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above is the net position of government activities for 2016 NOTE: The Above is needed to complete the following question The following information is available

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above is the net position of government activities for 2016

NOTE: The Above is needed to complete the following question

The following information is available concerning the financial activities of the City of New York for fiscal 2016 (in millions):

Net change in fund balances-governmental funds $ (1,370)
Depreciation expense on general capital assets 3,353
Revenues of governmental funds that do not provide current financial resources 11,832
Repayments of principal on general long-term debt 5,676
Proceeds from issuance of general long-term debt 7,382
Expenses of governmental funds, other than depreciation, not requiring current financial resources 585
Capital outlays-governmental funds 5,193
Net increase in pension and OPEB liabilities 15,641

The fiscal 2016 change in net positiongovernmental activities is (in millions)

$1,076

$9,134

$(5,630)

$(16,016)

Answer is highlighted in yellow: Solution: $ 28 Answer: Explanation: $ 138 790 48 Total governmental fund balances Capital assets-governmental funds Other long-term assets-governmental funds Less: Bonds payable-governmental funds Accrued pension liabilities-governmental funds Accrued other liabilities-governmental funds Net position of governmental activities $ $ $ $ -690 - 130 -128 28

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