Following is the information of the Water Utility Fund for fiscal year 2020.

1. The amount in the Accrued Utility Revenue account was reversed.
2. Billings to customers for water usage during fiscal year 2020 totaled $3,066,481; $199,320 of the total was billed to the General Fund.
3. Cash in the amount of $267,315 was received. The cash was for interest earned on investments and $84,306 in accrued interest.
4. Expenses accrued for the period were management and administration, $370,541; maintenance and distribution, $708,476; and treatment plant, $714,785.
5. Cash receipts for customer deposits totaled $2,499.
6. Cash collections on customer accounts totaled $3,030,724, of which $215,749 was from the General Fund.
7. Cash payments for the period were as follows: Accounts Payable, $1,505,995; interest (which includes the interest payable), $407,661; bond principal, $395,000; machinery and equipment, $576,135; and return of customer deposits, $899.
8. A state grant amounting to $468,231 was received to help pay for new water treatment equipment.
9. Accounts written off as uncollectible totaled $9,871.
10. The utility fund transferred $788,656 in excess operating income to the General Fund.
11. Adjusting entries for the period were recorded as follows: depreciation on buildings was $236,652 and on machinery and equipment was $354,978; the allowance for uncollectible accounts was increased by $14,703; an accrual for unbilled customer receivables was made for $690,143; accrued interest income was $15,625; and accrued interest expense was $60,540.
12. The Revenue Bond Payable account was adjusted by $395,000 to record the current portion of the bond.
13. Closing entries and necessary adjustments were made to the net position accounts.

Following is the June 30, 2019, statement of net position for the City of Bay Lake Water Utility Func CITY OF BAY LAKE Water Utility Fund Statement of Fund Net Position June 30, 2019 Assets Current assets: Cash and investments Accounts receivable (net of $13,370 provision for uncollectible accounts) Accrued utility revenue Due from General Fund Interest receivable $ 1,775,515 306,939 499,700 29,294 81,953 2,693,401 Total current assets Restricted assets: Cash 9,196 Capital assets: Land Buildings (net of $3,421,127 in accumulated depreciation) Machinery and equipment (net of $5,131,625 in accumulated depreciation) $1,781,529 5,216,129 8,491,208 Total capital assets (net) Total Assets 15,488,866 18,191,463 Liabilities Current liabilities: Accounts payable Interest payable Current portion of long-term debt 532,203 131,810 395,000 Total current liabilities Customer deposits Revenue bond payable 1,059,013 Liabilities payable from restricted assets: 9,196 Long-term liabilities: 11,455,000 12, 523, 209 Total Liabilities Net Position Net investment in capital assets 3,686,563 1,981,691 $ 5,668,254 Unrestricted CITY OF BAY LAKE Water Utility Fund Statement of Revenue, Expenses, and Changes in Fund Net Position For The Year Ended June 30, 2020 Operating Income Operating Expenses: Total Operating Expenses Nonoperating Revenue/Expenses Total Nonoperating Revenue/Expenses Income Before Transfers and Contributions Interfund Transfers Out Capital Contributions Change in Net Position Net Position, July 1, 2019 Net Position, June 30, 2020 Statement of Net Position June 30, 2020 Assets Current Assets Total Current Assets Restricted Assets: Capital Assets: Total Capital Assets Total Assets Liabilities Current Liabilities: Total Current Liabilities Liabilities Payable from Restricted Assets: Long-Term Liabilities Total Liabilities Following is the June 30, 2019, statement of net position for the City of Bay Lake Water Utility Func CITY OF BAY LAKE Water Utility Fund Statement of Fund Net Position June 30, 2019 Assets Current assets: Cash and investments Accounts receivable (net of $13,370 provision for uncollectible accounts) Accrued utility revenue Due from General Fund Interest receivable $ 1,775,515 306,939 499,700 29,294 81,953 2,693,401 Total current assets Restricted assets: Cash 9,196 Capital assets: Land Buildings (net of $3,421,127 in accumulated depreciation) Machinery and equipment (net of $5,131,625 in accumulated depreciation) $1,781,529 5,216,129 8,491,208 Total capital assets (net) Total Assets 15,488,866 18,191,463 Liabilities Current liabilities: Accounts payable Interest payable Current portion of long-term debt 532,203 131,810 395,000 Total current liabilities Customer deposits Revenue bond payable 1,059,013 Liabilities payable from restricted assets: 9,196 Long-term liabilities: 11,455,000 12, 523, 209 Total Liabilities Net Position Net investment in capital assets 3,686,563 1,981,691 $ 5,668,254 Unrestricted CITY OF BAY LAKE Water Utility Fund Statement of Revenue, Expenses, and Changes in Fund Net Position For The Year Ended June 30, 2020 Operating Income Operating Expenses: Total Operating Expenses Nonoperating Revenue/Expenses Total Nonoperating Revenue/Expenses Income Before Transfers and Contributions Interfund Transfers Out Capital Contributions Change in Net Position Net Position, July 1, 2019 Net Position, June 30, 2020 Statement of Net Position June 30, 2020 Assets Current Assets Total Current Assets Restricted Assets: Capital Assets: Total Capital Assets Total Assets Liabilities Current Liabilities: Total Current Liabilities Liabilities Payable from Restricted Assets: Long-Term Liabilities Total Liabilities