Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following information is available for the preparation of the government-wide financial statements for the City of Northern Pines for the year ended June 30,
The following information is available for the preparation of the government-wide financial statements for the City of Northern Pines for the year ended June 30, 2020:
Expenses: | |||
General government | $ | 11,960,000 | |
Public safety | 23,900,000 | ||
Public works | 11,290,000 | ||
Health and sanitation | 6,010,000 | ||
Culture and recreation | 4,198,000 | ||
Interest on long-term debt, governmental type | 721,000 | ||
Water and sewer system | 10,710,000 | ||
Parking system | 409,000 | ||
Revenues: | |||
Charges for services, general government | 1,510,000 | ||
Charges for services, public safety | 210,000 | ||
Operating grant, public safety | 798,000 | ||
Charges for services, health and sanitation | 2,355,000 | ||
Operating grant, health and sanitation | 1,210,000 | ||
Charges for services, culture and recreation | 1,998,000 | ||
Charges for services, water and sewer | 11,588,000 | ||
Charges for services, parking system | 388,000 | ||
Property taxes | 27,112,000 | ||
Sales taxes | 20,698,000 | ||
Investment earnings, business-type | 325,000 | ||
Special itemgain on sale of unused land, governmental type | 1,250,000 | ||
Transfer from business-type activities to governmental activities | 700,000 | ||
Net position, July 1, 2019, governmental activities | 5,800,000 | ||
Net position, July 1, 2019, business-type activities | 4,600,000 | ||
Statement of Activities For the Year Ended June 30, 2020 Program Revenues Net (Expense) Revenue and Change in Net Position Functions/Programs Expenses Charges for Services Operating Grants Governmental Activities Business-Type Activities Total $ $ $ 1,510,000 210,000 798,000 Governmental Activities: General Government Public Safety Public Works Health and Sanitation Culture and Recreation Interest on Long-Term Debt 11,960,000 23,900,000 11,290,000 6,010,000 4,198,000 721,000 (10,450,000) (22,892,000) (11,290) (2,445,000) (2,200,000) (721,000) (10,450,000) (22,892,000) (11,290) (2,445,000) (2,200,000) (721,000) 1,210,000 2,355,000 1.998,000 58,079,000 6,073,000 2,008,000 (38,719,290) (38,719,290) Total Governmental Activities Business-Type Activities: Water and Sewer System Parking System $ $ 10,710,000 409,000 11,588,000 388,000 878,000 21,000 878,000 21,000 $ 0 Total Business-Type Activities Total 11,119,000 69,198,000 11,976,000 18,049,000 0 (38,719,290) 899,000 899,000 899,000 (37,820,290) $ $ 2,008,000 General Revenues: Property Taxes Sales Taxes Investment Earnings Special ItemGain on Sale of Unused Land 27,112,000 20,698,000 27,112,000 20,698,000 325,000 1,250,000 325,000 1,250,000 49,760,000 (375,000) 49,385,000 Total General Revenues, Special Items, and Transfers Change in Net Position Vet Position, July 1, 2019 Vet Position, June 30, 2020 0 0 0 $ 0 $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started