General Fund	Capital Projects Fund	Total Governmental Funds	Adjustments to Government-wide	Statement of Net Position
Assets
Cash		$11,034,232	$4,825,591	$15,859,823		$15,859,823
Investments		683,722		683,722		683,722
Taxes Receivable - Gross		131,534		131,534		131,534
Interest Receivable		2,487		2,487		2,487
Prepaid Items		596,901		596,901		596,901
Capital Assets				-		-
Accumulated Depreciation				-		-
Total Assets		$12,448,876	$4,825,591	$17,274,467	$-	$17,274,467
Liabilities, Deferred Inflows and Fund Balances
Liabilities
Accounts Payable		877,468	324,609	1,202,077		1,202,077
Accrued Liabilities		400,602		400,602		400,602
Contracts payable - Retained %			259,782	259,782		259,782
Long-term Notes Payable				-		-
Total Liabilities		1,278,070	584,391	1,862,461	-	1,862,461
Deferred Inflows
Deferred Inflows - Property Taxes		94,000		94,000		94,000
Fund Balances
Nonspendable
Prepaid Items		596,901		596,901
Assigned				-
Library purchases		585,220		585,220
Capital projects			4,241,200	4,241,200
Unassigned		9,894,685		9,894,685
Total Fund Balances		11,076,806	4,241,200	15,318,006
Net Position
Net investment in capital assets
Unrestricted
						$-

_{General Fund Capital Projects Fund Total Governmental Funds Adjustments to Government-wide Statement of Activities Revenues Property Taxes $20,205,519 20,205,519 20,205,519 Intergovernmental revenues 2,269,751 145,801 2,415,552 2,415,552 Investment income: Interest income 461,684 461,684 461,684 Net increase in fair value of investments 161,691 161,691 161,691 Total Revenues 23,098,645 145,801 23,244,446 - 23,244,446 Expenditures / Expenses Current: Public services 14,032,711 14,032,711 14,032,711 Library Materials 5,474,632 5,472,514 5,472,514 Depreciation - Capital Outlay 453,033 7,539,481 7,994,632 7,994,632 Debt Service - - Principal 1,340,000 1,340,000 1,340,000 Interest 830,904 830,904 830,904 Total Expenditures 22,131,280 7,539,481 29,670,761 - 29,670,761 Excess (Deficiency) of Revenues Over Expenditures 967,365 (7,393,680) (6,426,315) - (6,426,315) Other financing sources (uses) Proceeds of debt 6,370,000 6,370,000 6,370,000 Transfers in 2,500,000 2,500,000 2,500,000 Transfers out (2,500,000) (2,500,000) (2,500,000) total other financing sources (uses) (2,500,000) 8,870,000 6,370,000 - 6,370,000 Net Change in Fund Balance/Net Position (1,532,635) 1,476,320 (56,315) (56,315) Fund Balance/Net Position, January 1 12,609,441 2,764,880 15,374,321 15,374,321 Fund Balance/Net Position, December 31 $11,076,806 $4,241,200 $15,318,006 $15,318,006 Proof for Beginning Net Position Beginning Fund Balances 15,374,321 entry: a entry: b entry: c 15,374,321}

120 Eneities, including Aublic Colleges and Universties 35 Requilre Escel template provided to conglete the fallowing rogitmens, the journal entries necessary to convert the governmentail fend s the journal entries to the (shaded) Adjustments column to peoduce uJse the tab is provided for each roquirement. Use the Excel nglate provided no complete the fol a Prepare journal eatries for each of the above aticial statements to the accrual basis of accounting. cestries and calceulate the ending balance for ecax of Activities. You do not have to post amounts debited o a Statement Prepare a Statement of Net Position as of June 30, 2015 d Prepure a Statement of Revenues, Expenses, and Chanee h Prepare closing to "(beginning) net position. These have been reflected in ite et position Expenses, and Changes in Net aoe journal entries to the (shaded) Adjustments colume to produce Post of Net Position. Calculate the appropriate amounes for the Net Position for the year ending June 30, 2015, pose povennesent engaged only in govenmental activities) have for the year 2015 and appear in the second and third tabs of the heet provided with this exercise. The following information is also a Capital assets ition accounts, plete available: 9. The fund basis finsncial statements of Cherokee Lbrary District (a emmental Capital assets purchased in previous years through govern- . ype fuads toltaled $19.500,000 and had accumulated Depreciation on capital assets used in governmental-type activi anmounted to 5418,000 for 2015 56,330.000 .No capital asets were sold or disposed of in 2015, and all purchases are properly reflected in the fund-basis statements as capita h Long-term debr There was $10,700.000 of outstanding long-term notes associated with governmental-type funds as of January 1, 2015. Interest is paid December 31, 2015, notes with a face value of $6,370,000 were The notes,and any retained percentage on construction contracts, are Deferred inflows are comprised solely of property taxes expected to monthly issued at par. In addition, principal payments totaled $1,340,000. associated with the purchase of capital assets. c. Deferred inflows be collected more than 60 days after year-end. The balance of defemed taxes at the end of 2014 was $87.500. d Transes Transfer were berween govemmental-type fu e Beginning net position for the govenment-wide statements tokalcu $20,107,321 as of January 1, 2015. This amount has already been entereu in the Statement of Activities 120 Eneities, including Aublic Colleges and Universties 35 Requilre Escel template provided to conglete the fallowing rogitmens, the journal entries necessary to convert the governmentail fend s the journal entries to the (shaded) Adjustments column to peoduce uJse the tab is provided for each roquirement. Use the Excel nglate provided no complete the fol a Prepare journal eatries for each of the above aticial statements to the accrual basis of accounting. cestries and calceulate the ending balance for ecax of Activities. You do not have to post amounts debited o a Statement Prepare a Statement of Net Position as of June 30, 2015 d Prepure a Statement of Revenues, Expenses, and Chanee h Prepare closing to "(beginning) net position. These have been reflected in ite et position Expenses, and Changes in Net aoe journal entries to the (shaded) Adjustments colume to produce Post of Net Position. Calculate the appropriate amounes for the Net Position for the year ending June 30, 2015, pose povennesent engaged only in govenmental activities) have for the year 2015 and appear in the second and third tabs of the heet provided with this exercise. The following information is also a Capital assets ition accounts, plete available: 9. The fund basis finsncial statements of Cherokee Lbrary District (a emmental Capital assets purchased in previous years through govern- . ype fuads toltaled $19.500,000 and had accumulated Depreciation on capital assets used in governmental-type activi anmounted to 5418,000 for 2015 56,330.000 .No capital asets were sold or disposed of in 2015, and all purchases are properly reflected in the fund-basis statements as capita h Long-term debr There was $10,700.000 of outstanding long-term notes associated with governmental-type funds as of January 1, 2015. Interest is paid December 31, 2015, notes with a face value of $6,370,000 were The notes,and any retained percentage on construction contracts, are Deferred inflows are comprised solely of property taxes expected to monthly issued at par. In addition, principal payments totaled $1,340,000. associated with the purchase of capital assets. c. Deferred inflows be collected more than 60 days after year-end. The balance of defemed taxes at the end of 2014 was $87.500. d Transes Transfer were berween govemmental-type fu e Beginning net position for the govenment-wide statements tokalcu $20,107,321 as of January 1, 2015. This amount has already been entereu in the Statement of Activities