Exercise 9-24 (Static) Change in Net Position of Governmental Activities [LO 9-4]

Following is the information concerning operating activity for Annette County. For the year ended June 30, the net change in total governmental fund balances was $(289,200), and the change in net position of governmental activities was $118,400. During the year, Annette issued $3,000,000 in general obligation bonds at a premium of 101. The bonds are to be used for a construction project. The county acquired $3,750,000 in capital assets and sold capital assets with a book value of $550,000 for $570,600. At the beginning of the period, accrued liabilities related to long-term debt were $470,000 and at the end of the period, they totaled $494,000. During the period $500,000 of serial bonds were retired. Depreciation on capital assets totaled $603,000. Revenue accrued for the period but not available for use totaled $364,600. Required Prepare a reconciliation of the change in governmental fund balance to the change in net position of governmental activities. (Decreases should be indicated with a minus sign.)

ANNETTE COUNTY Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances-Governmental Funds to the Statement of Activities For the Year Ended June 30, 20XX