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The City of Tuscola reports the following revenues for the fiscal year: Real estate and personal property taxes $75,401 Motor vehicle and other excise taxes
The City of Tuscola reports the following revenues for the fiscal year: Real estate and personal property taxes $75,401 Motor vehicle and other excise taxes 3,692 Grants and contributions not restricted 3,634 The City also reports the following revenues from fees it charges for services and operating grants and contributions it has received during the year as well as expenses it has incurred, categorized by governmental activity: Operating Charges for Grants and Functions/Programs Services Contributions Expenses Primary government Governmental activities: General government $409 $580 $6,969 Public safety 1,175 308 8,237 Education 1,092 59,867 Public Works 87 195 3,465 Human services 850 138 2,012 Library 66 96 1,292 Pension and benefits 4,110 5,532 Interest 1,275 Total governmental activities $3,679 $10,951 $86,649 5,524 The City manages two business-type activities: a sanitation department which oversees solid and liquid waste disposal and a municipal pool. Both of these activities charge users a fee that is set at the beginning of the year at a level that is anticipated to cover the costs of providing the service. These fees cannot be changed during the year. As a result, these activities may produce a net profit or loss for the year, depending on the level of operating costs. The revenues and expenses for these services are provided in the following table: Charges for Functions/Programs Services Expenses Business-type activities: Sanitation $5,961 $3,407 Municipal pool 742 $6,485 $4,149 524 Prepare the City of Tuscola's Statement of Activities for the year (assume a beginning balance for Net Position of $175,638 for Governmental activities and $35,554 for Business-type activities). HINT: Remember to use negative signs with answers when appropriate. City of Tuscola Statement of Activities Charges Operating for Grants & Expenses Services Contributions Governmental Activities Business Type Activities Total $ $ $ $ $ Primary government Governmental activities-- General government Public safety Education Public Works Human services Library Pension and benefits $ $ $ $ $ $ Total governmental activities Business type activities-- Sanitation $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Total business type activities Total primary government General revenues-- Real estate and personal property taxes Motor vehicle and other excise taxes $ $ $ $ $ $ $ $ Total general revenues and transfers Change in net position Net position: Beginning of year End of year $ $ $
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