As one of the accountants for the City of Springfield, you will record the following transactions into the accompanying workbook?sheet GF WS. Note that some transactions have already been recorded in the workbook. The city has other accountants who also record transactions.

ACC 322 Final Project One Case Study Use of the Workbook For Final Project One, you will use the Final Project One Student Workbook Excel spreadsheet provided for you. If you would like a refresher course on using various features of Excel, sign in to Atomic Learning and type \"Excel\" in the search box. This will provide you with options to select the specific level of training that you need (i.e., intro, intermediate, or advanced) and the specific version of Excel that you have (i.e., 2011, 2013, etc.). The trainings are broken down into small, meaningful chunks. Therefore, you should be able to find specific topics at each level that will meet your needs. IMPORTANT: For the transaction worksheets for each fund, in column A, the part shaded in yellow, code the account 1 for balance sheet accounts and 2 for operating statement accounts. For example, on sheet GF WS, cash is a balance sheet account so in cell A1 you will put 1. These codes will allow the worksheet to automatically populate the operating statement and balance sheet columns on the worksheets. These will automatically populate the corresponding financial statements. For some funds, you will be required to prepare entries for transactions. Statements will automatically be created (if you properly code column A). You can check your work by ensuring debits equal credits and that the corresponding statements balance. For other funds, you will be given the completed worksheet for the funds' transactions and you will be required to prepare the appropriate statements (statements will not automatically be populated from the completed worksheet). Sheets you are required to complete will have white tabs. Sheets that automatically populate or that have given information will have green tabs. SAVE YOUR WORK OFTEN! General Fund As one of the accountants for the City of Springfield, you will record the following transactions into the accompanying workbooksheet GF WS. Note that some transactions have already been recorded in the workbook. The city has other accountants who also record transactions. 1. The city levied its general property taxes for the year of $1,580,000. The city estimates that $30,000 of the taxes will prove uncollectible. Record the taxes assuming the city will collect the remaining balance later during the fiscal year. 2. The city collected $1,300,000 of property taxes before the due date for taxes. The remainder of the taxes receivable became delinquent. 3. The city received and vouchered the materials and supplies that were on order from the previous year. The actual cost equaled the estimated cost of these materials and supplies, $19,000. The city records expenditures for materials and supplies when they are consumed. A perpetual inventory system is used. 4. The city incurred and paid salary expenditures as follows: Accrued salaries payable, January 1. . . . . . . . . . . . . . . . . . . . General government. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Public safety. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Highways and streets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Health and sanitation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Parks and recreation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 50,000 180,000 580,000 175,000 150,000 220,000 $1,355,000 5. Billings were received from the Central Communications Network Internal Service Fund for communications services used by general government agencies and departments as follows: General government. . . . . . . . . . . . . . . . . Public safety. . . . . . . . . . . . . . . . . . . . . . . . Highways and streets . . . . . . . . . . . . . . . . Health and sanitation . . . . . . . . . . . . . . . . Parks and recreation. . . . . . . . . . . . . . . . . Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 18,000 15,000 3,500 6,630 13,940 $ 57,070 6. $61,000 was paid on the amounts owed to the Central Communications Network Internal Service Fund. 7. Other unencumbered expenditures incurred during the year were vouchered as follows: General government. . . . . . . . . . . . . . . . . Public safety. . . . . . . . . . . . . . . . . . . . . . . . $ 11,420 41,280 Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 52,700 8. $500,000 was loaned from the General Fund to the Addiction Prevention Special Revenue Fund to provide working capital for that fund. The loan is to be repaid within a year. 9. The General Fund transferred resources to other funds as follows: Addiction Prevention Special Revenue Fund . . . . . . . . . Parks and Recreation Capital Projects Fund. . . . . . . . . . Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 60,000 200,000 $260,000 10. The General Fund received a transfer of $100,000 from the Water and Sewer Enterprise Fund. 11. The city levied interest and penalties of $35,000 on the overdue taxes receivable. Interest and penalties of $5,600 are expected to prove uncollectible. 12. The city wrote off uncollectible taxes receivable of $23,000. 13. General government equipment with an original cost of $300,000 and accumulated depreciation of $187,000 was sold for $72,000, which was deposited in the General Fund. 14. Materials and supplies were used by General Fund departments during the year as follows: General government . . . . . . . . . . . . . . . . . . . . . . . . . . . . Public safety . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Highways and streets . . . . . . . . . . . . . . . . . . . . . . . . . . . . Health and sanitation . . . . . . . . . . . . . . . . . . . . . . . . . . . . Parks and recreation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 11,000 35,000 75,300 39,400 30,000 $190,700 15. The city entered into a capital lease for parks and recreation equipment on December 31. The capitalizable cost of the equipment was $90,000, including a down payment of $10,000. 16. The city contributed $60,200 to the city Police and Fire Pension Trust Fund. 17. The General Fund received $250,000 from the Addiction Prevention Special Revenue Fund in partial repayment of the interfund loan. 18. The city paid vouchers payable of $235,800. Special Revenue Fund The Addiction Prevention Special Revenue Fund was established in 20X4 to account for federal grants intended to help communities prevent and battle drug and alcohol addictions. Because this is the first year for this fund, there is no beginning trial balance for the Addiction Prevention Special Revenue Fund. You are given the completed transaction worksheet (tab APSFR). From the worksheet: A. Prepare the 20X4 Statement of Revenues, Expenditures, and Changes in Fund Balance for the Addiction Prevention Special Revenue Fund (tab AP OP). B. Prepare the 20X4 balance sheet for the Addiction Prevention Special Revenue Fund (tab AP BS). Parks and Recreation Capital Projects Fund Record the following transactions to tab P&R CPF 1. The city approved a major capital improvement project to construct a recreational facility. The project will be financed by a bond issue of $1,500,000, transfers from the General Fund of $500,000, and a contribution from the county of $300,000. Record the budget assuming these amounts, along with an equal appropriation for the project, were adopted for 20X4. 2. The city received the county's contribution of $300,000. These resources are required to be used for the construction project. The grant is expenditure-driven. The city's policies indicate that resources restricted for a given purpose are considered expended prior to any unrestricted resources available for that purpose. 3. The city transferred $200,000 from the General Fund to the Parks and Recreation Capital Projects Fund. 4. The city issued bonds with a face (par) value of $1,500,000 at a premium of $50,000 on January 1. Bond issue costs of $15,000 were incurred. Interest of 8% per year and $100,000 of principal are due each December 31. 5. The city signed a $2,190,000 contract for construction of the new recreational facility. The process to establish the contract qualifies as a commitment under the city's commitments policy. 6. The city purchased land as the site for the facility at a cost of $110,000. Payment was made for the land. 7. The contractor billed the city $1,200,000. The city paid all but a 5% retainage. 8. The outstanding encumbrances were closed (use the transactions columns for this entry). 9. The budgetary accounts were closed at year end. Appropriations do not lapse at year end. Close the budgetary accounts in the transactions columns. General Debt Service Fund You are given the completed transaction worksheet (tab GEN DSF). From the worksheet, A. Prepare the 20X4 Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Debt Service Fund (tab GEN DSF OS). B. Prepare the 20X4 balance sheet for the General Debt Service Fund (tab GEN DSF BS). General Capital Assets You are given the completed transaction worksheet CGA WS; prepare the General Capital Asset Note Disclosure (tab CGA Note). General Long-Term Liabilities You are given the completed transaction worksheet GLTL; prepare the General Longterm Liabilities Note Disclosure (tab GLTL Note). Water and Sewer Enterprise Fund You are given the completed transaction worksheet (tab W&S EF). From the worksheet, A. Prepare the 20X4 Statement of Revenues, Expenditures, and Changes in Net Position (tab W&S OS). B. Prepare the 20X4 Statement of Net Position (tab W&S SNP). Central Communications Network Internal Service Fund Record the following transactions to tab CCN ISF: 1. Billings to departments for communications network services during 20X4 were as follows: General Fund departments . . . . . . . . . . . . . . . . . . . . . . Water and Sewer Department . . . . . . . . . . . . . . . . . . . . Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $57,070 33,000 $90,070 2. The department collected $61,000 from the General Fund and $30,000 from the Enterprise Fund. 3. Payroll of $60,000 was paid, and $3,000 was contributed to the statewide retirement system. 4. The department purchased materials and supplies costing $14,000 and a voucher was approved. 5. Materials and supplies costing $17,700 were used by the Central Communications Network during 20X4. 6. Vouchers payable of $15,000 were paid. 7. Depreciation for the year was $8,370. 8. Salaries and wages of $1,000 were accrued at the end of the year. Police and Fire Pension Trust Fund You are given the completed transaction worksheet (tab PTF WS). From the worksheet, A. Prepare the 20X4 Statement of Changes in Net Position (tab PTF OS). B. Prepare the 20X4 Statement of Net Position (tab PTF SNP). Fund and Government-Wide Financial Statements The tabs colored purple are the fund and government-wide statements. If all of your previous work is correct, your statements will be complete and will balance. Review the purple tabs to ensure all of your statements are complete and correct. Once they are correct, you are done with the assignment and may submit the entire workbook to your instructor. Balance Checkers - Account Title Cash Investments - Balances Beginning of Year Dr. Cr. 1,000,000 - City of Springfield General Fund FY 20X4 Transactions - Transactions # Dr. given given 200,000 559,140 given 243,000 480,000 Cr. # 200,000 given Taxes Receivable -- Current Allowance for Uncollectible Taxes -- Current Taxes Receivable -- Delinquent 80,900 Allowance for Uncollectible Taxes -- Delinquent Interest and Penalties Receivable Accrued Interest Receivable Inventory of Materials and Supplies 216,000 given 20,000 33,600 Allowance for Uncollectible Interest and Penalties 27,000 given 17,500 2,000 2,000 given - Cr. Operating Statement Dr. 2 Cr. - - Balance Sheet 1 Cr. - 2,002,140 Dr. 2,002,140 280,000 280,000 - - - - - - - - - - - - - - - - - - - (135,100) - 135,100 - - - - (20,000) - 20,000 - - - - 6,600 6,600 - - - - - (17,500) - 17,500 - - - - - Dr. - - - - - - - - - - 221,200 221,200 - - - - - (280,200) - 280,200 - - - - (63,050) - 63,050 - - - - - - - - - - - 8,000 (8,000) - 8,000 - - - - 1,442,000 (1,442,000) - 1,442,000 - - - - 53,000 given Vouchers Payable Balances End of Year 168,200 112,000 168,200 given Accrued Salaries Payable 50,000 13,050 given Deferred Revenues Due to Internal Service Fund Fund Balance Estimated Revenues given 2,032,500 2,032,500 given - - - - - - - Appropriations given 1,963,000 1,963,000 given - - - - - - - Budgetary Fund Balance given 69,500 69,500 given Encumbrances given 19,000 Outstanding Encumbrances 19,000 given Revenues -- Property Taxes Revenues -- Fines and Forfeitures 48,480 given - - - - - - - 19,000 19,000 - - - - - (19,000) - 19,000 - - - - - - - - - - - (48,480) - 48,480 - - - - Revenues -- Integovernmental 346,200 given (346,200) - 346,200 - - - - Revenues -- Licenses and Permits 122,460 given (122,460) - 122,460 - - - - 40,000 given (40,000) - 40,000 - - - - 2,700 2,700 - - - - - 19,300 19,300 - - - - - 5,050 5,050 - - - - - 4,400 4,400 - - - - - 4,100 4,100 - - - - - Revenues -- Interest Expenditures -- General Government given 900 given 1,800 given 13,500 given 5,800 given 3,300 given 1,750 given 2,900 given 1,500 given 1,900 given 2,200 Expenditures -- Public Safety Expenditures -- Highways and Streets Expenditures -- Health & Sanitation Expenditures -- Parks and Recreation Due to Water and Sewer Fund (22,500) - 22,500 - - - - Expenditures -- Capital Outlay 22,500 given - - - - - - - Due from Addiction Prevention SRF - - - - - - - Transfer to Addiction Prevention SRF - - - - - - - Transfer to Parks and Recreation CPF - - - - - - - - - - - - - - - - - - - - - Transfer from Water and Sewer EF - - - - - - - Revenues -- Interest and Penalties - - - - - - - OFS -- Proceeds from Sale of Equipment - - - - - - - Tax Liens Receivable - - - - - - - OFS -- Capital Lease - - - - - - - - - - - - - - 2,564,490 2,564,490 - - - - - - - - 1,649,500 Change in Fund Balance 1,649,500 5,289,890 5,289,890 CITY OF SPRINGFIELD GENERAL FUND Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended December 31, 20X4 Revenues: Taxes Interest and penalties on taxes Licenses and permits Fines and forfeitures Intergovernmental Investment income Total Revenues $ $ Expenditures: Operating General government Public safety Highways and streets Health and sanitation Parks and recreation Capital Outlay Total Expenditures Excess of Revenues over Expenditures - Other Financing Sources and (Uses): Transfer from Enterprise Fund Proceeds from sale of general capital assets Capital leases Transfer to Special Revenue Fund Transfers to Capital Projects Funds Transfer to Debt Service Fund Total Other Financing Sources and (Uses) - - - Net Change in Fund Balance Fund Balance, January 1, 20X4 Fund Balance, December 31, 20X4 - - $ 1,442,000 1,442,000 CITY OF SPRINGFIELD GENERAL FUND Balance Sheet December 31, 20X4 Assets Cash Investments Accrued interest receivable Taxes receivable--delinquent $ Less: Allowance for uncollectible delinquent taxes Tax liens receivable Interest and penalties receivable on taxes Less: Allowance for uncollectible interest and penalties Inventory of materials and supplies Due from Special Revenue Fund Total Assets $ - - - - $ - $ - Liabilities, Deferred Inflows, and Fund Balance Liabilities: Vouchers payable Accrued salaries payable Due to Internal Service Fund Due to Enterprise Fund $ - Deferred Inflows -- Deferred revenues - Fund Balance Total Liabilities and Fund Balance $ - 1,442,000 CITY OF SPRINGFIELD GENERAL FUND Statement of Revenues, Expenditures, and Changes in Fund Balance Budget vs. Actual (GAAP Basis) For the Year Ended December 31, 20X4 Original Budget Final Budget Revenues: Taxes Interest and penalties on taxes Licenses and permits Fines and forfeitures Intergovernmental Investment income Total Revenues 1,500,000 15,500 122,000 50,000 300,000 45,000 2,032,500 1,500,000 15,500 122,000 50,000 300,000 45,000 2,032,500 Expenditures: Operating: General government Public safety Highways and streets Health and sanitation Parks and recreation Capital Outlay Total Expenditures Excess of Revenues over Expenditures 260,000 868,000 290,000 215,000 330,000 1,963,000 69,500 Variance-Favorable (Unfavorable) Actual - (1,500,000) (15,500) (122,000) (50,000) (300,000) (45,000) (2,032,500) 260,000 868,000 290,000 215,000 330,000 80,000 2,043,000 (10,500) - 260,000 868,000 290,000 215,000 330,000 80,000 2,043,000 10,500 - 100,000 80,000 (60,000) (270,000) (729,965) (879,965) - (100,000) (80,000) (60,000) (270,000) (729,965) (1,239,965) Net Change in Fund Balance 69,500 (890,465) - (1,229,465) Fund Balance, January 1 Fund Balance, December 31 1,442,000 1,511,500 1,442,000 551,535 1,442,000 1,442,000 (1,229,465) Other Financing Sources and (Uses): Transfer from Enterprise Fund Proceeds from sale of general capital assets Capital leases Transfer to Special Revenue Fund Transfers to Capital Projects Funds Transfer to Debt Service Fund Total Other Financing Sources and (Uses) $ $ $ $ $ Balance Checks - Account Title City of Springfield Addiction Prevention Special Revenue Fund FY 20X4 Transactions - - Balances Beginning of Year Dr. Cr. 1 Cash 4 6 9 Dr. 500,000 450,000 60,000 1 Due from Federal Government 7 50,000 1 Vouchers Payable 5 430,000 450,000 75,000 1 Due to GF Cr. 430,000 250,000 8 250,000 500,000 # 5 8 Dr. 330,000 Cr. - - - Operating Statement Dr. 2 Cr. - - - - Balance Sheet Dr. 1 Cr. 330,000 - 50,000 - - - 50,000 - 3 7 - 95,000 - - - 95,000 4 - 250,000 - - - 250,000 - - - - - - 1 Fund Balance Estimated Revenues - Balances End of Year Transactions # - 1 530,000 530,000 10 - - - - - - Appropriations 10 525,000 525,000 1 - - - - - - Budgetary Fund Balance 10 5,000 5,000 1 - - - - - - 450,000 50,000 6 7 - 500,000 - 500,000 - - 525,000 - 525,000 - - - - 60,000 - 60,000 - - - - - - - - 905,000 905,000 525,000 560,000 380,000 345,000 560,000 380,000 35,000 380,000 2 Revenue -- Operating Grants 2 Expenditures -- Public Safety 3 7 450,000 75,000 2 Transfer from GF 60,000 Change in Fund Balance - 3,325,000 3,325,000 9 35,000 560,000 CITY OF SPRINGFIELD ADDICTION PREVENTION SPECIAL REVENUE FUND Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended December 31, 20X4 Revenues: Operating Grants Expenditures: Public Safety Excess of Revenues over Expenditures Other Financing Sources (Uses): Transfer from General Fund Net Change in Fund Balance Fund Balance, January 1, 20X4 Fund Balance, December 31, 20X4 CITY OF SPRINGFIELD ADDICTION PREVENTION SPECIAL REVENUE FUND Balance Sheet December 31, 20X4 Assets Cash Due from Federal Government Total Assets Liabilities and Fund Balance Liabilities: Vouchers payable Due to General Fund Fund Balance: Total Liabilities and Fund Balance Balance Checks - Account Title City of Springfield Parks and Recreation Capital Projects Fund FY 20X4 Transactions - - Balances Beginning of Year Dr. Cr. Dr. - Balances End of Year Transactions # - Cr. # Dr. Cr. Operating Statement Dr. 2 Cr. - - - Dr. Cash - - Estimated Revenues and OFSs - - - - - - Appropriations - - - - - - Revenues -- Intergovernmental - - - - - - Transfer from GF - - - - - - OFS -- Bond Principal - - - - - - OFS -- Bond Premium - - - - - - Expenditures -- Debt Service -- Bond Issue Costs - - - - - - Encumbrances - - - - - - Encumbrances Outstanding - - - - - - Expenditures -- Capital Outlay - - - - - - Contracts Payable -- Retained Percentage - - - - - - - - - - - - Change in Fund Balance - - - - Balance Sheet 1 Cr. - - - CITY OF SPRINGFIELD PARKS AND RECREATION CAPITAL PROJECTS FUND Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended December 31, 20X4 Revenues: Intergovernmental Expenditures: Capital outlay: Debt Service -- Bond Issue Costs Total Expenditures $ $ - Excess (Deficiency) of Revenues Over (Under) Expenditures Other Financing Sources and (Uses): Transfer from General Fund Bond Principal Bond Premium Total Other Financing Sources and (Uses) - - - Net Change in Fund Balance - Fund Balance, January 1, 20X4 Fund Balance, December 31, 20X4 - $ CITY OF SPRINGFIELD PARKS AND RECREATION CAPITAL PROJECTS FUND Balance Sheet December 31, 20X4 Assets Cash Liabilities and Fund Balance Liabilities: Contracts Payable -- Retained Percentage Fund Balance $ (200,000) 200,000 Total Liabilities and Fund Balance $ - $ - $ - All resources of this fund except those transferred from the General Fund were restricted for the project. Restricted resources were assumed to be expended first when both restricted and unrestricted resources were available. In all probability, the council took action to commit the resources transferred to the Capital Projects Fundparticularly since the county is financing part of the cost. If so, Committed Fund Balance is $200,000; if not, Assigned Fund Balance is $200,000. The $200,000 cannot be reported as Unassigned Fund Balance. Balance Checks - Account Title 1 Cash City of Springfield General Debt Service Fund FY 20X4 Transactions - - Balances Beginning of Year Dr. Cr. 171,350 # 2a 4 6 1 Investments 1 Taxes Receivable -- Delinquent 1,237,000 52,000 1 Allowance for Uncollectible Taxes -- Delinquent 1 Interest and Penalties Receivable 9 5,800 1 Allowance for Uncollectible Interest and Penalties 3,500 1 Deferred Revenues 50,000 1 Fund Balance # 7 Dr. 214,320 Cr. - - - Operating Statement Dr. 2 Cr. - - - - Balance Sheet Dr. 1 Cr. 214,320 - 1,000,000 6 254,000 - - - 254,000 - 53,200 41,040 4,370 4 5 59,790 - - - 59,790 - 5 4,370 3,000 - 4,430 - - - 4,430 3 6,650 5,130 1,370 4 5 11,050 - - - 11,050 - 5 1,370 1,370 3 - 3,500 - - - 3,500 50,000 52,000 - 52,000 - - - 52,000 - 1,411,950 - - - 1,411,950 - - - - - - 8b 2c 8a 1,411,950 1 Taxes Receivable -- Current - 17,000 2b 10,900 Transactions Dr. Cr. 246,800 1,300,000 46,170 1,050,000 Balances End of Year 1 300,000 246,800 53,200 2a 2b 1 Allowance for Uncollectible Taxes -- Current 2c 3,000 3,000 1 - - - - - - 2 Revenues -- Property Taxes 8a 45,050 297,000 43,100 1 8b - 295,050 - 295,050 - - 2 Revenues -- Interest and Penalties 8a 6,950 5,280 6,900 3 8b - 5,230 - 5,230 - - 50,000 17,000 6 9 - 67,000 - 67,000 - - 2 Revenues -- Interest 2 Expenditures -- Debt Service -- Principal 7 500,000 500,000 - 500,000 - - - 2 Expenditures -- Debt Service -- Interest 7 800,000 800,000 - 800,000 - - - - - - - - - 1,839,160 1,839,160 1,300,000 367,280 539,160 1,471,880 1,300,000 932,720 1,300,000 932,720 1,471,880 1,471,880 1,471,250 Change in Fund Balance 1,471,250 3,130,560 3,130,560 CITY OF SPRINGFIELD GENERAL DEBT SERVICE FUND Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended December 31, 20X4 Revenues: Taxes Interest and penalties on taxes Investment income Total Revenues Expenditures: Debt service: Bond Principal Interest Total Expenditures Excess (Deficiency) of Revenues over Expenditures Fund Balance, January 1, 20X4 Fund Balance, December 31, 20X4 CITY OF SPRINGFIELD GENERAL DEBT SERVICE FUND Balance Sheet December 31, 20X4 Assets Cash Investments Taxes receivable--delinquent Less: Allowance for uncollectible delinquent taxes Interest and penalties receivable on taxes Less: Allowance for uncollectible interest and penalties Total Assets Liabilities, Deferred Inflows, and Fund Balance Liabilities: Deferred Inflows: Deferred revenues Fund Balance: Total Liabilities, Deferred Inflows, and Fund Balance City of Springfield General Capital Assets and General Long-Term Liabilities Accounts FY 20X4 Transactions - Balance Checks Account Title 1 Land 1 Buildings Balances Beginning of Year Dr. Cr. 800,000 2,200,000 1,750,000 1 Accumulated Depreciation -- Machinery & Equipment 1 Infrastructure 550,000 187,000 6,000,000 1,700,000 1 Bonds Payable # Dr. 910,000 Cr. - - - General Capital Assets General Long-Term Liabilities Dr. 1 Cr. 910,000 - 5,300,000 - 5,300,000 - 245,000 - 2,445,000 - 2,445,000 300,000 1,450,000 - 1,450,000 - 222,000 - 585,000 - 585,000 13,000,000 - 13,000,000 - - 6,520,000 - 6,520,000 2,900,000 - 2,900,000 - 13,000,000 1 Accumulated Depreciation -- Infrastructure 1 Construction in Progress Cr. 5,300,000 1 Accumulated Depreciation -- Buildings 1 Machinery & Equipment Dr. 110,000 - Balances End of Year Transactions # - 520,000 1,200,000 9,000,000 500,000 1,500,000 - 10,000,000 - 10,000,000 1 Premium on Bonds Payable 180,000 3,330 50,000 - 226,670 - 226,670 1 Long-Term Claims and Judgments Payable 700,000 - 700,000 - 700,000 1 Long-Term Compensated Absences Payable 220,000 - 240,000 - 240,000 - 2,853,330 - 2,853,330 - 80,000 - 80,000 - - - - 90,000 - 90,000 - 23,650,000 23,650,000 23,650,000 23,650,000 23,650,000 23,650,000 1 Net Position 3,700,000 20,000 846,670 1 Capital Lease Payable 80,000 1 Refunding Bonds Payable 1 Leased Equipment 90,000 22,550,000 Change in Net Position 22,550,000 2,937,000 2,937,000 The journal entries below provide the detail of all transactions affecting the Net Position account. 1 Net Position Accumulated Depreciation -- Buildings Accumulated Depreciation -- Machinery & Equipment Accumulated Depreciation -- Infrastructure 2 Net Position Long-Term Compensated Absences Payable 3 Premium on Bonds Payable (related to 7-4 below) Net Position * 5-22 Accumulated Depreciation -- Machinery and Equipment Net Position ** Machinery and Equipment 6-27 Leased Equipment Capital Lease Payable Net Position 7-4 Net Position Bonds Payable Premium on Bonds Payable 7-6 Land Net Position 7-7 Construction in Progress Net Position 8-7 Bonds Payable Net Position 987,000 20,000 3,330 187,000 113,000 90,000 1,550,000 110,000 1,200,000 500,000 * This adjustment affects the calculation of Interest Expense in the conversion process. ** This adjustment converts the proceeds from the sale of equipment to a loss on sale of equipment in the conversion process. *** This adjustment affects the calculation of the Deferred Interest Expense Adjustment in the conversion process. Total Net Position 245,000 222,000 520,000 20,000 3,330 300,000 80,000 10,000 1,500,000 50,000 110,000 1,200,000 500,000 onversion process. to a loss on sale of ense Adjustment 846,670 City of Springfield General Capital Assets Note Disclosure Worksheet FY 20X4 Transactions Beginning Balance Nondepreciable Assets Land Construction in Progress Total Nondepreciable Assets Increases 800,000 110,000 1,700,000 1,200,000 2,500,000 1,310,000 Depreciable Assets Buildings 5,300,000 Machinery & Equipment 1,750,000 850,000 Leased Equipment Infrastructure Total Depreciable Assets Accumulated Depreciation Buildings Machinery & Equipment Leased Equipment - 90,000 13,000,000 20,900,000 90,000 (2,200,000) (245,000) (550,000) (145,000) (222,000) - - Infrastructure (6,000,000) (520,000) Total Accumulated Depreciation Total Depreciable Assets, Net Governmental Activities Capital Assets, Net (8,895,000) 12,005,000 14,505,000 (987,000) (897,000) 413,000 Ref # rksheet Ref # Decreases Ending Balance 910,000 2,900,000 - 3,810,000 5,300,000 (300,000) 2,300,000 90,000 13,000,000 (300,000) 20,690,000 (2,445,000) 187,000 (730,000) (6,520,000) 187,000 (113,000) (113,000) (9,695,000) 10,995,000 14,805,000 City of Springfield General Capital Assets Note Disclosure For the Year Ended December 31, 20X4 Beginning Balance Nondepreciable Assets Land Construction in Progress Total Nondepreciable Assets Depreciable Assets Buildings Machinery & Equipment Leased Equipment Infrastructure Total Depreciable Assets Accumulated Depreciation Buildings Machinery & Equipment Leased Equipment Infrastructure Total Accumulated Depreciation Total Depreciable Assets, Net Governmental Activities Capital Assets, Net Depreciation Expense was charged to governmental functions as follows: General Government $ 58,000 Public Safety 160,000 Highways and Streets 667,000 Health and Sanitation 65,000 Parks and Recreation 37,000 Internal Service Funds Total Depreciation Expense $ 8,370 995,370 Increases Decreases Ending Balance City of Springfield General Long-Term Liabilities Note Worksheet FY 20X4 Transactions Beginning Balance Bonds and Notes Payable Bonds Payable Increases 9,000,000 1,500,000 180,000 50,000 Capital Lease Payable - 80,000 Refunding Bonds Payable - Premium on Bonds Payable Total Bonds and Notes Payable 9,180,000 1,630,000 Other Long-Term Liabilities Claims and Judgments Payable 700,000 Compensated Absences Payable 220,000 20,000 Other Long-Term Liabilities 920,000 20,000 10,100,000 1,650,000 Governmental Activities Long-Term Liabilities Ref # ote Worksheet ns Ref # Decreases Amounts Due in One Year Ending Balance (500,000) 10,000,000 600,000 (3,330) 226,670 3,330 80,000 10,000 (503,330) 10,306,670 613,330 700,000 240,000 - 940,000 - (503,330) 11,246,670 613,330 City of Springfield General Long-Term Liabilities Note For the Year Ended December 31, 20X4 Beginning Balance Bonds and Notes Payable Bonds Payable Premium on Bonds Payable Capital Lease Payable Refunding Bonds Payable Total Bonds and Notes Payable Other Long-Term Liabilities Claims and Judgments Payable Compensated Absences Payable Other Long-Term Liabilities Governmental Activities Long-Term Liabilities Increases Decreases Ending Balance Amounts Due in One Year Balance Checkers - Account Title 1 Cash 1 Accounts Receivable - Balances Beginning of Year Dr. Cr. 175,000 # 2 8 45,000 1 Allowance for Uncollectilbe Accounts City of Springfield Water and Sewer Enterprise Fund FY 20X4 Transactions - 1 827,500 815,000 6,400 - # Cr. - - Operating Statement Dr. 2 Cr. - 5 6 7 11 12 14 ### Dr. 344,000 2 3 ### 51,100 - - - - - - - Balance Sheet Dr. 1 Cr. 344,000 - 51,100 - 3 6,400 8,175 1 ### - 2,875 - - - 2,875 1 Inventory of Materials and Supplies 27,000 9 89,900 88,700 10 ### 28,200 - - - 28,200 - 1 Customer Deposits -- Cash 30,000 4 4,500 ### 34,500 - - - 34,500 - 1 Land 17,000 ### 17,000 - - - 17,000 - 1,200,000 ### 1,200,000 - - - 1,200,000 - ### - 340,000 - - - 340,000 ### 2,000,000 - - - 2,000,000 - ### - 1,150,000 - - - 1,150,000 1 Buildings 1,100 Transactions Dr. Cr. 815,000 202,000 8,000 120,000 30,000 120,000 82,000 100,000 Balances End of Year 1 Accumulated Depreciation -- Buildings 1 Machinery and Equipment 40,000 13 1,000,000 150,000 13 ### 4,500,000 - - - 4,500,000 - 3,250,000 110,000 13 ### - 3,360,000 - - - 3,360,000 75,900 2,000,000 1 Accumulated Depreciation -- Machinery and Equipment 1 Water and Sewer Lines 300,000 4,500,000 1 Accumulated Depreciation -- Water and Sewer Lines 1 Vouchers Payable 1 Accrued Interest Payable 68,000 12 82,000 89,900 9 ### - 75,900 - - - 500 11 500 450 16 # - 450 - - - 450 4,500 4 ### - 34,500 - - - 34,500 ### - 640,000 - - - 640,000 80,000 17 1 Customer Deposits Payable 30,000 1 Bonds Payable - long term 720,000 17 80,000 1 Bonds Payable - current 80,000 11 80,000 1 Long-Term Claims and Judgments Payable 25,000 ### - 25,000 - - - 25,000 2,519,400 ### - 2,519,400 - - - 2,519,400 1 Net Position ### 80,000 80,000 2 Water Sales (net of x,xxx in allowances) 524,840 1 ### - 524,840 - 524,840 - - 2 Sewer Fees (net of x,xxx in allowances) 316,985 1 ### - 316,985 - 316,985 - - 190,000 ### 190,000 - 190,000 - - - 2 Salaries and Wages Expense 5 2 Pension Expense 5 12,000 ### 12,000 - 12,000 - - - 1 Investments 6 120,000 ### 120,000 - - - 120,000 - 2 Communications Expense 7 33,000 ### 33,000 - 33,000 - - - - 3,000 - - - 3,000 1 Due to ISF 2 Interest Revenue 3,000 7 ### 8,000 8 ### - 8,000 - 8,000 - - 2 Materials and Supplies Expense 10 88,700 ### 88,700 - 88,700 - - - 2 Interest Expense 11 15 39,500 450 ### 39,950 - 39,950 - - - 2 Depreciation Expense -- Equipment 13 150,000 ### 150,000 - 150,000 - - - 2 Depreciation Expense -- Buildings 13 40,000 ### 40,000 - 40,000 - - - 2 Depreciation Expense -- Water and Sewer Lines 13 110,000 ### 110,000 - 110,000 - - - 2 Transfer to GF 14 100,000 ### 100,000 - 100,000 - - - - - - - - - - ### 22,500 - - - 22,500 - - - - - - - - 9,080,950 9,080,950 763,650 849,825 8,317,300 8,231,125 86,175 849,825 849,825 8,317,300 86,175 8,317,300 1 Salaries Payable 1 Due from GF 1 7,994,000 Change in Fund Balance 7,994,000 22,500 2,899,950 2,899,950 CITY OF Springfield WATER AND SEWER ENTERPRISE FUND Statement of Revenues, Expenses, and Changes in Net Position For the Year Ended December 31, 20X4 Operating Revenues: Water Sales (net of $x,xxx in allowances) Sewage Fees (net of $x,xxx in allowances) Operating Expenses: Salaries and Wages Pensions Materials and Supplies Depreciation Communication Services Operating Income Nonoperating Revenues and Expenses: Investment Income Interest expense Income before Transfers Transfer to General Fund Change in Net Position Net Position, January 1, 20X4 Net Position, December 31, 20X4 CITY OF SPRINGFIELD WATER AND SEWER ENTERPRISE FUND Statement of Net Position December 31, 20X4 ASSETS Current Assets: Cash Due from General Fund Investments Accounts receivable (net of uncollectible accounts of $x,xxx) Inventory of materials and supplies Total Current Assets Noncurrent Assets: Restricted Assets: Customer deposits--cash Property, Plant, and Equipment: Land Buildings Less: Accumulated depreciation Machinery and equipment Less: Accumulated depreciation Water and sewer lines Less: Accumulated depreciation Total Property, Plant, and Equipment Total Noncurrent Assets Total Assets LIABILITIES Current Liabilities: Vouchers payable Accrued interest payable Due to Internal Service Fund Accrued salaries payable Bonds payable Total Current Liabilities Long-Term Liabilities: Customer deposits payable Bonds payable Claims and judgments payable Total Long-Term Liabilities Total Liabilities NET POSITION Net Investment in Capital Assets Total Net Position $ - City of Harvey City Water and Sewer Enterprise Fund Computation of Net Position Components December 31, 20X4 Asset/Liability Cash Investments Due from General Fund Accounts Receivable (net) Materials and Supplies Capital Assets (net) Vouchers Payable Accrued Interest Payable Due to Internal Service Fund Accrued Salaries Payable Customer Deposits Payable Bonds Payable Claims and Judgments Payable Totals Unrestricted - Net Investment in Capital Assets Restricted Note: This is not part of the financial statements presentation. - - CITY OF HARVEY CITY WATER AND SEWER ENTERPRISE FUND Statement of Cash Flows For the Year Ended December 31, 20X4 Cash Flows from Operating Activities: Cash received from customers Cash paid to employees Cash paid for materials and services Net cash flows from operating activities $ Cash Flows from Noncapital Financing Activities: Cash paid in transfer to General Fund (22,325) 9,700 (12,625) - Cash Flows from Capital and Related Financing Activities: Cash paid to retire bond principal Cash paid for interest Net cash flows from capital and related financing activities (80,000) (40,000) (120,000) Cash Flows from Investing Activities: Cash paid for investments Cash received from investment income Net cash flows from investing activities (120,000) (120,000) Increase in cash (252,625) Cash balance, January 1, 20X4 Cash balance, December 31, 20X4 Reconciliation of Operating Income to Net Cash Provided by Operating Activities: Operating income Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation Changes in assets and liabilities: Change in accounts receivable Change in interfund receivables for services Change in inventory of materials and supplies Change in vouchers payable Change in salaries and wages payable Change in interfund liabilities for services Change in customer deposits payable Net cash flows from operating activities $ $ 205,000 (47,625) $ - (4,325) (22,500) (1,200) 7,900 3,000 4,500 (12,625) $ (12,625) Reconciliation of ending cash balance to balance sheet: Cash Customer Deposits--Cash Total cash balance, December 31, 20X4 $ $ - Balance Checkers City of Springfield Central Communications Network Internal Service Fund FY 20X4 Transactions - - Account Title Cash Balances Beginning of Year Dr. Cr. 57,000 Transactions # Dr. - - Balances End of Year Cr. # Dr. 57,000 Cr. - Operating Statement Dr. 2 Cr. - - - Dr. - Balance Sheet 1 Cr. - - - Due from GF 8,000 8,000 - - - - - Inventory of Materials and Supplies 5,800 5,800 - - - - - Machinery and Equipment 850,000 Accumulated Depreciation -- Machinery and Equipment Vouchers Payable Net Position 850,000 - - - - - 145,000 - 145,000 - - - - 3,800 - 3,800 - - - - 772,000 - 772,000 - - - - Billings to Departments -- General Fund - - - - - - Billings to Departments -- Enterprise Fund - - - - - - Due from EF - - - - - - Salaries Expense - - - - - - Supplies Expenses - - - - - - Depreciation Expense -- Machinery and Equipment - - - - - - Salaries Payable - - - - - - Pension Expense - - - - - - - - - - - - 920,800 920,800 - - - - 920,800 Change in Fund Balance 920,800 - - CITY OF SPRINGFIELD CENTRAL COMMUNICATIONS NETWORK INTERNAL SERVICE FUND Statement of Revenues, Expenses, and Changes in Net Position For the Year Ended December 31, 20X4 Operating Revenues: Billings to Departments Operating Expenses: Salaries and Wages Pensions Materials and Supplies Depreciation $ $ - - Operating Income Net Position, January 1, 20X4 Net Position, December 31, 20X4 - - $ 772,000 772,000 CITY OF SPRINGFIELD CENTRAL COMMUNICATIONS NETWORK INTERNAL SERVICE FUND Statement of Net Position December 31, 20X4 ASSETS Current Assets: Cash Due from General Fund Due from Enterprise Fund Inventory of Materials and Supplies Total Current Assets Noncurrent Assets: Machinery and Equipment $ $ - - Less: Accumulated Depreciation Total Noncurrent Assets - Total Assets LIABILITIES Current Liabilities: Vouchers Payable Accrued Salaries Payable Total Liabilities NET POSITION Net Investment in Capital Assets Total Net Position - $ - CITY OF SPRINGFIELD CENTRAL COMMUNICATIONS NETWORK INTERNAL SERVICE FUND Statement of Cash Flows For the Year Ended December 31, 20X4 Cash Flows from Operating Activities: Cash received from departments Cash paid to employees Cash paid for materials and services Net cash provided by operating activities $ 8,000 2,000 Cash balance, January 1 Cash balance, December 31 Reconciliation of Operating Income to Net Cash Provided by Operating Activities: Operating income Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation Changes in assets and liabilities: Change in interfund receivables for services Change in inventory of materials and supplies Change in vouchers payable Change in salaries and wages payable Net cash provided by operating activities $ 10,000 $ 57,000 67,000 $ - 8,000 5,800 (3,800) - 10,000 $ 10,000 Balance Checkers - Account Title 1 Cash 1 Investments 1 Accrued Interest Receivable City of Springfield Pension Trust Fund FY 20X4 Transactions - - Balances Beginning of Year Dr. Cr. 120,000 # 1 6 Transactions Dr. Cr. 60,200 60,200 68,600 9,000 8,700 78,000 1,271,800 2 7 60,200 65,000 8,600 7 17,000 3 400 1 Due to Resigned Employees 400 1 Net Position -- Restricted for Pension Benefits 8,600 - # 2 3 4 5 6 1,400,000 2 Contributions -- Employer 60,200 2 Deductions -- Refunds to Resigned Employees 2 8,600 2 Deductions -- Administrative Costs 4 9,400 1 Vouchers Payable 700 2 Deductions -- Benefits 5 1 4 79,000 1 Annuities Payable - Balances End of Year Dr. 92,900 Cr. - - - Operating Statement Dr. 2 Cr. - - - - Balance Sheet Dr. 1 Cr. 92,900 - 1,397,000 - - - 1,397,000 - 17,000 - - - 17,000 - - - - - - - - 1,400,000 - - - 1,400,000 - 60,200 - 60,200 - - 8,600 - 8,600 - - - 9,400 - 9,400 - - - - 700 - - - 700 79,000 - 79,000 - - - 1,000 5 - 1,000 - - - 1,000 2 Additions -- Interest Income 60,000 65,000 6 7 - 125,000 - 125,000 - - 2 Additions -- Increase in Fair Value of Investments 17,000 7 - 17,000 - 17,000 - - - - - - - - - - - - - - 1,603,900 1,603,900 97,000 202,200 1,506,900 1,401,700 105,200 202,200 202,200 1,506,900 105,200 1,506,900 1,400,400 Change in Fund Balance 1,400,400 368,400 368,400 CITY OF SPRINGFIELD POLICE AND FIRE PENSION TRUST FUND Statement of Changes in Net Position For the Year Ended December 31, 20X4 Additions: Employer Contributions Investment income Interest Net increase in investment fair value Total additions Deductions: Retirement benefits Refunds of contributions Administrative costs Total deductions Change in net position held in trust for pension benefits Net Position Restricted for Pension Benefits, January 1, 20X4 Net Position Restricted for Pension Benefits, December 31, 20X4 CITY OF SPRINGFIELD POLICE AND FIRE PENSION TRUST FUND Statement of Net Position December 31, 20X4 Assets: Cash Accrued interest receivable Investments Total assets Liabilities: Vouchers payable Annuities payable Total liabilities Net Position Held in Trust for Pension Benefits CITY OF SPRINGFIELD GOVERNMENTAL FUNDS Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended December 31, 20X4 Addiction Prevention SRF General Fund Revenues: Taxes Interest and Penalties on Taxes Licenses and Permits Fines and Forfeitures Intergovernmental Investment Income Total Revenues $ Expenditures: Operating General Government Public Safety Highways and Streets Health and Sanitation Parks and Recreation - $ Parks and Recreation CPF - $ Governmental Funds Total General DSF - $ - $ - - - - - - - - - - - - - - - - - - - - - Capital leases - - - - - Transfer to Addiction Prevention SRF Transfers to Capital Projects Funds - - - - - - - - - - - - - - - Capital Outlay Debt Service Principal Interest Bond Issue Costs Payment to Refunding Bond Escrow Agent Total Expenditures Excess (Deficiency) of Revenues Over (Under) Expenditures Other Financing Sources and (Uses): Transfer from General Fund Transfer from Enterprise Fund Proceeds from sale of general capital assets Bond Principal Bond Premium Total Other Financing Sources and (Uses) Net Change in Fund Balance Fund Balance, January 1 Fund Balance, December 31 $ 1,442,000 1,442,000 $ - $ - $ - $ 1,442,000 1,442,000 CITY OF SPRINGFIELD GOVERNMENTAL FUNDS Balance Sheet December 31, 20X4 Addiction Prevention SRF General Fund Parks and Recreation CPF Governmental Funds Total General DSF Assets Cash Investments $ - $ - $ - $ - $ - Due from Federal Government Due from Addiction Prevention SRF Taxes Receivable--Delinquent (net) - - - - - Interest and Penalties Receivable on Taxes (net) Inventory of Materials and Supplies Total Assets - - - - - Total Liabilities, Deferred Inflows, and Fund Balances Liabilities: Vouchers Payable Accrued Salaries Payable Contracts Payable -- Retained Percentage Due to General Fund Due to Internal Service Fund Due to Enterprise Fund $ $ Total Liabilities - $ $ - $ $ - $ $ - $ $ - - - - - - Deferred Inflows -- Deferred revenues - - - - - Fund Balances Nonspendable Restricted Committed Assigned Unassigned Total Fund Balances Total Liabilities, Deferred Inflows, and Fund Balances - - - (200,000) 200,000 - $ $ $ (200,000) 200,000 - $ $ CITY OF SPRINGFIELD PROPRIETARY FUNDS Statement of Revenues, Expenses, and Changes in Net Position For the Year Ended December 31, 20X4 Central Communications Network Internal Service Fund Water and Sewer Enterprise Fund Operating Revenues: Water Sales (net of $5,160 in allowances) Sewage Fees (net of $3,015 in allowances) Billing to Departments Total Operating Revenues $ Operating Expenses: Salaries and Wages Pensions Materials and Supplies Depreciation Communication Services Total Operating Expenses Operating Income Nonoperating Revenues and Expenses: Investment Income Interest Total Nonoperating Revenues and Expenses Income before Transfers Transfer to General Fund Change in Net Position Net Position, January 1, 20X4 Net Position, December 31, 20X4 $ - $ - - - - - - - - - - - - - - 772,000 772,000 $ CITY OF SPRINGFIELD PROPRIETARY FUNDS Statement of Net Position December 31, 20X4 Central Communications Network Internal Service Fund Water and Sewer Enterprise Fund ASSETS Current Assets: Cash Due from General Fund Due from Enterprise Fund Investments Accounts receivable (net of uncollectible accounts of $2,875) Inventory of materials and supplies Total Current Assets $ - $ - - - Noncurrent Assets: Restricted Assets: Customer deposits--cash - - Property, Plant, and Equipment: Land Buildings (net) Machinery and equipment (net) Water and sewer lines (net) Total Property, Plant, and Equipment (net) Total Noncurrent Assets Total Assets - - LIABILITIES Current Liabilities: Vouchers payable Accrued interest payable Due to Internal Service Fund Accrued salaries payable Bonds payable Total Current Liabilities - - Long-Term Liabilities: Customer deposits payable Bonds payable Claims and judgments payable - - Total Long-Term Liabilities Total Liabilities - - NET POSITION Net Investment in Capital Assets Unrestricted Total Net Position - - $ $ CITY OF SPRINGFIELD GOVERNMENTAL FUNDS Operating Statement Conversion Worksheet For the Year Ended December 31, 20X4 Governmental Funds Total Revenues: Taxes Interest and Penalties on Taxes Licenses and Permits Fines and Forfeitures Intergovernmental Investment Income Total Revenues Expenditures: Operating General Government Public Safety Highways and Streets Health and Sanitation Parks and Recreation Economic Development Other Capital Outlay Debt Service Principal Interest Bond Issue Costs Payment to Refunding Bond Escrow Agent Total Expenditures Internal Service Funds - GCA Changes GLTL Changes 1,950 50 - - Other Changes and Interfund Items - 58,000 160,000 667,000 65,000 37,000 - 2,000 - - - 987,000 - (3,330) - (3,330) Governmental Activities Statement of Activities 1,950 50 2,000 58,000 160,000 667,000 65,000 37,000 (3,330) 983,670 Other Financing Sources and (Uses): Transfer from General Fund Transfer from Enterprise Fund Proceeds from sale of general capital assets Bond Principal Bond Premium Refunding Bonds Capital leases Payment to Refunding Bond Escrow Agent Transfer to Addiction Prevention SRF Transfers to Capital Projects Funds Transfer to Debt Service Fund Total Other Financing Sources and (Uses) - - - - - - Net Change in Fund Balance - - (987,000) - 5,330 (981,670) - CITY OF SPRINGFIELD GOVERNMENTAL FUNDS Balance Sheet Conversion Worksheet December 31, 20X4 Governmental Funds Total Cash Investments Accrued Interest Receivable Due from Federal Government Due from General Fund Due from Special Revenue Fund Due from Enterprise Fund Internal Balances Taxes Receivable--Delinquent (net) Tax Liens Receivable Interest and Penalties Receivable on Taxes (net) Inventory of Materials and Supplies Land Construction in Progress Buildings (net) Machinery & Equipment (net) Leased Equipment (net) Infrastructure (net) Internal Service Funds - GCA Changes Other Changes and Interfund Items GLTL Changes - - - - - - - - - - - Deferred Outflows -- Deferred Interest Expense Adjustment Liabilities: Vouchers Payable Accrued Salaries Payable Contracts Payable -- Retained Percentage Due to General Fund Due to Internal Service Fund Due to Enterprise Fund Interest Payable Unearned Revenues Deferred Inflows -- Deferred revenues - - - 580,000 580,000 580,000 - - - - (580,000) (580,000) 580,000 - - - - Bonds Payable Premium on Bonds Payable Capital Lease Payable Refunding Bonds Payable Claims and Judgments Payable Compensated Absences Payable Fund Balances Governmental Activities Statement of Activities - - - - - - - - - \\ Springfield Worksheet to Derive Governmental Activities For the Year Ended December 31, 20X4 ` Accounts Cash Investments Due from Addiction Prevention Special Revenue Fund Due from Federal Government Taxes Receivable -- Delinquent Allowance for Uncollectible Taxes -- Delinquent Interest and Penalties Receivable (net) Allowance for Uncollectible Interest and Penalties Tax Liens Receivable Accrued Interest Receivable Inventory of Materials and Supplies Vouchers Payable Accrued Salaries Payable Contracts Payable--Retained Percentage Deferred Revenues (Deferred Inflow) Unearned Revenues Due to Internal Service Fund Due to Enterprise Fund Due to General Fund Total Fund Balance (Preclosing) Totals--All Governmental Funds Debit Credit - Ref. 18 Adjustments Debit Credit - Ref. - 19 Preclosing Trial Balance Debit Credit - - - Economic Development Other Capital Outlay Expenditures Debt Service Expenditures: Principal Retirement Interest - Payment to Refunded Bond Escrow Agent Bond Issue Costs Other Financing Sources Bonds Bond Premium Refunding Bonds General Capital Asset Sale Proceeds Capital Leases Transfers from General Fund Transfers from Water and Sewer Enterprise Fund - - 17 - 19 21 19 22 - 13 14 12 - 18 18 5 5 6 3 7 20 58,000 160,000 667,000 65,000 20,000 37,000 - 580,000 - - 17 17 4 4 4 4 16 4 15 4 - - - - - 18 - Parks and Recreation - - - - - - Revenue: Taxes Interest and Penalties on Taxes Licenses and Permits Fines and Forfeitures Intergovernmental Investment Income Current Operating Expenditures/Expenses: General Government Public Safety Highways and Streets Health and Sanitation 2,273,330 (580,000) Statement of Net Assets Debit Credit - Statement of Activities Debit Credit - - - 58,000 160,000 667,000 85,000 58,000 160,000 667,000 85,000 37,000 37,000 - - - 1 3,330 - 8 9 12 576,670 - 10 14 - 576,670 - - ### Other Financing Uses: Transfers to Addiction Prevention Special Revenue Fund Transfers to Capital Projects Funds Transfers to Refunding Debt Service Fund Payment to Refunded Bond Escrow Agent Governmental Funds--Totals Land Buildings Accumulated Depreciation--Buildings Machinery and Equipment - 550,000 13,000,000 1,700,000 9,000,000 180,000 700,000 220,000 3,700,000 22,550,000 Change in Net Assets 110,000 18 - 3 187,000 2 - 6,000,000 Long-term Claims and Judgments Payable Long-term Compensated Absences Payable Total Net Position Equipment Under Capital Lease Loss on Sale of Capital Assets Capital Lease Liabilities Deferred Interest Expense Adjustment Accrued Interest on Bonds Due from General Fund Due from Enterprise Fund Internal Balances 1 2,200,000 1,750,000 Premium on Bonds Payable 20 20 20 10 - - 800,000 5,300,000 Accumulated Depreciation--Machinery and Equipment Infrastructure (Streets, Roads, and Bridges) Accumulated Depreciation--Infrastructure Construction in Progress Bonds Payable - 1 8 10 9 10 11 1,200,000 500,000 3,330 - 12 910,000 5,300,000 245,000 300,000 4 3 222,000 - 4 18 520,000 1,500,000 50,000 4 2 5 6 5 20,000 772,000 - 15 16 17 18 22 910,000 5,300,000 2,445,000 2,445,000 1,450,000 1,450,000 585,000 585,000 13,000,000 13,000,000 6,520,000 6,520,000 2,900,000 2,900,000 10,000,000 10,000,000 226,670 226,670 700,000 240,000 4,472,000 700,000 240,000 4,472,000 22,550,000 1 3 90,000 41,000 90,000 41,000 80,000 10 18 18 3,718,330 (574,000) 580,000 4,292,330 7 13 12 19 21 21 90,000 41,000 80,000 80,000 - 580,000 580,000 25,274,670 (574,000) 25,848,670 1,624,670 1,624,670 1,624,670 1,624,670 23,650,000 2,198,670 25,848,670 25,848,670 25,848,670 CITY OF SPRINGFIELD Statement of Net Position December 31, 20X4 ASSETS Cash Investments Governmental Activities $ - Primary Government Business-type Activities $ $ - Total - Accounts Receivable (net) Due from Federal Government Internal Balances Taxes Receivable--Delinquent (net) - - - Interest and Penalties Receivable on Taxes (net) Inventory of Materials and Supplies Restricted Cash -- Customer Deposits Land Construction in Progress Buildings (net) Machinery & Equipment (net) Leased Equipment (net) Water and Sewer Lines (net) Infrastructure (net) Total assets - - - 580,000 - 580,000 - - - Amounts due in more than one year Customer Deposits Payable Bonds Payable Premium on Bonds Payable Capital Lease Payable - - - Claims and Judgments Payable Compensated Absences Payable Total liabilities 580,000 - 580,000 585,000 - 585,000 (200,000) (965,000) (580,000) (2,853,330) - - (200,000) (965,000) (580,000) LIABILITIES Vouchers Payable Accrued Salaries Payable Contracts Payable -- Retained Percentage Interest Payable Noncurrent liabilities: Amounts due within one year Bonds Payable Premium on Bonds Payable Capital Lease Payable NET POSITION Net Investment in Capital Assets Restricted for: Capital Projects Debt service Unrestricted Total Net Assets Computation of Net Investment in Capital Assets: Capital assets, net Bonds payable, less unexpended proceeds* Capital lease liabilities Contracts payable Net Investment in Capital Assets $ $ 585,000 585,000 *Unexpended proceeds = $1,535,000 - $1,250,000 + $300,000 = $585,000 (Assumes that restricted ) resources are expended before the unrestricted resources transferred in from the General Fund. Net assets restricted for addiction prevention would be negative and therefore cannot be reported. Negative restricted net assets are not permitted by GASB Statement 34. $ Springfield Reconciliation of Total Fund Balances of Governmental Funds to Net Assets of Governmental Activities December 31, 20X4 Total Fund Balances, All Governmental Funds $ - Capital assets used in governmental activities are not financial resources and therefore are not reported in the funds. - Certain other amounts are not available to pay current-period expenses and are therefore deferred in the funds. - Certain amounts are recorded only in accrual accounting and are not included in the fund financial statements. - Long-term liabilities, including bonds payable, related interest payable, and other related accounts, are not due and payable in the current period and therefore are not reported in the governmental funds. (580,000) Internal Service Funds are used by management to charge the costs of certain activities, such as communication services, to individual funds. The assets and liabilities are included in governmental activities in the Statement of Net Position. Net Position of the Governmental Activities $ (580,000) - City of Springfield Statement of Activities For the Year Ended December 31, 20X4 Program Revenues Functions: Primary government Governmental activities: General government Public safety Highways and streets Health and sanitation Parks and recreation Expenses $ Interest Total governmental activities Business-type activities: Water and Sewer Activity Total primary government Charges for Services $ 58,000 160,000 667,000 65,000 37,000 Net (Expenses) Revenues and Changes in Net Assets Primary Government Operating Grants and Contributions $ - $ - Capital Grants Governmental Activities $ - - $ Business-Type Activities (58,000) (160,000) (667,000) (65,000) (37,000) $ Total - $ (58,000) (160,000) (667,000) (65,000) (37,000) (3,330) 983,670 - - - 3,330 (983,670) - 3,330 (983,670) - - - - - - - (983,670) - (983,670) 2,000 62,000 (62,000) 2,000 (981,670) 401,670 (580,000) 2,519,400 2,519,400 2,000 62,000 (62,000) 2,000 (981,670) 2,921,070 1,939,400 983,670 $ - $ - $ General revenues: Property taxes, levied for general purposes Unrestricted grant revenues Unrestricted investment income Transfers Total general revenues, special items and transfers Change in Net Position Net Position, January 1, 20X4 Net Position, December 31, 20X4 - $ $ $ CITY OF SPRINGFIELD Reconciliation of Total Changes in Fund Balance of Governmental Funds to Changes in Net Position of Governmental Activities For the Year Ended December 31, 20X4 Total Changes in Fund Balance, All Governmental Funds $ Governmental funds report capital outlays as expenditures. However, in the Statement of Activities, the cost of those assets is allocated over their estimated useful lives as - (987,000) Depreciation Expense. The capital outlays ($3,467,400) exceeded depreciation expense ($995,000) in the current period. In the Statement of Activities, gains and losses from sales of capital assets are reported, whereas in the governmental funds only the proceeds of the sale are reported. Thus the change in net position differs from the change in fund balance by the book value of the assets sold. - Revenues in the Statement of Activities that do not provide current financial resources are not reported as revenues in the funds. 2,000 Bond proceeds proide current financial resources to the governmental funds, but issuing debt increases long-term liabilities in the Statement of Net Position. Repayment of bond principal is an expenditure in the governmental funds, but the repayment reduces longterm liabilities in the Statement of Net Position. - Interest expenditures are recognized when due; interest expense is accrured. This is the amount by which the accrual exceeds the amount due. 3,330 This amount represents expenses that do not require current financial resources and are not reported as expenditures. - Changes in Net Position $ (981,670) 1 Balance Checkers Account Title 1 Cash - - Balances Beginning of Year Dr. Cr. 1,000,000 1 Investments 394,270 # General Fund FY 20X4 Transactions - Transactions Dr. Cr. given given 200,000 559,140 given 243,000 480,000 # 200,000 given 1 Allowance for Uncollectible Taxes -- Current 80,900 1 Allowance for Uncollectible Taxes -- Delinquent 1 Interest and Penalties Receivable 20,000 1 Allowance for Uncollectible Interest and Penalties 1 Accrued Interest Receivable 1 Inventory of Materials and Supplies 216,000 given 23,000 33,600 17,500 2,000 given 53,000 19,000 given 1 Vouchers Payable 1,300,000 27,000 given 2,000 112,000 - Balances End of Year 2 Taxes Receivable -- Current 1 Taxes Receivable -- Delinquent 394,270 Cr. - - Operating Statement Dr. 2 Cr. - 454,270 - Balance Sheet Dr. 1 Cr. 2,002,140 2,002,140 Dr. 2,002,140 280,000 280,000 - - - 280,000 - - - - - - - - - - - - - - - (135,100) - 135,100 - - - 135,100 (1,297,000) - 1,297,000 - - - 1,297,000 6,600 6,600 - - - 6,600 - (17,500) - 17,500 - - - 17,500 - - - - - - - 202,200 202,200 - - - 202,200 - (44,400) - 44,400 - - - 44,400 (13,050) - 13,050 - - - 13,050 - - - - - - - - - - 168,200 235,800 168,200 given 11 Accrued Salaries Payable 1 Deferred Revenues 1 Due to Internal Service Fund 1 Fund Balance 50,000 50,000 8,000 13,050 given 61,000 1,442,000 (69,000) - 69,000 - - - 69,000 (1,442,000) - 1,442,000 - - - 1,442,000 Estimated Revenues given 2,032,500 2,032,500 given - - - - - - - Appropriations given 1,963,000 1,963,000 given - - - - - - - Budgetary Fund Balance given 69,500 69,500 given Encumbrances given 19,000 Outstanding Encumbrances 2 Revenues -- Property Taxes 2 Revenues -- Fines and Forfeitures 60,000 30,000 19,000 given 1,580,000 48,480 given - - - - - - - 19,000 19,000 - - - - - 41,000 41,000 - - - - - (1,550,000) - 1,550,000 - 1,550,000 - - (48,480) - 48,480 - 48,480 - - 2 Revenues -- Integovernmental 346,200 given (346,200) - 346,200 - 346,200 - - 2 Revenues -- Licenses and Permits 122,460 given (122,460) - 122,460 - 122,460 - - 40,000 given (40,000) - 40,000 - 40,000 - - 18,000 175,700 175,700 - 175,700 - - - 15,000 619,300 619,300 - 619,300 - - - 3,500 251,550 251,550 - 251,550 - - - 6,630 187,170 187,170 - 187,170 - - - 13,940 240,160 240,160 - 240,160 - - - 2 Revenues -- Interest 2 Expenditures -- General Government given 191,000 900 given 1,800 given 615,000 13,500 given 5,800 given 250,000 3,300 given 1,750 given 189,400 2,900 given 1,500 given 250,000 1,900 given 2,200 2 Expenditures -- Public Safety 2 Expenditures -- Highways and Streets 2 Expenditures -- Health & Sanitation 2 Expenditures -- Parks and Recreation 1 Due to Water and Sewer Fund (22,500) - 22,500 - - - 22,500 2 Expenditures -- Capital Outlay 500,000 22,500 given 500,000 500,000 - 500,000 - - - 2 Due from Addiction Prevention SRF 250,000 250,000 250,000 - 250,000 - - - 2 Transfer to Addiction Prevention SRF 60,000 60,000 60,000 - 60,000 - - - 2 Transfer to Parks and Recreation CPF 200,000 200,000 200,000 - 200,000 - - - - - - - - - - - - - - - - - 100,000 (100,000) - 100,000 - 100,000 - - 35,000 (29,400) - 29,400 - 29,400 - - 72,000 (72,000) - 72,000 - 72,000 - - - - - - - - - 90,000 (80,000) - 80,000 - 80,000 - - - - - - - - - 5,034,820 5,429,090 2,483,880 2,483,880 2,388,540 95,340 2,483,880 2,490,940 95,340 2,586,280 3,040,550 3,040,550 2 Transfer from Water and Sewer EF 2 Revenues -- Interest and Penalties 5,600 2 OFS -- Proceeds from Sale of Equipment 1 Tax Liens Receivable 2 OFS -- Capital Lease 10,000 1,649,500 Change in Fund Balance 1,649,500 8,209,690 8,603,960 CITY OF SPRINGFIELD GENERAL FUND Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended December 31, 20X4 Revenues: Taxes Interest and penalties on taxes Licenses and permits Fines and forfeitures Intergovernmental Investment income Total Revenues Expenditures: Operating General government Public safety Highways and streets Health and sanitation Parks and recreation Capital Outlay Total Expenditures Excess of Revenues over Expenditures Other Financing Sources and (Uses): Transfer from Enterprise Fund Proceeds from sale of general capital assets Capital leases Transfer to Special Revenue Fund Transfers to Capital Projects Funds Transfer to Debt Service Fund Total Other Financing Sources and (Uses) $ 1,550,000 29,400 122,460 48,480 346,200 40,000 $ 175,700 619,300 251,550 187,170 240,160 500,000 1,973,880 162,660 100,000 72,000 80,000 (60,000) (200,000) (8,000) Net Change in Fund Balance Fund Balance, January 1, 20X4 Fund Balance, December 31, 20X4 2,136,540 154,660 $ 1,442,000 1,596,660 CITY OF SPRINGFIELD GENERAL FUND Balance Sheet December 31, 20X4 Assets Cash Investments Accrued interest receivable Taxes receivable--delinquent $ Less: Allowance for uncollectible delinquent taxes (1,297,000) Tax liens receivable Interest and penalties receivable on taxes 6,600 Less: Allowance for uncollectible interest and penalt (17,500) Inventory of materials and supplies Due from Special Revenue Fund Total Assets $ 2,002,140 280,000 (1,297,000) - $ (10,900) 202,200 1,176,440 $ 148,950 Liabilities, Deferred Inflows, and Fund Balance Liabilities: Vouchers payable Accrued salaries payable Due to Internal Service Fund Due to Enterprise Fund $ 44,400 13,050 69,000 22,500 Deferred Inflows -- Deferred revenues - Fund Balance 202,200 825,290 Total Liabilities and Fund Balance $ 1,027,490 1,176,440 569,170 CITY OF SPRINGFIELD GENERAL FUND Statement of Revenues, Expenditures, and Changes in Fund Balance Budget vs. Actual (GAAP Basis) For the Year Ended December 31, 20X4 Original Budget Final Budget Revenues: Taxes Interest and penalties on taxes Licenses and permits Fines and forfeitures Intergovernmental Investment income Total Revenues 1,500,000 15,500 122,000 50,000 300,000 45,000 2,032,500 1,500,000 15,500 122,000 50,000 300,000 45,000 2,032,500 Expenditures: Operating: General government Public safety Highways and streets Health and sanitation Parks and recreation Capital Outlay Total Expenditures Excess of Revenues over Expenditures 260,000 868,000 290,000 215,000 330,000 1,963,000 69,500 Actual 1,550,000 29,400 122,460 48,480 346,200 40,000 2,136,540 50,000 13,900 460 (1,520) 46,200 (5,000) 104,040 260,000 868,000 290,000 215,000 330,000 80,000 2,043,000 (10,500) 175,700 619,300 251,550 187,170 240,160 500,000 1,973,880 162,660 84,300 248,700 38,450 27,830 89,840 (420,000) 69,120 173,160 - 100,000 80,000 (60,000) (270,000) (729,965) (879,965) 100,000 72,000 80,000 (60,000) (200,000) (8,000) 72,000 (70,000) (729,965) (727,965) Net Change in Fund Balance 69,500 (890,465) 154,660 (554,805) Fund Balance, January 1 Fund Balance, December 31 1,442,000 1,511,500 1,442,000 551,535 1,442,000 1,596,660 (554,805) Other Financing Sources and (Uses): Transfer from Enterprise Fund Proceeds from sale of general capital assets Capital leases Transfer to Special Revenue Fund Transfers to Capital Projects Funds Transfer to Debt Service Fund Total Other Financing Sources and (Uses) $ $ $ Variance-Favorable (Unfavorable) $ $ 1 Addiction Prevention Special Revenue Fund FY 20X4 Transactions Balance Checks - - - Balances Beginning of Year Dr. Cr. - Transactions 1 Cash 4 6 9 Dr. 500,000 450,000 60,000 1 Due from Federal Government 7 50,000 1 Vouchers Payable 5 430,000 450,000 75,000 1 Due to GF 8 250,000 500,000 Account Title - # - Balances End of Year Cr. 430,000 250,000 # 5 8 Dr. 330,000 Cr. - - - Operating Statement Dr. 2 Cr. - - - - Balance Sheet Dr. 1 Cr. 330,000 - 50,000 - - - 50,000 - 3 7 - 95,000 - - - 95,000 4 - 250,000 - - - 250,000 - - - - - - 1 Fund Balance 1 530,000 530,000 10 - - - - - - Appropriations 10 525,000 525,000 1 - - - - - - Budgetary Fund Balance 10 5,000 5,000 1 - - - - - - 450,000 50,000 6 7 - 500,000 - 500,000 - - 525,000 - 525,000 - - - - 60,000 - 60,000 - - - - - - - - 905,000 905,000 525,000 35,000 560,000 560,000 380,000 380,000 345,000 35,000 380,000 Estimated Revenues 2 Revenue -- Operating Grants 2 Expenditures -- Public Safety 3 7 450,000 75,000 60,000 2 Transfer from GF Change in Fund Balance - 3,325,000 3,325,000 9 560,000 CITY OF SPRINGFIELD ADDICTION PREVENTION SPECIAL REVENUE FUND Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended December 31, 20X4 Revenues: Operating Grant