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For Year 1, Crescent City displayed an increase in proprietary fund net position of $380,000 and excess of revenues and other financing sources over
For Year 1, Crescent City displayed an increase in proprietary fund net position of $380,000 and excess of revenues and other financing sources over expenditures and other financing uses for all governmental funds of $450,000. The government also maintained an internal service fund whose purpose was to provide maintenance services to general government buildings. The internal service fund had an increase in net position of $15,000. During the year, the governmental funds had the following: Capital outlays.... $500,000 Proceeds from long-term debt (LTD) issue.. ..350,000 Principal payments on LTD.. 45,000 Interest expenditures on LTD.. ..14,000 Depreciation expense on governmental assets.. ..75,000 Proceeds from the sale of land (net book value $150,000)..........190,000 Calculate the increase (decrease) in net position displayed in the government-wide statement of activities for governmental activities. SHOW WORK FOR PARTIAL CREDIT.
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