Tierney County
Total Governmental Funds
Preclosing Trial Balance
December 31, 20X5
		Debit	Credit
	Cash	1,348,200
	Investments	7,355,600
	Due from General Fund	3,500
	Taxes Receivable	189,000
	Allowance for Uncollectible Taxes		38,500
	Interest and Penalties Receivable	5,250
	Allowance for Uncollectible Interest and Penalties		476
	Accounts Receivable	45,500
	Allowance for Uncollible Accounts		1,750
	Accrued Interest Receivable	191,800
	Inventory of Material and Supplies	16,450
	Vouchers Payable		1,016,400
	Accrued Salaries and Wages Payable		17,500
	Contracts Payable - Retained Percentage		350,000
	Interest Payable (on Current Debt)		1,050
	Unearned Operating Grant Revenues		360,500
	Unearned Capital Grant Revenues		525,000
	Due to Enterprise Fund		11,550
	Due to Special Revenue Fund		3,500
	Deferred Tax Revenues		107,800
	Fund Balance (Preclosing)		695,049
	Revenues:
	Taxes		3,395,000
	Licenses and Permits		311,500
	Fines and Forfeitures		133,000
	Unrestricted Grants		367,500
	Operating Grants		420,000
	Capital Grants		7,231,000
	Investment Income		600,000
	Other Revenues		7,000
	Current Operating Expenditures/Expenses:
	General Government	274,400
	Public Safety	1,417,500
	Streets and Roads	861,700
	Health and Sanitation	162,400
	Parks and Recreation	65,100
	Capital Outlay Expenditures:
	For Construction	8,890,000
	For Equipment	203,700
	Debt Service Expenditures:
	Bond Principal Retirement	700,000
	Interest on Bonds	356,475
	Fiscal Agent Fees	52,500
	Bond Issue Costs	35,000
	Other Financing Sources:
	Bonds		6,300,000
	Bond Premium		42,000
	Proceeds from Sale of General Capital Assets		175,000
	Transfers from General Fund		616,000
	Transfers from Special Revenue Funds		70,000
	Transfers from Enterprise Funds		63,000
	Other Financing Uses:
	Transfers to Capital Projects Funds	56,000
	Transfers to Debt Services Funds	560,000
	Transfers to General Fund	70,000
	TOTALS	22,860,075	22,860,075
	ADDITIONAL INFORMATION:
1	The beginning trial balance of the general capital assets and general long-term liabilities accounts at January 1, 20X5, was:
		Debit	Credit
	Cash	$ 465,500
	Buildings	4,375,000
	Accumulated Depreciation - Buildings		$ 2,730,000
	Machinery and Equipment	1,400,000
	Accumulated Depreciation - Machinery and Equipment		525,000
	Streets and Roads	7,000,000
	Accumulated Depreciation - Streets and Roads		4,200,000
	Bonds Payable		2,800,000
	Premium on Bonds Payable		70,000
	Liability for Claims and Judgements - Long-Term		490,000
	Compensated Absences Liability - Long-Term		350,000
	Net Position		2,075,500
		$ 13,240,500	$ 13,240,500
2	The balance of the long-term claims and judgements obligation at December 31, 20X5, was $450,000. All claims and judgements of the county are related to health and sanitation.
3	The balance of the long-term liability for compensated absences at December 31, 20X5, was $425,000. Compensated absence liabilities are generated equally by the general government, public safety, streets and roads, and health and sanitation functions.
4	The bond issuance occurred at year end. The equipment purchases occurred at the beginning of the year.
5	The January 1, 20X5, balance of Accrued Salaries and Wages Payable was $25,000.
6	The January 1, 20X5, balance of Deferred Tax Revenues was $84,000.
7	The operating grants revenues were associated with Public Safety ($100,000) and Health and Sanitation. The capital grants were associated with Streets and Roads.
8	The accrued interest associated with bonds at December 31, 20X5, was $99,000. The January 1, 20X5, balance was $87,500.
9	The remaining term of the bonds payable with the premium ($70,000) is 10 years. Use straight-line amortization.
10	The county depreciates machinery and equipment over 5 years, buildings oer 20 years, and streets and roads over 30 years. Assume zero salvage values.
11	Depreciation expense on the buildings and on the machinery and equipment is associated with functions as follows: General Government, 10%; Public Safety, 50%; Streets and Roads, 25%; Health and Sanitation, 10%; and Parks and Recreation, 5%.
12	The capital asset sold was equipment, which cost $500,000 and had accumulated depreciation at the January 1 sale date of $400,000.
13	The county's only Internal Service Fund provides 75% of its services to Enterprise Funds and sets its billings equal to its costs of providing services. The Internal Service Fund billings to general governmental departments during the year totaled $100,000. Billings of $25,000 were associated with each functional category of expenditures except Parks and Recreations.
	REQUIRED
	The December 31, 20X5, total fund balance (postclosing) was $6,721,274. Prepare a balance sheet conversion worksheet to derive government-wide, governmental actiies data for Tierney County.