E9-23 Government-wide Financial Statements [LO 9-5]

Following is the governmental activities pre-closing trial balance for the Town of Freaz. Freaz is a relatively small town and, as a result, it has only governmental funds (i. e., it uses no proprietary funds). There are no component units. To complete the financial statements for its annual report, the town must prepare a government-wide statement of net position and a statement of activities.

TOWN OF FREAZ
Pre-closing Trial Balance
As of June 30, 2017
(000s omitted)
	Debits				Credits
Cash	$	3,655
Investments		7,315
Taxes ReceivableDelinquent		5,804
Allowance for Uncollectible Delinquent Taxes					$	65
Due from Other Funds		661
Due from Other Governments		6,375
Land		8,800
Buildings		25,840
Accumulated DepreciationBuildings						8,037
Infrastructure		85,800
Accumulated DepreciationInfrastructure						45,635
Machinery & Equipment		28,880
Accumulated DepreciationMachinery & Equipment						13,865
Accounts Payable						6,954
Accrued Liabilities						4,845
Due to Other Funds						780
Current Portion of Long-term Debt						8,760
Bonds Payable						29,500
Net PositionNet Investment in Capital Assets						45,093
Net PositionRestricted for Debt Service						2,203
Net PositionUnrestricted						6,630
Program RevenuesGeneral Government Charges for Services						4,427
Program RevenuesPublic Safety Charges for Services						1,060
Program RevenuesCulture & Recreation Charges for Services						375
Program RevenuesGeneral Government Operating Grants & Contributions						323
Program RevenuesPublic Works Capital Grants & Contributions						1,712
General RevenuesProperty Taxes						13,745
General RevenuesInterest & Penalties						778
General RevenuesInterest Income						425
ExpensesGeneral Government		2,500
ExpensesPublic Safety		11,625
ExpensesPublic Works		5,327
ExpensesCulture & Recreation		1,865
ExpensesInterest on Long-term Debt		765
	$	195,212			$	195,212

The restricted net position for debt service increased $119 for FY 2017. The net position accounts do not reflect FY 2017 depreciation of $1,570 that was allocated to the functions of government, or the towns decision to designate $1,060 for street repair. (All 000s omitted.)

Required

Using the trial balance provided by the town, prepare a government-wide statement of net position. (Enter your answers in thousands.)