Following is the June 30, 2017, statement of net position for the City of Bay Lake Water Utility Fund.

CITY OF BAY LAKE
Water Utility Fund
Statement of Fund Net Position
June 30, 2017
Assets
Current assets:
Cash and investments				$	1,775,865
Accounts receivable (net of $13,373 provision for uncollectible accounts)					307,008
Accrued utility revenue					499,800
Due from General Fund					29,300
Interest receivable					81,970
Total current assets					2,693,943
Restricted assets:
Cash					9,198
Capital assets:
Land	$	1,781,917
Buildings (net of $3,421,873 in accumulated depreciation)		5,217,267
Machinery and equipment (net of $5,132,745 in accumulated depreciation)		8,493,062
Total capital assets (net)					15,492,246
Total Assets					18,195,387
Liabilities
Current liabilities:
Accounts payable		532,318
Interest payable		131,838
Current portion of long-term debt		393,000
Total current liabilities					1,057,156
Liabilities payable from restricted assets:
Customer deposits					9,198
Long-term liabilities:
Revenue bond payable					11,397,000
Total Liabilities					12,463,354
Net Position
Net investment in capital assets					3,759,814
Unrestricted					1,972,219
				$	5,732,033

Following is the information of the Water Utility Fund for fiscal year 2017.

(1)	The amount in the Accrued Utility Revenue account was reversed.
(2)	Billings to customers for water usage during fiscal year 2017 totaled $3,100,985; $201,563 of the total was billed to the General Fund.
(3)	Cash in the amount of $270,323 was received. The cash was for interest earned on investments and $85,254 in accrued interest.
(4)	Expenses accrued for the period were: management and administration, $374,708; maintenance and distribution, $716,443; and treatment plant, $722,823.
(5)	Cash receipts for customer deposits totaled $2,527.
(6)	Cash collections on customer accounts totaled $3,064,682, of which $218,167 was from the General Fund.
(7)	Cash payments for the period were as follows: Accounts Payable, $1,522,873; interest (which includes the interest payable), $412,229; bond principal, $393,000; machinery and equipment, $573,217; and return of customer deposits, $895.
(8)	A state grant amounting to $466,147 was received to help pay for new water treatment equipment.
(9)	Accounts written off as uncollectible totaled $9,827.
(10)	The utility fund transferred $785,140 in excess operating income to the General Fund.
(11)	Adjusting entries for the period were recorded as follows: depreciation on buildings was $235,596 and on machinery and equipment was $353,394; the allowance for uncollectible accounts was increased by $14,637; an accrual for unbilled customer receivables was made for $687,045; accrued interest income was $15,555; and accrued interest expense was $60,268.
(12)	The Revenue Bond Payable account was adjusted by $393,000 to record the current portion of the bond.
(13)	Closing entries and necessary adjustments were made to the net position accounts.