 126,500 127,740 $ Net Position, December 31, 2017