Discrete presentation, unlike blending, may combine two or more entities into a single column. Hawkins Township has two component units that it is required to include in its reporting entity. The first, a housing authority, maintains two funds: a general fund and a special revenue fund. The second, a transportation authority, has but one fund: an enterprise fund. The township it general fund. illions). The fund balance sheets, in highly condensed form, of all three entities are shown here (in m presented, as appropriate, are capital assets and long-term obligations that are not recognized on the fund statements because the statements are on a modified accrual basis. Hawkins Township Capital Assets and Long-Term Obligations General Fund $800 Cash and investments Capital assets Less: accumulated depreciatiorn Net capital assets $140 (40) $100 S100 S 30 Total assets $800 Long-term obligations Fund balance $800 $800 Total long-term obligations and fund balances S 30 Transportation Authority Cash and investments Capital assets Less: accumulated depreciation Net capital assets S 50 800 200 600 $650 $200 S450 Total assets Long-term obligations Fund balance Total long-term obligations and fund balance $650