Question
Option #1: State and Local Government Reporting The information below should be used to prepare a Public Transportation column for the proprietary fund Statement of
Option #1: State and Local Government Reporting
The information below should be used to prepare a Public Transportation column for the proprietary fund Statement of Revenues, Expenses, and Changes in Fund Net Position for the fiscal year ending May 31, 2018.
| Operating Revenue (Services) | $25,705,000 |
| Interest Revenue | $36,000 |
| Intergovernmental Revenue | $140,000 |
| Capital Contributions | $1,200,000 |
| Operating Expenses: | |
| Employee Wages | $8,654,000 |
| Temporary Labor | $750,000 |
| Repairs and Maintenance | $6,425,000 |
| Depreciation | $4,532,000 |
| Utilities | $948,000 |
| Interest Expense | $475,000 |
| Transfer to General Fund | $315,000 |
| Net position, June 1, 2017 | $3,820,000 |
- What observations can you make about the funds activity from June 1, 2017-May 31, 2018? This one I see that they have increased over time?
- Identify the other proprietary fund statements and what measurement focus and basis for accounting are used in those statements.
- What reports and schedules are included in the CAFR as required supplementary information? introductory, financial, and statistical? not sure
I have the first part figured out but am stuck on the 1-3 questions.
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Accounting An Introduction
Authors: Eddie McLaney, Dr Peter Atrill, Eddie J. Mclan
5th Edition
0273733206, 978-0273733201
