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The City of Madison, a general purpose govermment, reported fund balances in the amount of $19,700,000 in the governmental funds balance sheet dated December 31,

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The City of Madison, a general purpose govermment, reported fund balances in the amount of $19,700,000 in the governmental funds balance sheet dated December 31, 2015, In addition, the folilowing information is relevant. A. General government capital assets amounted to $28,000,000. Accumulated depreciation of those capital assets amounted to $13,000,000. Enterprise fund capital assets amounted to $17,000,000 with accumulated depreciation of $8,400,000. B. Internal service fund's net assets amounted to $2,500,000. These were repcrted in the proprietary funds fund basis statements but serve departments in the General Fund. C. Property Taxes, which should be recognized as revenue in the government-wide statements, amounted to $200,000. The balance of deferred infiows - property taxes from the previous year was $170,000 D. Liabilities, in addition to the amount reported in the governmental funds balance sheet included accrued interest payable, $300,.000. E. General long-term liabilities of the government amounted to (1) general obligation bonds of $6,000,000 and (2) compensated absences payable of $1,500,000. Revenue Bonds Payable in the enterprise fund totaled $2,000,000. Required: Prepare a reconciliation from the fund balances recognized in the governmental funds balance sheet to the Net Position recognized in the governmental funds column of the government-wide statement of Net Position

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