Following is the governmental activities preclosing 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.

The restricted net position for debt service increased $115 for FY 2023. The net position accounts do not reflect FY 2023 depreciation of $1,510 that was allocated to the functions of government. (All 000s omitted.)

TOWN OF FREAZ Preclosing Trial Balance As of June 30, 2023 (@ees omitted) Credits Debits $ 3,653 7,313 5,802 $ 63 659 6,371 8,790 25,820 8,035 85,796 45,631 28,860 Cash Investments Taxes Receivable-Delinquent Allowance for Uncollectible Delinquent Taxes Due from Other Funds Due from Other Governments Land Buildings Accumulated Depreciation-Buildings Infrastructure Accumulated Depreciation-Infrastructure Machinery & Equipment Accumulated Depreciation-Machinery & Equipment Accounts Payable Accrued Liabilities Due to Other Funds Current Portion of Long-term Debt Bonds Payable Net Position-Net Investment in Capital Assets Net Position-Restricted for Debt Service Net Position-Unrestricted Program Revenues-General Government-Charges for Services Program Revenues-Public Safety-Charges for Services Program Revenues-Culture & Recreation-Charges for Services Program Revenues-General Government-Operating Grants & Contributions Program Revenues-Public Works-Capital Grants & Contributions General Revenues-Property Taxes General Revenues-Interest & Penalties General Revenues-Interest Income Expenses-General Government Expenses-Public Safety Expenses-Public Works Expenses-Culture & Recreation Expenses-Interest on Long-term Debt 13,855 7,054 4,835 776 8,740 29,400 45,115 2,193 6,626 4,425 1,052 373 321 1,788 13,735 774 415 2,496 11,619 5, 325 1,859 763 $195, 126 $195, 126 TOWN OF FREAZ Statement of Net Position As of June 30, 2023 (000s Omitted) Assets Current Assets S Cash Investments Taxes Receivable (Net) Due from Other Governments 00 3.653 7,313 5,739 >> 6,371 23.076 Total Current Assets Capital Assets: Land > S 8,790 Other Capital Assets (Net of Depreciation) Buildings (Net) Machinery and Equipment (Net) 17,785 15,005 Total Capital Asstes Total Assets Liabilities 41,580 64,656 Current Liabilities: Accounts Payable 7,054 Accrued Liabilities Due to Other Funds (Net) 4,835 117 Current Portion of Long-Term Debt 8,740 20,748 Total Current Liabilities Long-Term Liabilities: Bonds Payable > 29,400 50.146 Total Liabilities Net Position Net Investment in Capital Assets Restricted-Debt Service 43.605 2,308 8.992 X Unrestricted Total Net Position S 54,905