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Presented below is the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances for the Trinity Parish Fire District, a special-purpose entity engaged
Presented below is the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances for the Trinity Parish Fire District, a special-purpose entity engaged in a single governmental activity.
TRINITY PARISH FIRE DISTRICT | |||||||||||||
Governmental Funds: Statement of Revenues, Expenditures, and Changes in Fund Balances | |||||||||||||
For the Year Ended December 31, 2020 | |||||||||||||
General Fund | Special Revenue Fund | Total | |||||||||||
Revenues | |||||||||||||
Property taxes | $ | 307,500 | $ | 307,500 | |||||||||
Intergovernmental | 31,000 | $ | 21,000 | 52,000 | |||||||||
Miscellaneous | 6,650 | 6,650 | |||||||||||
Total revenues | 345,150 | 21,000 | 366,150 | ||||||||||
Expenditures | |||||||||||||
Current | |||||||||||||
Personnel services | 156,000 | 16,950 | 172,950 | ||||||||||
Supplies | 27,250 | 27,250 | |||||||||||
Capital outlay | 128,600 | 128,600 | |||||||||||
Debt service | |||||||||||||
Principal | 6,050 | 6,050 | |||||||||||
Interest | 9,350 | 9,350 | |||||||||||
Total expenditures | $ | 327,250 | $ | 16,950 | $ | 344,200 | |||||||
Excess of revenues over expenditures | 17,900 | 4,050 | 21,950 | ||||||||||
Other financing sources (uses): | |||||||||||||
Issuance of debt | 23,200 | 23,200 | |||||||||||
Transfers from other funds | 5,300 | 5,300 | |||||||||||
Transfers (to) other funds | (5,300 | ) | (5,300 | ) | |||||||||
Total other financing sources | 17,900 | 5,300 | 23,200 | ||||||||||
Excess of revenues and other sources over (under) expenditures and other uses | 35,800 | 9,350 | 45,150 | ||||||||||
Fund balancebeginning of year | 24,400 | (8,300 | ) | 16,100 | |||||||||
Fund balanceend of year | $ | 60,200 | $ | 1,050 | $ | 61,250 | |||||||
Additional information:
- Property taxes expected to be collected more than 60 days following year-end are deferred in the fund-basis statements. Deferred taxes totaled $40,500 at the end of 2019 and $36,750 at the end of 2020.
- The current year provision for depreciation totaled $63,500.
- Interest on long-term notes payable is paid monthly (no accrual is necessary).
- Total Net Position on the December 31, 2019, Statement of Net Position totaled $134,000.
Prepare a combined Governmental Funds Balance Sheet/Statement of Net Position. (Amounts to be deducted should be indicated by a minus sign.)
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