Presented below are the computed amounts of ratios for the Village of Riverside example appearing in the chapter. Required: .. Using the financial statements provided in Illustrations 2-5 through 2-11, compute ratios for the City of Salem. Assume the population of Salem is 52,000 and the fair value of property totals $970 million. b. For each ratio, indicate which of the two governments has a stronger financial position. (Round "Debt per Capita" answer to the nearest whole dollar and other answers to 2 decimal places.) City of Salem 96 (1) (2) (3) Village of Riverside 10% 11% 2.32 %6 0.11 Financial Position (government-wide, governmental activities) Financial Position (General Fund) Quick Ratio (government-wide, governmental activities) Leverage (government-wide, primary government) Debt Service Coverage (enterprise funds) Debt Service to Total Expenditures (governmental fund-basis) Debt per Capita (government-wide, primary government) Debt to Assessed Value of Property (government-wide, primary government) Stronger Ratio City of Salem City of Salem Village of Riverside Village of Riverside Village of Riverside Village of Riverside Village of Riverside Village of Riverside 2.5 times times (5) (6) 4 % 96 $ 468 (8) 4.68% 96 ILLUSTRATION 2-5 Statement of Net Position CITY OF SALEM Statement of Net Position As of December 31, 2020 Primary Government Governmental Activities Business-type Activities Component Units $ Primary Government $13,057,722 13,663,326 1,103,742 $ 8,242,998 3,312,992 1,072,963 84.733 $ 4,814,724 10,350,334 30,779 Assets Cash and cash equivalents Investments Inventory Receivables (net): Taxes receivable Accounts receivable Due from other governments Restricted assets Capital assets (net of accumulated depreciation) Total assets 2.872,611 722,215 2.872,611 3,379,541 2,657,326 27,085 1,328,448 3,933,126 1,328,448 6,228,169 2,295,043 65,690,373 87,175,726 48,894,402 69,042,608 114,584.775 156,218,334 11.170.900 11,282,718 710 2.425,447 4,340,108 493,849 473,168 2,919,296 4.813.276 2,164,521 1,342,717 3,507 238 Liabilities Accounts payable Accrued liabilities Bonds payable due within one year Bonds payable due in more than one year Total liabilities Net position Net investment in capital assets Restricted Unrestricted Total net position 39,834,882 48,764,958 18,858,187 21,167,921 58,693,069 69,932,879 710 11.197.985 23,690,970 3,933,126 10,786,672 $38,410,768 30,757,135 2,295,043 14,822,509 $47,874,687 54,448,105 6,228,169 25,609,181 $86,285,455 84,023 $11,282,008 Financial Section Basic Financial Statements Government-wide financial Statements: Statement of Activities ILLUSTRATION 2-6 Statement of Activities CITY OF SALEM Sweet of Acties For the Year Ended December 31, 2020 Net Chinese Operation Grand Cortion Cool Gent Charger Government divities Cena government cialison 17 HOGS LA HO 51,144018 $ 23,171 2,23672 520 112,126721 $ Public 61 670 2,90097 ||ALOT? | 11 A10577 11.570.942 19,219,127 22 17236 1.720.121 04 51.611 2,672 CAS Pandection Corrent development restolong ordet Tec 11213.054 11.213.6541 11:22 2010 G2922 141292 1462.908 2.556633 2109092 2015.054 5.59 MINIO 900-9 BOD 1186 511804 Corporate ind development that 4322,349 20.000 4192964 153242 1729.24 4998045 4998045 2,724725 1 1,172 Gents Misce Torsers Todgora Curge in ponon 31.031.424 1250795 35052913 1 5227,00 SO 248265 2016 197,734 Monding STENGT ILLUSTRATION 2-7a Reconciliation to (Government-wide) Statement of Net Position Fund balance reported in the Governmental Funds Balance Shoot $12,992,626 Amounts raportod for govommantal activities in the Statement of Not Position are different because Capital assets used in government operations are not financial resources and therefore are not reported in the funds 65,690,373 Some labilities are not due and payable in the current period and are not reported in fund abilities (41,999,403) The assets and liabilities of internal service funds are included in governmental activities for the Statement of Net Position 436 475 - Accrued liabilities that are not to be paid from current financial resources are not recognbed in the funds 13,117,3901 Receivables on the Statement of Not Position that do not provide current financial resources are reported as deferred infows in the funds. 4,408.07 Not position of govemmontal activities in the Statoment of Net Position $38.410.768 ILLUSTRATION 2-7b Governmental Funds Balance Sheet CITY OF SALEM Balance Sheet Governmental Funds As of December 31, 2020 Special Courthouse Debt Total General Revenue Renovation Service Governmental Assets Fund Fund Fund Fund Funds Cash and cash equivalents $ 5,408,214 $627,837 $ 895,300 $230,000 $8,161,351 Investments 3,312,992 3,312,992 Receivables inat Tas receivable 2,872,611 2,872,611 Accounts receivable 679,215 14,177 693,392 Due from other governments 1,085,184 243.254 1,328 448 Supplies inventory 23,747 23,747 Restricted assets 3,933,126 3,933.126 TOTAL ASSETS $18,315.089 $642,014 $1.138.554 $230,000 $20,325.667 Liabities Accounts payable 2,085,358 70,000 207.134 2,362,492 Accrued liabilities 543,064 19.398 562462 TOTAL LIABILITIES 2,628,422 70,000 226,532 2,924,954 Deferred Inflows of Resources Property Taxes 4,408 087 4,408 ORZ TOTAL DEFERRED INFLOWS 4,408,087 4,408,087 Fund Balance Nonspendable - Supplies inventory 23,747 23,747 Restricted - Intergovermental grants 312,000 500.000 812,000 - Bond sinking fund 230,000 230,000 Committed - Rainy day fund 4,500,000 4,500,000 - Courthouse renovation 380,000 380,000 Assigned - School lunch program 260,014 260,014 - Other capital projects 917,300 32,032 949,332 | Unassigned 5.837 533 E837533 TOTAL FUND BALANCE 11,278,580572,014 912032 220.000 12 992 626 TOTAL LIABILITIES DEFERRED INFLOWS AND FUND BALANCE $18.315.089 $642.014 $1,138.554 $230,000 $20.325.667 ILLUSTRATION 2-8a Reconciliation to (Government-wide) Statement of Activities Excess of revenues and other sources over spenditures and other uses reported in the Governmental Funds Statement of Revenues. Expenditures, and Changes in Fund Balance $1,485,357) Amounts reported for gavammantal activities in the Statement of Activities are different because - . , while they are capital assets in the govemment-wide statements 10,924,818 Debt proceeds provide current fnancial resources to the governmental funds but are liabilities in the government-wide statomonts. 19,675,4001 Depreciation is not recorded in the governmental funds but is expensed in the Statement of Activities. 11,691,1161 - Income canned by intemal service funds is included in governmental activities on govomment-wide statements. 23.964 Payments of principal on long-term debt are expenditures in the governmental funds but reduce the liability in the government-wide statements 1.155.326 - Property taxes expected to be collected more than 60 days after year-end are deferred in the governmental funds. 3,998,550 Change in net position of govommental activities (govomment-wide) $3,250.795 ILLUSTRATION 2-8b Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balance CITY OF SALEM Statement of Revenues, Expenditures, and Changes in Fund Balances-Governmental Funds For the Year Ended December 31, 2030 Special Courthouse Debt Total General Revenue Renovation Service Govermental Revenues Property taxes $15,361.830 $ $15,361,830 Other local taxes 11,761,522 11,761,522 Charges for services 1,601,435 291,243 1.892.678 Intergovernmental 7,098,698 3,456,194 441,548 10,996.440 Miscellaneous 1.262 549 1.262 549 Total revenues 37,085,034 3,747,437 441,548 41,275,019 Expenditures Current General government 3,353,502 3,353,502 Judicial administration 1,456,734 1,98 1,144 3,437,878 Public Safety 8,216,347 8,216,347 Public Works 4,602 273 4,602 273 Health and welfare 4,418,294 4,418.294 Education 8,887,834 8,887,834 Parks and recreation 3,055,325 3,055,325 Community development 899,209 1,093,804 1,993,013 Capital outlay 10.924,818 10,924,818 Debt service: Principal 1.155,326 1,155.326 Interest 924,818 924 818 Total expenditures 34,889,518 3,074,948 10.924,818 2080,144 50,969,428 Revenues over under) expenditures 2,196,516 672,489 (10.483,270) (2,080,144) 19,694,4091 Other financing sources (uses) Issuance of debt 9,675,400 9,675.400 Transfers from other funds 2,080,144 2,080, 144 Transfers to other funds 13.256 899289,593) 13.546 4921 Total other financing sources (uses 3,256,899) (289,593 9.575,400 2.080,144 8,209,052 Excess of revenues and other sources over (under) sponditures and other uses 11,060,383) 382,895 (807,8701 (1.485 3571 Fund balance- beginning of year 12.333.963 189.118 1.719,902 230,000 14.477.983 Fund balance-end of year $11,278,580 $572014 $912032 $230,000 $12.992 626 ILLUSTRATION 2-9 Proprietary Funds: Statement of Net Position CITY OF SALEM Statement of Net Pusation Proprietary Funds As of December 31, 2020 Govommental Activities Internal Business type Activities - Enterprise Funds Service Assets Water Solid Waste Parking Fund Current assots: Cash and cash equivalents $ 3,801,978 $ 347,889 $ 164.857 $ 4,814,724 $ 81,547 Investments 4433039 5917,295 10,350 334 Inventory 30,779 30,779 330,759 Receivables Accounts receivable 2,307,543 342,394 7.289 2,657 325 Due from other funds 28,824 Restricted assets 1,394.787 900,255 2,295043 Total current assots 11.968.226 8.007,834 172.146 20,148.206 441,230 Noncurrent assets Capital assets inet of accumulated depreciation) 37.975 852 4611754 6.306.795 48.894402 68 603 Total assets $49.944,078 $12619.588 $6.478.942 $69.042.508 $509.833 Liabilities Current liabilities Accounts payable 317,131 174,087 2631 493,849 62,958 Accrued liabilities 437 353 25,854 9951 473,168 3,309 Total current liabilities 754.494 199,941 12.582 967017 66 267 Liability for landil closure and postclosure care costs 2063,637 2,063,637 Capital lases payable 7,091 Bonds payable 16,114,097 2.023. 170 18,137 267 Total noncurrent abilities 16,114.097 2,063,637 2,023,170 20,200.904 7,091 Total abilities 16,868.591 2.263,578 2,035 752 21,167921 73,358 Net position Net investment in capital assets 21,861,755 4611,754 4,283.52630,757,135 61,512 Restricted 1,394,787 900,256 2,295,043 Unrestricted 9.818.945 4844000 159564 14,822509 374.963 Total net position $33.075.487 $10356 010 $4.443.190 $47,874687 $436,475 ILLUSTRATION 2-10 Proprietary Funds: Statement of Revenues, Expenses, and Changes in Fund Net Position CITY OF SALEM Statement of Revenues, Expenses, and Changes in Fund Net Position-Proprietary Funds For the Year Ended December 31, 2020 Governmental Activities Internal Business-type Activities Enterprise Funds Service Water Solid Waste Parking Total Fund Operating revenues Charges for services $ 6,335 022 $ 2.292,322 $261,088 $8,888,432 $663,162 Miscellaneous 45.499 58,827 104 325 Total revenues 6,380,521 2351,149 26100B 8,992.758 663,162 Operating expenses Porsonnel services 1,576,088 1,164,629 126 466 2,867,183 591,010 Repairs and maintenance 389.271 50,296 439,567 2.698 Contractual services 1.107.169 439,355 1,546,524 34622 Depreciation 1,374.214 353,411 153,097 1,880,722 6,654 Utilities 186,195 1,173 40,619 227.987 100 Other 699,009 332,110 63.766 1,094 885 4,256 Landfill closure costs 215,659 215,659 Total operating expenses 5.331,946 2.556,633 383.948 8,272527 639,340 Operating income foss! 1,048,575 (205,484 (122860) 720 231 23,822 Nonoperating revenues expenses) Interest income 452,718 279,924 1.558 734.200 700 State and 23,745 6,878 30,524 Interest expense 1710.042) 197.901) 307.943 (558 Total nonoperating revenue (233.578 286,802 196.343) (43,119) 142 Income before contributions and transfers 814.997 81,318 (219.203 677,112 23,964 Capital contributions 3,085.946 2085,064 5.171.010 Transfers in 179,440 179,440 Transfers out 192 300 702,202 7945021 Change in not position 3,808,643 1,464,180 (39.763) 5,233,050 23,964 Net position-beginning 29,266 844 8.891,830 4,482 953 42,641.627 412,511 Net position-end of year $33.075.487 $10.356,010 54 443.190 $47,874587 $435,475 of year ILLUSTRATION 2-11 Proprietary Funds: Statement of Cash Flows CITY OF SALEM Statement of Cash Flows wraptary in For the Year Ended December 31, 2020 Gerial Activ Business-type Active-Enterprise Funds Service Solid Wasse Parking Fund Cash flows from operating activities Cash received from customers $6,388,018 $2,343,431 $250,046 $8.901,395 $649426 Cashped to supplies 12.490,2411 1822,363 80,137) 13.202.741 630 437) Cashpad temployees 1948,035 1764,092 99,517) (1811,584 Other 1588,974 1922 472) 50,430) 0961.87 Nestash provided by operating at 2.360,768 434564 2925 194 18.989 Cash flows from no capital financing activities Operating grants received 6,594 6,504 Transfers from other funds 179,440 179,440 Transfers to the funds 199,900 1700,202 (7945001 Nech provided by roncapital financing activities 192,9001 1605,600 179,440 60846 Cash flow from capital and related financing activities Acquisition of capital 1543,1691 456,179 (209,3481 Principal paid on long-lum ditt (1,014,887 (128,420 (1,143,307 3,719 Intipald 1595,5671 25.961) (831,52 Match provided from capital and related financing active 12008,6231 456,179 2.7741831 3.719 Cash flows from investing activities Irrit received 287.225 569.207 200 Niet cash provided from isting active 287,725 279.924 1.558 560.207 700 Increase in cash Cash and cheer beginning of your 4734,195 2,185 444 178.378 7008017 65677 Cash and cash equivalents- end of year $5,196,765 $1,748,145 $164,857 $7.100.767 $81647 Reconciliation of operating income to net cash provided by operating activities: Operating income 1,048,575 205,484 720.231 29.822 Depreciation 1,374,214 153,097 1.880 722 6.654 Increased in class 21,097 122,828 1375 143550 (13,736 Incredere in veriory (46.535 Inca decrease in accounts payat 183,1161 183.118 48,784 Terasin lille by 163.800 182800 1558 $2825194 $18.989 operating at $2.360,768 $434564 Noncash investing, capital, and financing activities Contribution of capital from developers $2,085,946 $2,085 064 $ $5,171,010 $ Presented below are the computed amounts of ratios for the Village of Riverside example appearing in the chapter. Required: .. Using the financial statements provided in Illustrations 2-5 through 2-11, compute ratios for the City of Salem. Assume the population of Salem is 52,000 and the fair value of property totals $970 million. b. For each ratio, indicate which of the two governments has a stronger financial position. (Round "Debt per Capita" answer to the nearest whole dollar and other answers to 2 decimal places.) City of Salem 96 (1) (2) (3) Village of Riverside 10% 11% 2.32 %6 0.11 Financial Position (government-wide, governmental activities) Financial Position (General Fund) Quick Ratio (government-wide, governmental activities) Leverage (government-wide, primary government) Debt Service Coverage (enterprise funds) Debt Service to Total Expenditures (governmental fund-basis) Debt per Capita (government-wide, primary government) Debt to Assessed Value of Property (government-wide, primary government) Stronger Ratio City of Salem City of Salem Village of Riverside Village of Riverside Village of Riverside Village of Riverside Village of Riverside Village of Riverside 2.5 times times (5) (6) 4 % 96 $ 468 (8) 4.68% 96 ILLUSTRATION 2-5 Statement of Net Position CITY OF SALEM Statement of Net Position As of December 31, 2020 Primary Government Governmental Activities Business-type Activities Component Units $ Primary Government $13,057,722 13,663,326 1,103,742 $ 8,242,998 3,312,992 1,072,963 84.733 $ 4,814,724 10,350,334 30,779 Assets Cash and cash equivalents Investments Inventory Receivables (net): Taxes receivable Accounts receivable Due from other governments Restricted assets Capital assets (net of accumulated depreciation) Total assets 2.872,611 722,215 2.872,611 3,379,541 2,657,326 27,085 1,328,448 3,933,126 1,328,448 6,228,169 2,295,043 65,690,373 87,175,726 48,894,402 69,042,608 114,584.775 156,218,334 11.170.900 11,282,718 710 2.425,447 4,340,108 493,849 473,168 2,919,296 4.813.276 2,164,521 1,342,717 3,507 238 Liabilities Accounts payable Accrued liabilities Bonds payable due within one year Bonds payable due in more than one year Total liabilities Net position Net investment in capital assets Restricted Unrestricted Total net position 39,834,882 48,764,958 18,858,187 21,167,921 58,693,069 69,932,879 710 11.197.985 23,690,970 3,933,126 10,786,672 $38,410,768 30,757,135 2,295,043 14,822,509 $47,874,687 54,448,105 6,228,169 25,609,181 $86,285,455 84,023 $11,282,008 Financial Section Basic Financial Statements Government-wide financial Statements: Statement of Activities ILLUSTRATION 2-6 Statement of Activities CITY OF SALEM Sweet of Acties For the Year Ended December 31, 2020 Net Chinese Operation Grand Cortion Cool Gent Charger Government divities Cena government cialison 17 HOGS LA HO 51,144018 $ 23,171 2,23672 520 112,126721 $ Public 61 670 2,90097 ||ALOT? | 11 A10577 11.570.942 19,219,127 22 17236 1.720.121 04 51.611 2,672 CAS Pandection Corrent development restolong ordet Tec 11213.054 11.213.6541 11:22 2010 G2922 141292 1462.908 2.556633 2109092 2015.054 5.59 MINIO 900-9 BOD 1186 511804 Corporate ind development that 4322,349 20.000 4192964 153242 1729.24 4998045 4998045 2,724725 1 1,172 Gents Misce Torsers Todgora Curge in ponon 31.031.424 1250795 35052913 1 5227,00 SO 248265 2016 197,734 Monding STENGT ILLUSTRATION 2-7a Reconciliation to (Government-wide) Statement of Net Position Fund balance reported in the Governmental Funds Balance Shoot $12,992,626 Amounts raportod for govommantal activities in the Statement of Not Position are different because Capital assets used in government operations are not financial resources and therefore are not reported in the funds 65,690,373 Some labilities are not due and payable in the current period and are not reported in fund abilities (41,999,403) The assets and liabilities of internal service funds are included in governmental activities for the Statement of Net Position 436 475 - Accrued liabilities that are not to be paid from current financial resources are not recognbed in the funds 13,117,3901 Receivables on the Statement of Not Position that do not provide current financial resources are reported as deferred infows in the funds. 4,408.07 Not position of govemmontal activities in the Statoment of Net Position $38.410.768 ILLUSTRATION 2-7b Governmental Funds Balance Sheet CITY OF SALEM Balance Sheet Governmental Funds As of December 31, 2020 Special Courthouse Debt Total General Revenue Renovation Service Governmental Assets Fund Fund Fund Fund Funds Cash and cash equivalents $ 5,408,214 $627,837 $ 895,300 $230,000 $8,161,351 Investments 3,312,992 3,312,992 Receivables inat Tas receivable 2,872,611 2,872,611 Accounts receivable 679,215 14,177 693,392 Due from other governments 1,085,184 243.254 1,328 448 Supplies inventory 23,747 23,747 Restricted assets 3,933,126 3,933.126 TOTAL ASSETS $18,315.089 $642,014 $1.138.554 $230,000 $20,325.667 Liabities Accounts payable 2,085,358 70,000 207.134 2,362,492 Accrued liabilities 543,064 19.398 562462 TOTAL LIABILITIES 2,628,422 70,000 226,532 2,924,954 Deferred Inflows of Resources Property Taxes 4,408 087 4,408 ORZ TOTAL DEFERRED INFLOWS 4,408,087 4,408,087 Fund Balance Nonspendable - Supplies inventory 23,747 23,747 Restricted - Intergovermental grants 312,000 500.000 812,000 - Bond sinking fund 230,000 230,000 Committed - Rainy day fund 4,500,000 4,500,000 - Courthouse renovation 380,000 380,000 Assigned - School lunch program 260,014 260,014 - Other capital projects 917,300 32,032 949,332 | Unassigned 5.837 533 E837533 TOTAL FUND BALANCE 11,278,580572,014 912032 220.000 12 992 626 TOTAL LIABILITIES DEFERRED INFLOWS AND FUND BALANCE $18.315.089 $642.014 $1,138.554 $230,000 $20.325.667 ILLUSTRATION 2-8a Reconciliation to (Government-wide) Statement of Activities Excess of revenues and other sources over spenditures and other uses reported in the Governmental Funds Statement of Revenues. Expenditures, and Changes in Fund Balance $1,485,357) Amounts reported for gavammantal activities in the Statement of Activities are different because - . , while they are capital assets in the govemment-wide statements 10,924,818 Debt proceeds provide current fnancial resources to the governmental funds but are liabilities in the government-wide statomonts. 19,675,4001 Depreciation is not recorded in the governmental funds but is expensed in the Statement of Activities. 11,691,1161 - Income canned by intemal service funds is included in governmental activities on govomment-wide statements. 23.964 Payments of principal on long-term debt are expenditures in the governmental funds but reduce the liability in the government-wide statements 1.155.326 - Property taxes expected to be collected more than 60 days after year-end are deferred in the governmental funds. 3,998,550 Change in net position of govommental activities (govomment-wide) $3,250.795 ILLUSTRATION 2-8b Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balance CITY OF SALEM Statement of Revenues, Expenditures, and Changes in Fund Balances-Governmental Funds For the Year Ended December 31, 2030 Special Courthouse Debt Total General Revenue Renovation Service Govermental Revenues Property taxes $15,361.830 $ $15,361,830 Other local taxes 11,761,522 11,761,522 Charges for services 1,601,435 291,243 1.892.678 Intergovernmental 7,098,698 3,456,194 441,548 10,996.440 Miscellaneous 1.262 549 1.262 549 Total revenues 37,085,034 3,747,437 441,548 41,275,019 Expenditures Current General government 3,353,502 3,353,502 Judicial administration 1,456,734 1,98 1,144 3,437,878 Public Safety 8,216,347 8,216,347 Public Works 4,602 273 4,602 273 Health and welfare 4,418,294 4,418.294 Education 8,887,834 8,887,834 Parks and recreation 3,055,325 3,055,325 Community development 899,209 1,093,804 1,993,013 Capital outlay 10.924,818 10,924,818 Debt service: Principal 1.155,326 1,155.326 Interest 924,818 924 818 Total expenditures 34,889,518 3,074,948 10.924,818 2080,144 50,969,428 Revenues over under) expenditures 2,196,516 672,489 (10.483,270) (2,080,144) 19,694,4091 Other financing sources (uses) Issuance of debt 9,675,400 9,675.400 Transfers from other funds 2,080,144 2,080, 144 Transfers to other funds 13.256 899289,593) 13.546 4921 Total other financing sources (uses 3,256,899) (289,593 9.575,400 2.080,144 8,209,052 Excess of revenues and other sources over (under) sponditures and other uses 11,060,383) 382,895 (807,8701 (1.485 3571 Fund balance- beginning of year 12.333.963 189.118 1.719,902 230,000 14.477.983 Fund balance-end of year $11,278,580 $572014 $912032 $230,000 $12.992 626 ILLUSTRATION 2-9 Proprietary Funds: Statement of Net Position CITY OF SALEM Statement of Net Pusation Proprietary Funds As of December 31, 2020 Govommental Activities Internal Business type Activities - Enterprise Funds Service Assets Water Solid Waste Parking Fund Current assots: Cash and cash equivalents $ 3,801,978 $ 347,889 $ 164.857 $ 4,814,724 $ 81,547 Investments 4433039 5917,295 10,350 334 Inventory 30,779 30,779 330,759 Receivables Accounts receivable 2,307,543 342,394 7.289 2,657 325 Due from other funds 28,824 Restricted assets 1,394.787 900,255 2,295043 Total current assots 11.968.226 8.007,834 172.146 20,148.206 441,230 Noncurrent assets Capital assets inet of accumulated depreciation) 37.975 852 4611754 6.306.795 48.894402 68 603 Total assets $49.944,078 $12619.588 $6.478.942 $69.042.508 $509.833 Liabilities Current liabilities Accounts payable 317,131 174,087 2631 493,849 62,958 Accrued liabilities 437 353 25,854 9951 473,168 3,309 Total current liabilities 754.494 199,941 12.582 967017 66 267 Liability for landil closure and postclosure care costs 2063,637 2,063,637 Capital lases payable 7,091 Bonds payable 16,114,097 2.023. 170 18,137 267 Total noncurrent abilities 16,114.097 2,063,637 2,023,170 20,200.904 7,091 Total abilities 16,868.591 2.263,578 2,035 752 21,167921 73,358 Net position Net investment in capital assets 21,861,755 4611,754 4,283.52630,757,135 61,512 Restricted 1,394,787 900,256 2,295,043 Unrestricted 9.818.945 4844000 159564 14,822509 374.963 Total net position $33.075.487 $10356 010 $4.443.190 $47,874687 $436,475 ILLUSTRATION 2-10 Proprietary Funds: Statement of Revenues, Expenses, and Changes in Fund Net Position CITY OF SALEM Statement of Revenues, Expenses, and Changes in Fund Net Position-Proprietary Funds For the Year Ended December 31, 2020 Governmental Activities Internal Business-type Activities Enterprise Funds Service Water Solid Waste Parking Total Fund Operating revenues Charges for services $ 6,335 022 $ 2.292,322 $261,088 $8,888,432 $663,162 Miscellaneous 45.499 58,827 104 325 Total revenues 6,380,521 2351,149 26100B 8,992.758 663,162 Operating expenses Porsonnel services 1,576,088 1,164,629 126 466 2,867,183 591,010 Repairs and maintenance 389.271 50,296 439,567 2.698 Contractual services 1.107.169 439,355 1,546,524 34622 Depreciation 1,374.214 353,411 153,097 1,880,722 6,654 Utilities 186,195 1,173 40,619 227.987 100 Other 699,009 332,110 63.766 1,094 885 4,256 Landfill closure costs 215,659 215,659 Total operating expenses 5.331,946 2.556,633 383.948 8,272527 639,340 Operating income foss! 1,048,575 (205,484 (122860) 720 231 23,822 Nonoperating revenues expenses) Interest income 452,718 279,924 1.558 734.200 700 State and 23,745 6,878 30,524 Interest expense 1710.042) 197.901) 307.943 (558 Total nonoperating revenue (233.578 286,802 196.343) (43,119) 142 Income before contributions and transfers 814.997 81,318 (219.203 677,112 23,964 Capital contributions 3,085.946 2085,064 5.171.010 Transfers in 179,440 179,440 Transfers out 192 300 702,202 7945021 Change in not position 3,808,643 1,464,180 (39.763) 5,233,050 23,964 Net position-beginning 29,266 844 8.891,830 4,482 953 42,641.627 412,511 Net position-end of year $33.075.487 $10.356,010 54 443.190 $47,874587 $435,475 of year ILLUSTRATION 2-11 Proprietary Funds: Statement of Cash Flows CITY OF SALEM Statement of Cash Flows wraptary in For the Year Ended December 31, 2020 Gerial Activ Business-type Active-Enterprise Funds Service Solid Wasse Parking Fund Cash flows from operating activities Cash received from customers $6,388,018 $2,343,431 $250,046 $8.901,395 $649426 Cashped to supplies 12.490,2411 1822,363 80,137) 13.202.741 630 437) Cashpad temployees 1948,035 1764,092 99,517) (1811,584 Other 1588,974 1922 472) 50,430) 0961.87 Nestash provided by operating at 2.360,768 434564 2925 194 18.989 Cash flows from no capital financing activities Operating grants received 6,594 6,504 Transfers from other funds 179,440 179,440 Transfers to the funds 199,900 1700,202 (7945001 Nech provided by roncapital financing activities 192,9001 1605,600 179,440 60846 Cash flow from capital and related financing activities Acquisition of capital 1543,1691 456,179 (209,3481 Principal paid on long-lum ditt (1,014,887 (128,420 (1,143,307 3,719 Intipald 1595,5671 25.961) (831,52 Match provided from capital and related financing active 12008,6231 456,179 2.7741831 3.719 Cash flows from investing activities Irrit received 287.225 569.207 200 Niet cash provided from isting active 287,725 279.924 1.558 560.207 700 Increase in cash Cash and cheer beginning of your 4734,195 2,185 444 178.378 7008017 65677 Cash and cash equivalents- end of year $5,196,765 $1,748,145 $164,857 $7.100.767 $81647 Reconciliation of operating income to net cash provided by operating activities: Operating income 1,048,575 205,484 720.231 29.822 Depreciation 1,374,214 153,097 1.880 722 6.654 Increased in class 21,097 122,828 1375 143550 (13,736 Incredere in veriory (46.535 Inca decrease in accounts payat 183,1161 183.118 48,784 Terasin lille by 163.800 182800 1558 $2825194 $18.989 operating at $2.360,768 $434564 Noncash investing, capital, and financing activities Contribution of capital from developers $2,085,946 $2,085 064 $ $5,171,010 $
