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 $1290,800), and the change in net position of governmental activities was $250200. During the year Annette Issued $3,150,000 in general obligation bonds at a premium of 101. The bonds we to be used for a construction project. The county acquired $3,910,000 in capital assets and sold capital assets with a book value of $558.000 for $586.600. At the beginning of the period, accrued liabilities related to long term debt were $478.000 and at the end of the period, they called 5510.000. During the period 5660.000 of serial bonds were retired. Depreciation on capital assets totaled $619.000. Revenue acred for the period but not available for use totaled $372600 Required Prepare a reconciliation of the change in governmental fund balance to the change to 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 Not change in fund balance-governmental finds 5 2000 Amounts reported for governmental activities in the statement of active different because Governmental funds report capital outlays as expenditures. Howeverin the statement of activities the cost of those assotsis allocated over the estimated useful less depreciation 3291 expense A sale of capital assets resulted in again on sale reported in the statement of activities whereas the governmental funds reported the proceeds from the sales another financing 28 source Bond proceeds provide content financial resources to government funds but wing det increases long formalities in the statement of net position Debt payments use current financial sources of government funds, but inget decreases long term is in the statement of not position Some expenses reported in the statement of actes do not require the use of current financial resources and therefore we not reported an expenditures governmental tunds Som revenues reported in the statement of activities do not provide current in and are not reported as revenues in governmental Munds Change in net position of governmental activities 530000 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 $1290,800), and the change in net position of governmental activities was $250200. During the year Annette Issued $3,150,000 in general obligation bonds at a premium of 101. The bonds we to be used for a construction project. The county acquired $3,910,000 in capital assets and sold capital assets with a book value of $558.000 for $586.600. At the beginning of the period, accrued liabilities related to long term debt were $478.000 and at the end of the period, they called 5510.000. During the period 5660.000 of serial bonds were retired. Depreciation on capital assets totaled $619.000. Revenue acred for the period but not available for use totaled $372600 Required Prepare a reconciliation of the change in governmental fund balance to the change to 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 Not change in fund balance-governmental finds 5 2000 Amounts reported for governmental activities in the statement of active different because Governmental funds report capital outlays as expenditures. Howeverin the statement of activities the cost of those assotsis allocated over the estimated useful less depreciation 3291 expense A sale of capital assets resulted in again on sale reported in the statement of activities whereas the governmental funds reported the proceeds from the sales another financing 28 source Bond proceeds provide content financial resources to government funds but wing det increases long formalities in the statement of net position Debt payments use current financial sources of government funds, but inget decreases long term is in the statement of not position Some expenses reported in the statement of actes do not require the use of current financial resources and therefore we not reported an expenditures governmental tunds Som revenues reported in the statement of activities do not provide current in and are not reported as revenues in governmental Munds Change in net position of governmental activities 530000