Prepare a reconciliation of Net Change in Governmental Fund Balances (the General Fund, Capital Projects Funds, Debt Service Fund, Special Revenues Funds and Permanent Funds) to change in Governmental Net Assets (the 5 funds just cited and the Internal Services Funds, which all reflect government activities.) [An internal service fund is a fund used in governmental accounting to track goods or services shifted between departments on a cost reimbursement basis. An example of an internal service fund is a maintenance department that provides equipment maintenance services to other departments.]

Reconciliation of Net Change in

Governmental Fund Balances to

Change in Governmental Net Assets

Governmental Fund Balances as of

December 31, 2019: $6,000,000 credit

Reconciling Items:

1. Increase in Deferred Revenue all related to

Property tax located on the Balance

Sheet of the General Fund: $400,000 ______________

2. Expenditures related to Capital Asset

Purchases. Occurred in the General Fund:

$10,000,000 ______________

3. Depreciation expenses on capital assets (never

taken by the 5 governmental funds):

$2,000,000 ______________

4. Proceeds sent to the Capital Projects Fund from

the issuance of general long-term capital debt

(long-term debt is not reflected in the

General Fund): $5,000,000 ______________

5. Expenditures paid through the Debt Service

Fund to pay principal on capital related debt:

$200,000 ______________

6. Increase in liability for compensated absences

not accrued in any of the 5 governmental

Funds: $60,000 ______________

7. Internal Service Fund Net Assets

As of December 31, 2019:

$100,000 ______________

Statement of Net Assets

Governmental Activities as of

December 31, 2019: ______________