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 $ 3,657 Investments 7,317 Taxes ReceivableDelinquent 5,806 Allowance for Uncollectible Delinquent Taxes $ 67 Due from Other Funds 663 Due from Other Governments 6,379 Land 8,810 Buildings 25,860 Accumulated DepreciationBuildings 8,039 Infrastructure 85,804 Accumulated DepreciationInfrastructure 45,639 Machinery & Equipment 28,900 Accumulated DepreciationMachinery & Equipment 13,875 Accounts Payable 6,854 Accrued Liabilities 4,855 Due to Other Funds 784 Current Portion of Long-term Debt 8,780 Bonds Payable 29,600 Net PositionNet Investment in Capital Assets 45,071 Net PositionRestricted for Debt Service 2,213 Net PositionUnrestricted 6,634 Program RevenuesGeneral Government Charges for Services 4,429 Program RevenuesPublic Safety Charges for Services 1,068 Program RevenuesCulture & Recreation Charges for Services 377 Program RevenuesGeneral Government Operating Grants & Contributions 325 Program RevenuesPublic Works Capital Grants & Contributions 1,716 General RevenuesProperty Taxes 13,755 General RevenuesInterest & Penalties 782 General RevenuesInterest Income 435 ExpensesGeneral Government 2,504 ExpensesPublic Safety 11,631 ExpensesPublic Works 5,329 ExpensesCulture & Recreation 1,871 ExpensesInterest on Long-term Debt 767 $ 195,298 $ 195,298 The restricted net position for debt service increased $123 for FY 2017. The net position accounts do not reflect FY 2017 depreciation of $1,630 that was allocated to the functions of government, or the towns decision to designate $1,080 for street repair. (All 000s omitted.) Required Town of Freaz Statement of Net position As of June 30, 2017 (000s omitted Current Assets: Cash Investments Taxes - Receivables - Delinquent (Net) Total Current Assets Capital Assets: Other Capital Assets (Net Depreciation) Total Capital Assets Total Assets Liabilities Current Liabilities: Total Current Liabilities 0 Long-Term Liabilities: 0 Total Liabilities Net Position Net Investment in Capital Assets Restricted - Debt Service Unrestricted: Designated-Street Repair Undesignated - Street Repair Total Net Position - Using the trial balance provided by the town, prepare a government-wide statement of activities. (Enter your answers in thousands. Negative amounts should be indicated by a minus sign.) Town of Freaz Statement of Activities For the Year Ended June 30, 2017 (000s omitted Program Revenues Governmental Activities Functions Expenses Charges for Services Operating Grants and Contributions Capital Grants and Contributions Net (Expenses) revenues and Changes in Net Position Primary Government: Total Governmental Activities - - - - - General Revenues: Total General Revenues Increase in Unrestricted Net Position Net Position, July 1, 2016 Net Position, June 30, 2017