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The following information has been provided for the City of Elizabeth for its fiscal year ended June 30. The information provided relates to financial information
The following information has been provided for the City of Elizabeth for its fiscal year ended June 30. The information provided relates to financial information reported on the citys statement of net position and its total governmental funds balance.
Deferred inflows of resources due to unavailability of resources to pay current expenditures | $ | 361,600 | |
Capital assets | 640,100 | ||
Accumulated depreciation on capital assets | 353,800 | ||
Accrued interest on bonds and long-term notes payable | 1,400 | ||
Bonds and long-term notes payable | 174,600 | ||
Unamortized premium on bonds payable | 900 | ||
Compensated absences | 13,700 | ||
Total governmental fund balances | 158,300 | ||
Total net position of governmental activities | 615,600 | ||
Required Prepare reconciliation of the governmental fund balances to the net position of governmental activities. (Decreases should be indicated with a minus sign.)
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