balafices. nu The fund-basis financial stat s of the City of Cottonwood have been he year 2015 and appear in the first tab of the Excel spread- t provided with this exie In addition, the Statement of Net Position sheet provided the previous fiscal year is provide beginning d and should be used to determine balances for accounts not appearing in the fund-basis statements. Th e following information is also available: a. Capital Assets: Capital assets purchased by govenmental funds are charged to bal net position in the government-wide financial statements. ital expenditure and do not appear as assets in the fund-basis ance sheet. However, the balance is reflected in the statement of