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The Town of Hometown USA, a general purpose government, reported a net position in the amount of $16,050,000 in the governmental funds balance sheet dated
The Town of Hometown USA, a general purpose government, reported a net position in the amount of $16,050,000 in the governmental funds balance sheet dated December 31, 2020. In addition, the following information is relevant:
- General government capital assets amounted to $41,250,000. Accumulated
- depreciation of those capital assets amounted to $19,220,000. Enterprise fund capital assets amounted to $5,470,000 with accumulated depreciation of $2,400,000.
- Internal service fund's net position amounted to $495,000. These were reported in the proprietary funds fund basis statements but serve departments in the Governmental Funds.
- Deferred revenue for property taxes recorded in the funds at December 31, 2019 amounted to $460,000.
- Long-term liabilities of the general government amounted to (1) general obligation bonds of $4,650,000 and (2) compensated absences payable of $285,000. Revenue Bonds Payable in the enterprise fund totaled $1,825,000.
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