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From: Dayana Mirabal <[email protected]>
Date: July 5, 2016 at 11:14:49 PM EDT
To: Dayana mirabal <[email protected]>
Sent from my iPhone
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For Final Project One, you will use the Final Project One
Student Workbook Excel spreadsheet provided for you.
If you would like a refresher course on using various features of
Excel, sign in to Atomic Learning and type “Excel” in the
search box. This will provide you with options to select the
specific level of training that you need (i.e., intro, intermediate,
or advanced) and the specific version of Excel that you have
(i.e., 2011, 2013, etc.). The trainings are broken down into
small, meaningful chunks. Therefore, you should be able to find
specific topics at each level that will meet your needs.
IMPORTANT: For the transaction worksheets for each fund, in
column A, the part shaded in yellow, code the account 1 for
balance sheet accounts and 2 for operating statement accounts.
For example, on sheet GF WS, cash is a balance sheet account
so in cell A1 you will put 1. These codes will allow the
worksheet to automatically populate the operating statement and
balance sheet columns on the worksheets. These will
automatically populate the corresponding financial statements.
For some funds, you will be required to prepare entries for

transactions. Statements will automatically be created (if you
properly code column A). You can check your work by ensuring
debits equal credits and that the corresponding statements
balance.
For other funds, you will be given the completed worksheet for
the funds’ transactions and you will be required to prepare the
appropriate statements (statements will not automatically be
populated from the completed worksheet).
Sheets you are required to complete will have white tabs. Sheets
that automatically populate or that have given information will
have green tabs.
SAVE YOUR WORK OFTEN!
General Fund
As one of the accountants for the City of Springfield, you will
record the following transactions into the accompanying
transactions have already been recorded in the workbook. The
city has other accountants who also record transactions.
1. The city levied its general property taxes for the year of
$1,580,000. The city estimates that $30,000 of the taxes will
prove uncollectible. Record the taxes assuming the city will
collect the remaining balance later during the fiscal year.
2. The city collected $1,300,000 of property taxes before the
due date for taxes. The remainder of the taxes receivable
became delinquent.
3. The city received and vouchered the materials and supplies
that were on order from the previous year. The actual cost
equaled the estimated cost of these materials and supplies,
$19,000. The city records expenditures for materials and
supplies when they are consumed. A perpetual inventory system
is used.
4. The city incurred and paid salary expenditures as follows:
Accrued salaries payable, January 1. . . . . . . . . . . . . . . . . . . . $
50,000
General government. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
180,000

Public safety. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . 580,000
Highways and streets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. 175,000
Health and sanitation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. 150,000
Parks and recreation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. 220,000
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . $1,355,000
5. Billings were received from the Central Communications
Network Internal Service Fund for communications services
used by general government agencies and departments as
follows:
General government. . . . . . . . . . . . . . . . . $ 18,000
Public safety. . . . . . . . . . . . . . . . . . . . . . . . 15,000
Highways and streets . . . . . . . . . . . . . . . . 3,500
Health and sanitation . . . . . . . . . . . . . . . . 6,630
Parks and recreation. . . . . . . . . . . . . . . . . 13,940
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 57,070
6. $61,000 was paid on the amounts owed to the Central
Communications Network Internal Service Fund.
7. Other unencumbered expenditures incurred during the year
were vouchered as follows:
General government. . . . . . . . . . . . . . . . . $ 11,420
Public safety. . . . . . . . . . . . . . . . . . . . . . . . 41,280
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 52,700
8. $500,000 was loaned from the General Fund to the Addiction
Prevention Special Revenue Fund to provide working capital for
that fund. The loan is to be repaid within a year.
9. The General Fund transferred resources to other funds as
follows:
Addiction Prevention Special Revenue Fund . . . . . . . . . $
60,000
Parks and Recreation Capital Projects Fund. . . . . . . . . .
200,000

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$260,000
10. The General Fund received a transfer of $100,000 from the
Water and Sewer Enterprise Fund.
11. The city levied interest and penalties of $35,000 on the
overdue taxes receivable. Interest and penalties of $5,600 are
expected to prove uncollectible.
12. The city wrote off uncollectible taxes receivable of $23,000.
13. General government equipment with an original cost of
$300,000 and accumulated depreciation of $187,000 was sold
for $72,000, which was deposited in the General Fund.
14. Materials and supplies were used by General Fund
departments during the year as follows:
General government . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
11,000
Public safety . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
35,000
Highways and streets . . . . . . . . . . . . . . . . . . . . . . . . . . . .
75,300
Health and sanitation . . . . . . . . . . . . . . . . . . . . . . . . . . . .
39,400
Parks and recreation . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
30,000
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$190,700
15. The city entered into a capital lease for parks and recreation
equipment on December 31. The capitalizable cost of the
equipment was $90,000, including a down payment of $10,000.
16. The city contributed $60,200 to the city Police and Fire
Pension Trust Fund.
17. The General Fund received $250,000 from the Addiction
Prevention Special Revenue Fund in partial repayment of the
interfund loan.
18. The city paid vouchers payable of $235,800.
Special Revenue Fund
The Addiction Prevention Special Revenue Fund was

established in 20X4 to account for federal grants intended to
help communities prevent and battle drug and alcohol
addictions. Because this is the first year for this fund, there is
no beginning trial balance for the Addiction Prevention Special
Revenue Fund.
You are given the completed transaction worksheet (tab
APSFR). From the worksheet:
A. Prepare the 20X4 Statement of Revenues, Expenditures, and
Changes in Fund Balance for the Addiction Prevention Special
Revenue Fund (tab AP OP).
B. Prepare the 20X4 balance sheet for the Addiction Prevention
Special Revenue Fund (tab AP BS).
Parks and Recreation Capital Projects Fund
Record the following transactions to tab P&R CPF
1. The city approved a major capital improvement project to
construct a recreational facility. The project will be financed by
a bond issue of $1,500,000, transfers from the General Fund of
$500,000, and a contribution from the county of $300,000.
Record the budget assuming these amounts, along with an equal
appropriation for the project, were adopted for 20X4.
2. The city received the county’s contribution of $300,000.
These resources are required to be used for the construction
project. The grant is expenditure-driven. The city’s policies
indicate that resources restricted for a given purpose are
considered expended prior to any unrestricted resources
available for that purpose.
3. The city transferred $200,000 from the General Fund to the
Parks and Recreation Capital Projects Fund.
4. The city issued bonds with a face (par) value of $1,500,000 at
a premium of $50,000 on January 1. Bond issue costs of
$15,000 were incurred. Interest of 8% per year and $100,000 of
principal are due each December 31.
5. The city signed a $2,190,000 contract for construction of the
new recreational facility. The process to establish the contract
qualifies as a commitment under the city’s commitments policy.
6. The city purchased land as the site for the facility at a cost of

$110,000. Payment was made for the land.
7. The contractor billed the city $1,200,000. The city paid all
but a 5% retainage.
8. The outstanding encumbrances were closed (use the
transactions columns for this entry).
9. The budgetary accounts were closed at year end.
Appropriations do not lapse at year end. Close the budgetary
accounts in the transactions columns.
General Debt Service Fund
You are given the completed transaction worksheet (tab GEN
DSF). From the worksheet,
Changes in Fund Balance for the General Debt Service Fund
(tab GEN DSF OS).
B. Prepare the 20X4 balance sheet for the General Debt Service
Fund (tab GEN DSF BS).
General Capital Assets
You are given the completed transaction worksheet CGA WS;
prepare the General Capital Asset Note Disclosure (tab CGA
Note).
General Long-Term Liabilities
You are given the completed transaction worksheet GLTL;
prepare the General Long-term Liabilities Note Disclosure (tab
GLTL Note).
Water and Sewer Enterprise Fund
You are given the completed transaction worksheet (tab W&S
EF). From the worksheet,
Changes in Net Position (tab W&S OS).
B. Prepare the 20X4 Statement of Net Position (tab W&S SNP).
Central Communications Network Internal Service Fund
Record the following transactions to tab CCN ISF:
1. Billings to departments for communications network services
during 20X4 were as follows:
General Fund departments . . . . . . . . . . . . . . . . . . . . . .
$57,070

Water and Sewer Department . . . . . . . . . . . . . . . . . . . . 33,000
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$90,070
2. The department collected $61,000 from the General Fund and
$30,000 from the Enterprise Fund.
3. Payroll of $60,000 was paid, and $3,000 was contributed to
the statewide retirement system.
4. The department purchased materials and supplies costing
$14,000 and a voucher was approved.
5. Materials and supplies costing $17,700 were used by the
Central Communications Network during 20X4.
6. Vouchers payable of $15,000 were paid.
7. Depreciation for the year was $8,370.
8. Salaries and wages of $1,000 were accrued at the end of the
year.
Police and Fire Pension Trust Fund
You are given the completed transaction worksheet (tab PTF
WS). From the worksheet,
A. Prepare the 20X4 Statement of Changes in Net Position (tab
PTF OS).
B. Prepare the 20X4 Statement of Net Position (tab PTF SNP).
Fund and Government-Wide Financial Statements
The tabs colored purple are the fund and government-wide
statements. If all of your previous work is correct, your
statements will be complete and will balance. Review the purple
tabs to ensure all of your statements are complete and correct.
Once they are correct, you are done with the assignment and
may submit the entire workbook .
GF WSCity of SpringfieldGeneral FundFY 20X4
TransactionsBalance Checkers----------
BalancesBalancesBeginning of YearTransactionsEnd of
YearOperating StatementBalance SheetAccount
TitleDr.Cr.#Dr.Cr.#Dr.Cr.Dr.2Cr.Dr.1Cr.Cash1,000,0002,002,1
402,002,140-----

given200,000given559,140given243,000Investments480,000200
,000given280,000280,000-----Taxes Receivable -- Current-------
Allowance for Uncollectible Taxes -- Current-------Taxes
Receivable -- Delinquent80,900216,000given(135,100)-
135,100----Allowance for Uncollectible Taxes --
Delinquent20,000(20,000)-20,000----Interest and Penalties
Receivable33,60027,000given6,6006,600-----Allowance for
Uncollectible Interest and Penalties17,500(17,500)-17,500----
Accrued Interest Receivable2,0002,000given-------Inventory of
Materials and Supplies53,000221,200221,200-----
given168,200Vouchers Payable112,000(280,200)-280,200----
168,200givenAccrued Salaries
Payable50,00013,050given(63,050)-63,050----Deferred
Revenues-------Due to Internal Service Fund8,000(8,000)-8,000-
---Fund Balance1,442,000(1,442,000)-1,442,000----Estimated
Revenuesgiven2,032,5002,032,500given-------
Appropriationsgiven1,963,0001,963,000given-------Budgetary
Fund Balancegiven69,50069,500given-------
Encumbrancesgiven19,00019,00019,000-----Outstanding
Encumbrances19,000given(19,000)-19,000----Revenues --
Property Taxes-------Revenues -- Fines and
Forfeitures48,480given(48,480)-48,480----Revenues --
Integovernmental346,200given(346,200)-346,200----Revenues -
- Licenses and Permits122,460given(122,460)-122,460----
Revenues -- Interest40,000given(40,000)-40,000----
Expenditures -- General Government2,7002,700-----
given900given1,800Expenditures -- Public Safety19,30019,300-
----given13,500given5,800Expenditures -- Highways and
Streets5,0505,050-----given3,300given1,750Expenditures --
Health & Sanitation4,4004,400-----
given2,900given1,500Expenditures -- Parks and
Recreation4,1004,100-----given1,900given2,200Due to Water
and Sewer Fund22,500given(22,500)-22,500----Expenditures --
Capital Outlay-------Due from Addiction Prevention SRF-------
Transfer to Addiction Prevention SRF-------Transfer to Parks
and Recreation CPF---------------------Transfer from Water and

Sewer EF-------Revenues -- Interest and Penalties-------OFS --
Proceeds from Sale of Equipment-------Tax Liens Receivable----
---OFS -- Capital Lease--------------
1,649,5001,649,5005,289,8905,289,8902,564,4902,564,490----
Change in Fund Balance--------
GF OSCITY OF SPRINGFIELDGENERAL FUNDStatement of
Revenues, Expenditures, and Changes in Fund BalanceFor the
Year Ended December 31, 20X4Revenues:Taxes$ -Interest and
penalties on taxes-Licenses and permits-Fines and forfeitures-
Intergovernmental-Investment income-Total Revenues$ -
Expenditures:OperatingGeneral government-Public safety-
Highways and streets-Health and sanitation-Parks and
recreation-Capital Outlay-Total Expenditures-Excess of
Revenues over Expenditures-Other Financing Sources and
(Uses):Transfer from Enterprise Fund-Proceeds from sale of
general capital assets-Capital leases-Transfer to Special
Revenue Fund-Transfers to Capital Projects Funds-Transfer to
Debt Service Fund-Total Other Financing Sources and (Uses)-
Net Change in Fund Balance-Fund Balance, January 1,
20X41,442,000Fund Balance, December 31, 20X4$ 1,442,000
GF BSCITY OF SPRINGFIELDGENERAL FUNDBalance
SheetDecember 31, 20X4AssetsCash $ - 0Investments-Accrued
interest receivable-Taxes receivable--delinquent$ - 0Less:
Allowance for uncollectible delinquent taxes--Tax liens
receivable-Interest and penalties receivable on taxes-Less:
Allowance for uncollectible interest and penalties--Inventory of
materials and supplies-Due from Special Revenue Fund-Total
Assets$ - 0Liabilities, Deferred Inflows, and Fund
BalanceLiabilities:Vouchers payable$ - 0Accrued salaries
payable-Due to Internal Service Fund-Due to Enterprise Fund-$
- 0Deferred Inflows -- Deferred revenues-Fund Balance----
1,442,000Total Liabilities and Fund Balance$ - 0
GF BtoACITY OF SPRINGFIELDGENERAL FUNDStatement
of Revenues, Expenditures, and Changes in Fund BalanceBudget
vs. Actual (GAAP Basis)For the Year Ended December 31,
20X4Variance--

OriginalFinalFavorableBudgetBudgetActual(Unfavorable)Reven
ues:Taxes1,500,0001,500,000$ -(1,500,000)Interest and
penalties on taxes15,50015,500-(15,500)Licenses and
permits122,000122,000-(122,000)Fines and
forfeitures50,00050,000-
(50,000)Intergovernmental300,000300,000-(300,000)Investment
income45,00045,000-(45,000)Total
Revenues2,032,5002,032,500-
(2,032,500)Expenditures:Operating:General
government260,000260,000-260,000Public
safety868,000868,000-868,000Highways and
streets290,000290,000-290,000Health and
sanitation215,000215,000-215,000Parks and
recreation330,000330,000-330,000Capital Outlay-80,000-
80,000Total Expenditures1,963,0002,043,000-2,043,000Excess
of Revenues over Expenditures69,500(10,500)-10,500Other
Financing Sources and (Uses):Transfer from Enterprise Fund-
100,000-(100,000)Proceeds from sale of general capital assets--
--Capital leases-80,000-(80,000)Transfer to Special Revenue
Fund-(60,000)-(60,000)Transfers to Capital Projects Funds-
(270,000)-(270,000)Transfer to Debt Service Fund-(729,965)-
(729,965)Total Other Financing Sources and (Uses)-(879,965)-
(1,239,965)Net Change in Fund Balance69,500(890,465)-
(1,229,465)Fund Balance, January
11,442,0001,442,0001,442,000-Fund Balance, December 31$
1,511,500$ 551,535$ 1,442,000$ (1,229,465)
AP SRFCity of SpringfieldAddiction Prevention Special
Revenue FundFY 20X4 TransactionsBalance Checks----------
TitleDr.Cr.#Dr.Cr.#Dr.Cr.Dr.2Cr.Dr.1Cr.1Cash4500,000430,00
05330,000330,000---330,000-6450,000250,0008960,0001Due
from Federal Government750,00050,00050,000---50,000-
1Vouchers Payable5430,000450,0003(95,000)-95,000---
95,00075,00071Due to GF8250,000500,0004(250,000)-250,000-
--250,0001Fund Balance-------Estimated

Revenues1530,000530,00010-------
Appropriations10525,000525,0001-------Budgetary Fund
Balance105,0005,0001-------2Revenue -- Operating
Grants450,0006(500,000)-500,000-500,000--
50,00072Expenditures -- Public
Safety3450,000525,000525,000-525,000---775,0002Transfer
from GF60,0009(60,000)-60,000-60,000-----------
3,325,0003,325,000905,000905,000525,000560,000380,000345,
000Change in Fund Balance35,000-
35,000560,000560,000380,000380,000
AP OSCITY OF SPRINGFIELDADDICTION PREVENTION
SPECIAL REVENUE FUNDStatement of Revenues,
Expenditures, and Changes in Fund BalanceFor the Year Ended
December 31, 20X4Revenues: Operating GrantsExpenditures:
Public SafetyExcess of Revenues over ExpendituresOther
Financing Sources (Uses): Transfer from General FundNet
Change in Fund BalanceFund Balance, January 1, 20X4Fund
Balance, December 31, 20X4
AP BSCITY OF SPRINGFIELDADDICTION PREVENTION
SPECIAL REVENUE FUNDBalance SheetDecember 31,
20X4AssetsCash Due from Federal GovernmentTotal
AssetsLiabilities and Fund BalanceLiabilities:Vouchers
payableDue to General FundFund Balance: Total Liabilities and
Fund Balance
P&R CPFCity of SpringfieldParks and Recreation Capital
Projects FundFY 20X4 TransactionsBalance Checks----------
TitleDr.Cr.#Dr.Cr.#Dr.Cr.Dr.2Cr.Dr.1Cr.Cash-------Estimated
Revenues and OFSs-------Appropriations-------Revenues --
Intergovernmental-------Transfer from GF-------OFS -- Bond
Principal-------OFS -- Bond Premium-------Expenditures -- Debt
Service -- Bond Issue Costs-------Encumbrances-------
Encumbrances Outstanding-------Expenditures -- Capital
Outlay-------Contracts Payable -- Retained Percentage------------
-----Change in Fund Balance--------

P&R OSCITY OF SPRINGFIELDPARKS AND RECREATION
CAPITAL PROJECTS FUNDStatement of Revenues,
Expenditures, and Changes in Fund BalanceFor the Year Ended
December 31, 20X4Revenues: Intergovernmental$ -
Expenditures:Capital outlay:$ -Debt Service -- Bond Issue
Costs-Total Expenditures-Excess (Deficiency) of Revenues
Over (Under) Expenditures-Other Financing Sources and
(Uses):Transfer from General Fund-Bond Principal-Bond
Premium-Total Other Financing Sources and (Uses)-Net Change
in Fund Balance-Fund Balance, January 1, 20X4-Fund Balance,
December 31, 20X4$ -
P&R BSCITY OF SPRINGFIELDPARKS AND RECREATION
CAPITAL PROJECTS FUNDBalance SheetDecember 31,
20X4AssetsCash $ -Liabilities and Fund BalanceLiabilities:
Contracts Payable -- Retained Percentage$ -Fund Balance$
(200,000)200,000-Total Liabilities and Fund Balance$ -All
resources of this fund except those transferred from the General
Fund wererestricted for the project. Restricted resources were
assumed to be expended firstwhen both restricted and
unrestricted resources were available.In all probability, the
council took action to commit the resources transferred to
theCapital Projects Fund—particularly since the county is
financing part of the cost. If so, Committed Fund Balance is
$200,000; if not, Assigned Fund Balance is $200,000.The
$200,000 cannot be reported as Unassigned Fund Balance.
Gen DSFCity of SpringfieldGeneral Debt Service FundFY 20X4
TransactionsBalance Checks----------
TitleDr.Cr.#Dr.Cr.#Dr.Cr.Dr.2Cr.Dr.1Cr.1Cash171,3502a246,80
01,300,0007214,320214,320---214,320-
446,17061,050,0001Investments1,237,000917,0001,000,000625
4,000254,000---254,000-1Taxes Receivable --
Delinquent52,0002b53,20041,040459,79059,790---59,790-
4,37051Allowance for Uncollectible Taxes --
Delinquent5,80054,3703,0002c(4,430)-4,430---4,4301Interest

and Penalties Receivable10,90036,6505,130411,05011,050---
11,050-1,37051Allowance for Uncollectible Interest and
Penalties3,50051,3701,3703(3,500)-3,500---3,5001Deferred
Revenues50,0008b50,00052,0008a(52,000)-52,000---
52,0001Fund Balance1,411,950(1,411,950)-1,411,950---
1,411,9501Taxes Receivable -- Current1300,000246,8002a------
-53,2002b1Allowance for Uncollectible Taxes --
Current2c3,0003,0001-------2Revenues -- Property
Taxes8a45,050297,0001(295,050)-295,050-295,050--
43,1008b2Revenues -- Interest and
Penalties8a6,9505,2803(5,230)-5,230-5,230--6,9008b2Revenues
-- Interest50,0006(67,000)-67,000-67,000--
17,00092Expenditures -- Debt Service --
Principal7500,000500,000500,000-500,000---2Expenditures --
Debt Service -- Interest7800,000800,000800,000-800,000--------
--
1,471,2501,471,2503,130,5603,130,5601,839,1601,839,1601,30
0,000367,280539,1601,471,880Change in Fund Balance-
932,720932,720-1,300,0001,300,0001,471,8801,471,880
Gen DSF OSCITY OF SPRINGFIELDGENERAL DEBT
SERVICE FUNDStatement of Revenues, Expenditures, and
Changes in Fund BalanceFor the Year Ended December 31,
20X4Revenues:TaxesInterest and penalties on taxesInvestment
incomeTotal RevenuesExpenditures:Debt service:Bond
PrincipalInterestTotal ExpendituresExcess (Deficiency) of
Revenues over ExpendituresFund Balance, January 1, 20X4Fund
Balance, December 31, 20X4
Gen DSF BSCITY OF SPRINGFIELDGENERAL DEBT
SERVICE FUNDBalance SheetDecember 31, 20X4AssetsCash
InvestmentsTaxes receivable--delinquentLess: Allowance for
uncollectible delinquent taxesInterest and penalties receivable
on taxesLess: Allowance for uncollectible interest and
penaltiesTotal AssetsLiabilities, Deferred Inflows, and Fund
BalanceLiabilities:Deferred Inflows: Deferred revenuesFund
Balance:Total Liabilities, Deferred Inflows, and Fund Balance
GCA-GLTLCity of SpringfieldGeneral Capital Assets and

General Long-Term Liabilities AccountsFY 20X4
TransactionsBalance Checks----------BalancesBalancesGeneral
Capital AssetsBeginning of YearTransactionsEnd of
YearGeneral Capital AssetsGeneral Long-Term
LiabilitiesAccount
TitleDr.Cr.#Dr.Cr.#Dr.Cr.Dr.2Cr.Dr.1Cr.1Land800,000110,000
910,000910,000---910,000-
1Buildings5,300,0005,300,0005,300,000---5,300,000-
1Accumulated Depreciation --
Buildings2,200,000245,000(2,445,000)-2,445,000---
2,445,0001Machinery &
Equipment1,750,000300,0001,450,0001,450,000---1,450,000-
1Accumulated Depreciation -- Machinery &
Equipment550,000187,000222,000(585,000)-585,000---
585,0001Infrastructure13,000,00013,000,00013,000,000---
13,000,000-1Accumulated Depreciation --
Infrastructure6,000,000520,000(6,520,000)-6,520,000---
6,520,0001Construction in
Progress1,700,0001,200,0002,900,0002,900,000---2,900,000-
1Bonds Payable9,000,000500,0001,500,000(10,000,000)-
10,000,000---10,000,0001Premium on Bonds
Payable180,0003,33050,000(226,670)-226,670---226,6701Long-
Term Claims and Judgments Payable700,000(700,000)-700,000-
--700,0001Long-Term Compensated Absences
Payable220,00020,000(240,000)-240,000---240,0001Net
Position3,700,000846,670(2,853,330)-2,853,330---
2,853,3301Capital Lease Payable80,000(80,000)-80,000---
80,0001Refunding Bonds Payable-------1Leased
Equipment90,00090,00090,000---90,000-
22,550,00022,550,0002,937,0002,937,00023,650,00023,650,000
--23,650,00023,650,000Change in Net Position------
23,650,00023,650,000
net position calculationThe journal entries below provide the
detail of all transactionsaffecting the Net Position
account.Total1Net Position987,000Net
Position846,670Accumulated Depreciation --

Buildings245,000Accumulated Depreciation -- Machinery &
Equipment222,000Accumulated Depreciation --
Infrastructure520,0002Net Position20,000Long-Term
Compensated Absences Payable20,0003Premium on Bonds
Payable (related to 7-4 below)3,330Net Position *3,3305-
22Accumulated Depreciation -- Machinery and
Equipment187,000Net Position **113,000Machinery and
Equipment300,0006-27Leased Equipment90,000Capital Lease
Payable80,000Net Position10,0007-4Net
Position1,550,000Bonds Payable1,500,000Premium on Bonds
Payable50,0007-6Land110,000Net Position110,0007-
7Construction in Progress1,200,000Net Position1,200,0008-
7Bonds Payable500,000Net Position500,000*This adjustment
affects the calculation of Interest Expense in the conversion
process.**This adjustment converts the proceeds from the sale
of equipment to a loss on sale ofequipment in the conversion
process.***This adjustment affects the calculation of the
Deferred Interest Expense Adjustmentin the conversion process.
CGA WSCity of SpringfieldGeneral Capital Assets Note
Disclosure WorksheetFY 20X4
TransactionsBeginningRefRefEndingBalanceIncreases#Decrease
s#BalanceNondepreciable
AssetsLand800,000110,000910,000Construction in
Progress1,700,0001,200,0002,900,000Total Nondepreciable
Assets2,500,0001,310,000-3,810,000Depreciable
AssetsBuildings5,300,0005,300,000Machinery &
Equipment1,750,000(300,000)2,300,000850,000Leased
Equipment-
90,00090,000Infrastructure13,000,00013,000,000Total
Depreciable
Assets20,900,00090,000(300,000)20,690,000Accumulated
DepreciationBuildings(2,200,000)(245,000)(2,445,000)Machine
ry & Equipment(550,000)(222,000)187,000(730,000)(145,000)-
Leased Equipment--
Infrastructure(6,000,000)(520,000)(6,520,000)Total
Accumulated

Depreciation(8,895,000)(987,000)187,000(9,695,000)Total
Depreciable Assets,
Net12,005,000(897,000)(113,000)10,995,000Governmental
Activities Capital Assets,
Net14,505,000413,000(113,000)14,805,000
CGA NoteCity of SpringfieldGeneral Capital Assets Note
DisclosureFor the Year Ended December 31,
20X4BeginningEndingBalanceIncreasesDecreasesBalanceNonde
preciable AssetsLandConstruction in ProgressTotal
Nondepreciable AssetsDepreciable AssetsBuildingsMachinery &
EquipmentLeased EquipmentInfrastructureTotal Depreciable
AssetsAccumulated DepreciationBuildingsMachinery &
EquipmentLeased EquipmentInfrastructureTotal Accumulated
DepreciationTotal Depreciable Assets, NetGovernmental
Activities Capital Assets, NetDepreciation Expense was charged
to governmental functions as follows:General Government$
58,000Public Safety160,000Highways and Streets667,000Health
and Sanitation65,000Parks and Recreation37,000Internal
Service Funds8,370 Total Depreciation Expense$ 995,370
GLTL City of SpringfieldGeneral Long-Term Liabilities Note
WorksheetFY 20X4
TransactionsAmountsBeginningRefRefEndingDue
inBalanceIncreases#Decreases#BalanceOne YearBonds and
Notes PayableBonds
Payable9,000,0001,500,000(500,000)10,000,000600,000Premiu
m on Bonds Payable180,00050,000(3,330)226,6703,330Capital
Lease Payable-80,00080,00010,000Refunding Bonds Payable--
Total Bonds and Notes
Payable9,180,0001,630,000(503,330)10,306,670613,330Other
Long-Term LiabilitiesClaims and Judgments
Payable700,000700,000Compensated Absences
Payable220,00020,000240,000Other Long-Term
Liabilities920,00020,000-940,000-Governmental Activities
Long-Term
Liabilities10,100,0001,650,000(503,330)11,246,670613,330
GLTL NCity of SpringfieldGeneral Long-Term Liabilities

NoteFor the Year Ended December 31,
20X4AmountsBeginningEndingDue
inBalanceIncreasesDecreasesBalanceOne YearBonds and Notes
PayableBonds PayablePremium on Bonds PayableCapital Lease
PayableRefunding Bonds PayableTotal Bonds and Notes
PayableOther Long-Term LiabilitiesClaims and Judgments
PayableCompensated Absences PayableOther Long-Term
LiabilitiesGovernmental Activities Long-Term Liabilities
W&S EFCity of SpringfieldWater and Sewer Enterprise FundFY
20X4 TransactionsBalance Checkers----------
0202,0005344,000344,000---344,000-
88,000120,000630,0007120,0001182,00012100,000141Accounts
Receivable45,0001827,500815,000251,10051,100---51,100-
6,40031Allowance for Uncollectilbe
Accounts1,10036,4008,1751(2,875)-2,875---2,8751Inventory of
Materials and Supplies27,000989,90088,7001028,20028,200---
28,200-1Customer Deposits -- Cash30,00044,50034,50034,500--
-34,500-1Land17,00017,00017,000---17,000-
1Buildings1,200,0001,200,0001,200,000---1,200,000-
1Accumulated Depreciation --
Buildings300,00040,00013(340,000)-340,000---
340,0001Machinery and
Equipment2,000,0002,000,0002,000,000---2,000,000-
1Accumulated Depreciation -- Machinery and
Equipment1,000,000150,00013(1,150,000)-1,150,000---
1,150,0001Water and Sewer
Lines4,500,0004,500,0004,500,000---4,500,000-1Accumulated
Depreciation -- Water and Sewer
Lines3,250,000110,00013(3,360,000)-3,360,000---
3,360,0001Vouchers Payable68,0001282,00089,9009(75,900)-
75,900---75,9001Accrued Interest Payable5001150045016(450)-
450---4501Customer Deposits Payable30,0004,5004(34,500)-
34,500---34,5001Bonds Payable - long

term720,0001780,000(640,000)-640,000---640,0001 Bonds
Payable -
current80,0001180,00080,00017(80,000)80,00080,0001Long-
Term Claims and Judgments Payable25,000(25,000)-25,000---
25,0001Net Position2,519,400(2,519,400)-2,519,400---
2,519,4002Water Sales (net of x,xxx in
allowances)524,8401(524,840)-524,840-524,840--2Sewer Fees
(net of x,xxx in allowances)316,9851(316,985)-316,985-
316,985--2Salaries and Wages
Expense5190,000190,000190,000-190,000---2Pension
Expense512,00012,00012,000-12,000---
1Investments6120,000120,000120,000---120,000-
2Communications Expense733,00033,00033,000-33,000---1Due
to ISF3,0007(3,000)-3,000---3,0002Interest
Revenue8,0008(8,000)-8,000-8,000--2Materials and Supplies
Expense1088,70088,70088,700-88,700---2Interest
Expense1139,50039,95039,950-39,950---154502Depreciation
Expense -- Equipment13150,000150,000150,000-150,000---
2Depreciation Expense -- Buildings1340,00040,00040,000-
40,000---2Depreciation Expense -- Water and Sewer
Lines13110,000110,000110,000-110,000---2Transfer to
GF14100,000100,000100,000-100,000---1Salaries Payable-------
1Due from GF122,50022,50022,500---22,500--------
7,994,0007,994,0002,899,9502,899,9509,080,9509,080,950763,
650849,8258,317,3008,231,125Change in Fund Balance86,175--
86,175849,825849,8258,317,3008,317,300
W&S OSCITY OF SpringfieldWATER AND SEWER
ENTERPRISE FUNDStatement of Revenues, Expenses, and
Changes in Net PositionFor the Year Ended December 31,
20X4Operating Revenues:Water Sales (net of $x,xxx in
allowances)Sewage Fees (net of $x,xxx in allowances)Operating
Expenses:Salaries and WagesPensionsMaterials and
SuppliesDepreciationCommunication ServicesOperating
IncomeNonoperating Revenues and Expenses:Investment
IncomeInterest expenseIncome before TransfersTransfer to
General FundChange in Net PositionNet Position, January 1,

20X4Net Position, December 31, 20X4
W&S SNPCITY OF SPRINGFIELDWATER AND SEWER
ENTERPRISE FUNDStatement of Net PositionDecember 31,
20X4ASSETSCurrent Assets:CashDue from General
FundInvestmentsAccounts receivable (net of
uncollectibleaccounts of $x,xxx)Inventory of materials and
suppliesTotal Current AssetsNoncurrent Assets:Restricted
Assets:Customer deposits--cashProperty, Plant, and
Equipment:LandBuildingsLess: Accumulated
depreciationMachinery and equipmentLess: Accumulated
depreciationWater and sewer linesLess: Accumulated
depreciationTotal Property, Plant, and EquipmentTotal
Noncurrent AssetsTotal AssetsLIABILITIESCurrent
Liabilities:Vouchers payableAccrued interest payableDue to
Internal Service FundAccrued salaries payableBonds
payableTotal Current LiabilitiesLong-Term Liabilities:Customer
deposits payableBonds payableClaims and judgments
payableTotal Long-Term LiabilitiesTotal LiabilitiesNET
POSITIONNet Investment in Capital Assets--Total Net
Position$ -
W&S NP CalcCity of Harvey CityWater and Sewer Enterprise
FundComputation of Net Position Components December 31,
20X4NetInvestment
inAsset/LiabilityUnrestrictedRestrictedCapital AssetsCash---
Investments---Due from General Fund---Accounts Receivable
(net)---Materials and Supplies---Capital Assets (net)---Vouchers
Payable---Accrued Interest Payable---Due to Internal Service
Fund---Accrued Salaries Payable---Customer Deposits Payable--
-Bonds Payable---Claims and Judgments Payable--- Totals---
Note: This is not part of the financial statements presentation.
W&S SCFCITY OF HARVEY CITYWATER AND SEWER
ENTERPRISE FUNDStatement of Cash FlowsFor the Year
Ended December 31, 20X4Cash Flows from Operating
Activities:Cash received from customers$ (22,325)Cash paid
to employees-Cash paid for materials and services9,700Net cash
flows from operating activities(12,625)Cash Flows from

Noncapital Financing Activities:Cash paid in transfer to General
Fund-Cash Flows from Capital and Related Financing
Activities:Cash paid to retire bond principal(80,000)Cash paid
for interest(40,000)Net cash flows from capital and related
financing activities(120,000)Cash Flows from Investing
Activities:Cash paid for investments(120,000)Cash received
from investment income-Net cash flows from investing
activities(120,000)Increase in cash(252,625)Cash balance,
January 1, 20X4205,000Cash balance, December 31, 20X4$
(47,625)Reconciliation of Operating Income to Net
CashProvided by Operating Activities:Operating income$ -
Adjustments to reconcile operating income to net cash provided
by operating activities:Depreciation$ -Changes in assets and
liabilities:Change in accounts receivable(4,325)Change in
interfund receivables for services(22,500)Change in inventory
of materials and supplies(1,200)Change in vouchers
payable7,900Change in salaries and wages payable-Change in
interfund liabilities for services3,000Change in customer
deposits payable4,500(12,625)Net cash flows from operating
activities$ (12,625)Reconciliation of ending cash balance to
balance sheet:Cash$ -Customer Deposits--Cash-Total cash
balance, December 31, 20X4$ -
CCN ISFCity of SpringfieldCentral Communications Network
Internal Service FundFY 20X4 TransactionsBalance Checkers---
-------BalancesBalancesBeginning of YearTransactionsEnd of
TitleDr.Cr.#Dr.Cr.#Dr.Cr.Dr.2Cr.Dr.1Cr.Cash57,00057,00057,0
00-----Due from GF8,0008,0008,000-----Inventory of Materials
and Supplies5,8005,8005,800-----Machinery and
Equipment850,000850,000850,000-----Accumulated
Depreciation -- Machinery and Equipment145,000(145,000)-
145,000----Vouchers Payable3,800(3,800)-3,800----Net
Position772,000(772,000)-772,000----Billings to Departments --
General Fund-------Billings to Departments -- Enterprise Fund--
-----Due from EF-------Salaries Expense-------Supplies
Expenses-------Depreciation Expense -- Machinery and

Equipment-------Salaries Payable-------Pension Expense----------
----920,800920,800--920,800920,800----Change in Fund
Balance--------
CCN OSCITY OF SPRINGFIELDCENTRAL
COMMUNICATIONS NETWORK INTERNAL SERVICE
FUNDStatement of Revenues, Expenses, and Changes in Net
PositionFor the Year Ended December 31, 20X4Operating
Revenues:Billings to Departments$ -Operating
Expenses:Salaries and Wages$ -Pensions-Materials and
Supplies-Depreciation-- Operating Income-Net Position,
January 1, 20X4772,000Net Position, December 31, 20X4$
772,000
CCN SNPCITY OF SPRINGFIELDCENTRAL
FUNDStatement of Net PositionDecember 31,
20X4ASSETSCurrent Assets:Cash$ -Due from General Fund-
Due from Enterprise Fund-Inventory of Materials and Supplies-
Total Current Assets$ -Noncurrent Assets:Machinery and
Equipment-Less: Accumulated Depreciation-Total Noncurrent
Assets-Total Assets-LIABILITIESCurrent Liabilities:Vouchers
Payable-Accrued Salaries Payable-Total Liabilities-NET
POSITIONNet Investment in Capital Assets--Total Net
Position$ - 0
CCN SCFCITY OF SPRINGFIELDCENTRAL
FUNDStatement of Cash FlowsFor the Year Ended December
31, 20X4Cash Flows from Operating Activities:Cash received
from departments$ 8,000Cash paid to employees- 0Cash paid
for materials and services2,000Net cash provided by operating
activities$ 10,000Cash balance, January 157,000Cash balance,
December 31$ 67,000Reconciliation of Operating Income to
Net CashProvided by Operating Activities:Operating income$
-Adjustments to reconcile operating income to net cash provided
by operating activities:Depreciation-Changes in assets and
liabilities:Change in interfund receivables for
services8,000Change in inventory of materials and

supplies5,800Change in vouchers payable(3,800)Change in
salaries and wages payable-10,000Net cash provided by
operating activities$ 10,000
PTF WSCity of SpringfieldPension Trust FundFY 20X4
TransactionsBalance Checkers----------
60,200292,90092,900---92,900-
668,6009,00038,700478,00051Investments1,271,800260,2001,3
97,0001,397,000---1,397,000-765,0001Accrued Interest
Receivable8,600717,0008,600617,00017,000---17,000-1Due to
Resigned Employees4003400-------1Net Position -- Restricted
for Pension Benefits1,400,000(1,400,000)-1,400,000---
1,400,0002Contributions -- Employer60,2001(60,200)-60,200-
60,200--2Deductions -- Refunds to Resigned
Employees28,6008,6008,600-8,600---2Deductions --
Administrative Costs49,4009,4009,400-9,400---1Vouchers
Payable7004(700)-700---7002Deductions -- Benefits
579,00079,00079,000-79,000---1Annuities
Payable1,0005(1,000)-1,000---1,0002Additions -- Interest
Income60,0006(125,000)-125,000-125,000--65,00072Additions
-- Increase in Fair Value of Investments17,0007(17,000)-
17,000-17,000----------------
1,400,4001,400,400368,400368,4001,603,9001,603,90097,0002
02,2001,506,9001,401,700Change in Fund Balance105,200--
105,200202,200202,2001,506,9001,506,900
PTF OSCITY OF SPRINGFIELDPOLICE AND FIRE PENSION
TRUST FUNDStatement of Changes in Net PositionFor the Year
Ended December 31, 20X4Additions:Employer
ContributionsInvestment incomeInterestNet increase in
investment fair valueTotal additionsDeductions:Retirement
benefitsRefunds of contributionsAdministrative costsTotal
deductionsChange in net position held in trust for pension
benefitsNet Position Restricted for Pension Benefits, January 1,
20X4Net Position Restricted for Pension Benefits, December

31, 20X4
PTF SNPCITY OF SPRINGFIELDPOLICE AND FIRE
PENSION TRUST FUNDStatement of Net PositionDecember
31, 20X4Assets:CashAccrued interest
receivableInvestmentsTotal assetsLiabilities:Vouchers
payableAnnuities payableTotal liabilitiesNet Position Held in
Trust for Pension Benefits
Gov Fund OSCITY OF SPRINGFIELDGOVERNMENTAL
FUNDSStatement of Revenues, Expenditures, and Changes in
Fund BalanceFor the Year Ended December 31,
20X4AddictionParks
andGovernmentalGeneralPreventionRecreationGeneralFundsFun
dSRFCPFDSFTotalRevenues:Taxes$ -$ -$ -$ -$ -Interest
and Penalties on Taxes-----Licenses and Permits-----Fines and
Forfeitures-----Intergovernmental-----Investment Income-----
Total Revenues-----Expenditures:OperatingGeneral
Government-----Public Safety-----Highways and Streets-----
Health and Sanitation-----Parks and Recreation-----Capital
Outlay-----Debt ServicePrincipal-----Interest-----Bond Issue
Costs-----Payment to Refunding Bond Escrow Agent-----Total
Expenditures-----Excess (Deficiency) of Revenues Over (Under)
Expenditures-----Other Financing Sources and (Uses):Transfer
from General Fund-----Transfer from Enterprise Fund-----
Proceeds from sale of general capital assets-----Bond Principal--
---Bond Premium-----Capital leases-----Transfer to Addiction
Prevention SRF-----Transfers to Capital Projects Funds-----
Total Other Financing Sources and (Uses)-----Net Change in
Fund Balance-----Fund Balance, January 11,442,000---
1,442,000Fund Balance, December 31$ 1,442,000$ -$ -$ -$
1,442,000
Gov Fund BSCITY OF SPRINGFIELDGOVERNMENTAL
FUNDSBalance SheetDecember 31, 20X4AddictionParks
andGovernmentalGeneralPreventionRecreationGeneralFundsFun
dSRFCPFDSFTotalAssetsCash $ -$ -$ -$ -$ -
Investments-----Due from Federal Government-----Due from
Addiction Prevention SRF-----Taxes Receivable--Delinquent

(net)-----Interest and Penalties Receivable on Taxes (net)-----
Inventory of Materials and Supplies-----Total Assets$ -$ -$
-$ -$ -Total Liabilities, Deferred Inflows, and Fund
BalancesLiabilities:Vouchers Payable$ -$ -$ -$ -$ -
Accrued Salaries Payable-----Contracts Payable -- Retained
Percentage-----Due to General Fund-----Due to Internal Service
Fund-----Due to Enterprise Fund-----Total Liabilities-----
Deferred Inflows -- Deferred revenues-----Fund
BalancesNonspendable-----Restricted--(200,000)-
(200,000)Committed--200,000-200,000Assigned-----
Unassigned-----Total Fund Balances-----Total Liabilities,
Deferred Inflows, and Fund Balances$ -$ -$ -$ -$ -
Prop Fund OSCITY OF SPRINGFIELDPROPRIETARY
FUNDSStatement of Revenues, Expenses, and Changes in Net
PositionFor the Year Ended December 31, 20X4CentralWater
andCommunicationsSewerNetworkEnterpriseInternal
ServiceFundFundOperating Revenues:Water Sales (net of
$5,160 in allowances)$ -$ -Sewage Fees (net of $3,015 in
allowances)--Billing to Departments--Total Operating
Revenues--Operating Expenses:Salaries and Wages--Pensions--
Materials and Supplies--Depreciation--Communication
Services--Total Operating Expenses--Operating Income--
Nonoperating Revenues and Expenses:Investment Income--
Interest--Total Nonoperating Revenues and Expenses--Income
before Transfers--Transfer to General Fund--Change in Net
Position--Net Position, January 1, 20X4-772,000Net Position,
December 31, 20X4$ -$ 772,000
Prop Fund SNPCITY OF SPRINGFIELDPROPRIETARY
FUNDSStatement of Net PositionDecember 31,
20X4CentralWater
andCommunicationsSewerNetworkEnterpriseInternal
ServiceFundFundASSETSCurrent Assets:Cash$ -$ -Due from
General Fund--Due from Enterprise Fund--Investments--
Accounts receivable (net of uncollectibleaccounts of $2,875)--
Inventory of materials and supplies--Total Current Assets--
Noncurrent Assets:Restricted Assets:Customer deposits--cash--

Property, Plant, and Equipment:Land--Buildings (net)--
Machinery and equipment (net)--Water and sewer lines (net)--
Total Property, Plant, and Equipment (net)--Total Noncurrent
Assets--Total Assets--LIABILITIESCurrent
Liabilities:Vouchers payable--Accrued interest payable--Due to
Internal Service Fund--Accrued salaries payable--Bonds
payable--Total Current Liabilities--Long-Term
Liabilities:Customer deposits payable--Bonds payable--Claims
and judgments payable--Total Long-Term Liabilities--Total
Liabilities--NET POSITIONNet Investment in Capital Assets--
Unrestricted--Total Net Position$ -$ -
GF OS ConversionCITY OF SPRINGFIELDGOVERNMENTAL
FUNDSOperating Statement Conversion WorksheetFor the Year
Ended December 31,
20X4GovernmentalGovernmentalInternalOther
ChangesActivitiesFundsServiceGCAGLTLand
InterfundStatement
ofTotalFundsChangesChangesItemsActivitiesRevenues:Taxes-
1,9501,950Interest and Penalties on Taxes-5050Licenses and
Permits--Fines and Forfeitures--Intergovernmental--Investment
Income--Total Revenues----
2,0002,000Expenditures:OperatingGeneral Government-
58,00058,000Public Safety-160,000160,000Highways and
Streets-667,000667,000Health and Sanitation-65,000-
65,000Parks and Recreation-37,00037,000Economic
Development--Other--Capital Outlay---Debt Service-Principal--
-Interest--(3,330)(3,330)Bond Issue Costs---Payment to
Refunding Bond Escrow Agent--Total Expenditures--987,000-
(3,330)983,670Other Financing Sources and (Uses):Transfer
from General Fund---Transfer from Enterprise Fund--Proceeds
from sale of general capital assets---Bond Principal---Bond
Premium---Refunding Bonds--Capital leases---Payment to
Refunding Bond Escrow Agent--Transfer to Addiction
Prevention SRF---Transfers to Capital Projects Funds---Transfer
to Debt Service Fund--Total Other Financing Sources and
(Uses)------Net Change in Fund Balance--(987,000)-

5,330(981,670)
GF BS ConversionCITY OF SPRINGFIELDGOVERNMENTAL
FUNDSBalance Sheet Conversion WorksheetDecember 31,
20X4GovernmentalGovernmentalInternalOther
ChangesActivitiesFundsServiceGCAGLTLand
InterfundStatement
ofTotalFundsChangesChangesItemsActivitiesCash ---
Investments--Accrued Interest Receivable--Due from Federal
Government--Due from General Fund---Due from Special
Revenue Fund---Due from Enterprise Fund---Internal Balances--
Taxes Receivable--Delinquent (net)--Tax Liens Receivable--
Interest and Penalties Receivable on Taxes (net)--Inventory of
Materials and Supplies---Land--Construction in Progress--
Buildings (net)--Machinery & Equipment (net)---Leased
Equipment (net)--Infrastructure (net)--------Deferred Outflows -
- Deferred Interest Expense Adjustment-Liabilities:Vouchers
Payable---Accrued Salaries Payable---Contracts Payable --
Retained Percentage--Due to General Fund---Due to Internal
Service Fund---Due to Enterprise Fund---Interest
Payable580,000580,000Unearned Revenues------
580,000580,000Deferred Inflows -- Deferred revenues---Bonds
Payable--Premium on Bonds Payable--Capital Lease Payable--
Refunding Bonds Payable-Claims and Judgments Payable--
Compensated Absences Payable--------Fund Balances----
(580,000)(580,000)
One WorksheetSpringfieldWorksheet to Derive Governmental
ActivitiesFor the Year Ended December 31,
20X4`2,273,330(580,000)(2,853,330)Totals--
AllPreclosingStatement ofStatement ofAccountsGovernmental
FundsAdjustmentsTrial BalanceActivitiesNet
AssetsDebitCreditRef.DebitCreditRef.DebitCreditDebitCreditDe
bitCreditCash-18---Investments---Due from Addiction
Prevention Special Revenue Fund--19-Due from Federal
Government---Taxes Receivable -- Delinquent---Allowance for
Uncollectible Taxes -- Delinquent---Interest and Penalties
Receivable (net)---Allowance for Uncollectible Interest and

Penalties---Tax Liens Receivable---Accrued Interest
Receivable---Inventory of Materials and Supplies-18---
Vouchers Payable--18--Accrued Salaries Payable--18--Contracts
Payable--Retained Percentage---Deferred Revenues (Deferred
Inflow)-17--Unearned Revenues---Due to Internal Service Fund-
19--Due to Enterprise Fund-21--Due to General Fund-19--
Reserve for EncumbrancesTotal Fund Balance (Preclosing)-22--
Revenue:Taxes-17--Interest and Penalties on Taxes-17--
Licenses and Permits---Fines and Forfeitures---
Intergovernmental---Investment Income---Current Operating
Expenditures/Expenses:General Government-
458,00058,00058,000Public Safety-
4160,000160,000160,000Highways and Streets-
4667,000667,000667,000Health and Sanitation-
465,00085,00085,0001620,000Parks and Recreation-
437,00037,00037,00015-Economic Development-4---Other---
Capital Outlay Expenditures--1-Debt Service
Expenditures:Principal Retirement--8-Interest-13-
3,3309576,670576,67014--1212580,000Payment to Refunded
Bond Escrow Agent--10-Bond Issue Costs--14-Other Financing
SourcesBonds-5--Bond Premium-5--Refunding Bonds-6--
General Capital Asset Sale Proceeds-3--Capital Leases-7--
Transfers from General Fund-20--Transfers from Water and
Sewer Enterprise Fund---Other Financing Uses:Transfers to
Addiction Prevention Special Revenue Fund--20-Transfers to
Capital Projects Funds--20-Transfers to Refunding Debt
Service Fund--20-Payment to Refunded Bond Escrow Agent--
10- Governmental Funds--Totals--
Land800,0001110,000910,000910,000Buildings5,300,0005,300,
0005,300,000Accumulated Depreciation--
Buildings2,200,000245,00042,445,0002,445,000Machinery and
Equipment1,750,00018-
300,00031,450,0001,450,000Accumulated Depreciation--
Machinery and
Equipment550,0003187,000222,0004585,000585,000-
18Infrastructure (Streets, Roads, and Bridges)13,000,0002-

13,000,00013,000,000Accumulated Depreciation--
Infrastructure6,000,000520,00046,520,0006,520,000Constructio
n in Progress1,700,00011,200,00022,900,0002,900,000Bonds
Payable9,000,0008500,0001,500,000510,000,00010,000,00010-
6Premium on Bonds
Payable180,00093,33050,0005226,670226,67010-11-Long-term
Claims and Judgments Payable700,000-15700,000700,000Long-
term Compensated Absences
Payable220,00020,00016240,000240,000Total Net
Position3,700,00012-174,472,0004,472,000772,00018-
2222,550,00022,550,000Equipment Under Capital
Lease190,00090,00090,000Loss on Sale of Capital
Assets341,00041,00041,000Capital Lease
Liabilities80,000780,00080,000Deferred Interest Expense
Adjustment1013--Accrued Interest on
Bonds580,00012580,000580,000Due from General Fund18--19-
Due from Enterprise Fund18--21-Internal Balances-21--
3,718,3304,292,33025,274,67025,848,6701,624,670-
23,650,00025,848,670Change in Net Assets(574,000)(574,000)-
1,624,6702,198,670-1,624,6701,624,67025,848,67025,848,670
GW SNPCITY OF SPRINGFIELDStatement of Net
PositionDecember 31, 20X4Primary
GovernmentGovernmentalBusiness-
typeASSETSActivitiesActivitiesTotalCash $ -$ -$ -
Investments---Accounts Receivable (net)---Due from Federal
Government---Internal Balances---Taxes Receivable--
Delinquent (net)---Interest and Penalties Receivable on Taxes
(net)---Inventory of Materials and Supplies---Restricted Cash --
Customer Deposits---Land---Construction in Progress---
Buildings (net)---Machinery & Equipment (net)---Leased
Equipment (net)---Water and Sewer Lines (net)---Infrastructure
(net)---Total assets---LIABILITIESVouchers Payable---Accrued
Salaries Payable---Contracts Payable -- Retained Percentage---
Interest Payable580,000-580,000Noncurrent liabilities:Amounts
due within one yearBonds Payable---Premium on Bonds
Payable---Capital Lease Payable---Amounts due in more than

one yearCustomer Deposits Payable---Bonds Payable---Premium
on Bonds Payable---Capital Lease Payable---Claims and
Judgments Payable---Compensated Absences Payable---Total
liabilities580,000-580,000NET POSITIONNet Investment in
Capital Assets585,000-585,000Restricted for:Capital
Projects(200,000)-(200,000)Debt service---
Unrestricted(965,000)-(965,000) Total Net Assets$
(580,000)$ -$ (580,000)(2,853,330)-Computation of Net
Investment in Capital Assets:Capital assets, net-Bonds payable,
less unexpended proceeds*585,000Capital lease liabilities-
Contracts payable-Net Investment in Capital
Assets585,000*Unexpended proceeds = $1,535,000 - $1,250,000
+ $300,000 = $585,000 (Assumes that restricted )resources are
expended before the unrestricted resources transferred in from
the General Fund.Net assets restricted for addiction prevention
would be negative and therefore cannot be reported. Negative
restricted net assets are not permitted by GASB Statement 34.
BS ReconSpringfieldReconciliation of Total Fund Balances of
Governmental Fundsto Net Assets of Governmental
ActivitiesDecember 31, 20X4Total Fund Balances, All
Governmental Funds$ -Capital assets used in governmental
activities are not financial resources and therefore are not
reported in the funds.-Certain other amounts are not available to
pay current-period expenses and are therefore deferred in the
funds.-Certain amounts are recorded only in accrual accounting
and are not included in the fund financial statements.-Long-term
liabilities, including bonds payable, related interest payable,
and other related accounts, are not due and payable in the
current period and therefore are not reported in the
governmental funds.(580,000)Internal Service Funds are used
by management to charge the costs of certain activities, such as
communication services, to individual funds. The assets and
liabilities are included in governmental activities in the
Statement of Net Position.-Net Position of the Governmental
Activities$ (580,000)-
GW SoACity of SpringfieldStatement of ActivitiesFor the Year

Ended December 31, 20X4Program RevenuesNet (Expenses)
Revenues and Changes in Net AssetsPrimary
GovernmentChargesOperating forGrants
andCapitalGovernmentalBusiness-
TypeFunctions:ExpensesServicesContributionsGrantsActivities
ActivitiesTotalPrimary governmentGovernmental
activities:General government$ 58,000$ -$ -$ -$
(58,000)$ -$ (58,000)Public safety160,000--(160,000)-
(160,000)Highways and streets667,000---(667,000)-
(667,000)Health and sanitation65,000---(65,000)-(65,000)Parks
and recreation37,000-(37,000)-(37,000)Interest(3,330)---3,330-
3,330Total governmental activities983,670---(983,670)-
(983,670)Business-type activities:Water and Sewer Activity-----
--Total primary government$ 983,670$ - 0$ - 0$ -
0(983,670)-(983,670)General revenues: Property taxes, levied
for general purposes2,000-2,000 Unrestricted grant
revenues62,000-62,000 Unrestricted investment
income(62,000)-(62,000)Transfers---Total general revenues,
special items and transfers2,000-2,000Change in Net
Position(981,670)-(981,670)Net Position, January 1,
20X4401,6702,519,4002,921,070Net Position, December 31,
20X4$ (580,000)$ 2,519,400$ 1,939,400
OS ReconCITY OF SPRINGFIELDReconciliation of Total
Changes in Fund Balance of Governmental Fundsto Changes in
Net Position of Governmental ActivitiesFor the Year Ended
December 31, 20X4Total Changes in Fund Balance, All
Governmental Funds$ -Governmental funds report capital
outlays as expenditures. However, in the Statement of
Activities, the cost of those assets is allocated over their
estimated useful lives as (987,000)Depreciation Expense. The
capital outlays ($3,467,400) exceeded depreciation expense
($995,000) in the current period.In the Statement of Activities,
gains and losses from sales of capital assets are reported,
whereas in the governmental funds only the proceeds of the sale
are reported. Thus the change in net position differs from the
change in fund balance by the book value of the assets sold.-

Revenues in the Statement of Activities that do not provide
current financial resources are not reported as revenues in the
funds.2,000Bond proceeds proide current financial resources to
the governmental funds, but issuing debt increases long-term
liabilities in the Statement of Net Position. Repayment of bond
principal is an expenditure in the governmental funds, but the
repayment reduces long-term liabilities in the Statement of Net
Position.-Interest expenditures are recognized when due;
interest expense is accrured. This is the amount by which the
accrual exceeds the amount due.3,330This amount represents
expenses that do not require current financial resources and are
not reported as expenditures.-Changes in Net Position$
(981,670)
Sheet1
ACC 322Final Project One: Governmental Accounting
Guidelines and Rubric
Overview
The first final project for this course is the creation of an
accounting workbook and accompanying informational report to
taxpayers.
Governments are unique in that most of their revenue comes
from taxes and fees imposed upon the citizens. It is the
responsibility of the government accountant to provide
accountability for these funds through financial reports.
By working through this project, you will understand how
revenues and expenditures are accounted for in governments.
The information is presented in various funds that provide
accountability at a more detailed level through fund-level
statements. The information is also presented in big-picture
form through government-wide statements.
In the accounting workbook and report, you will use course-
provided information to (1) analyze government transactions for
various funds in accordance with the standards of the

Government Accounting Standards Board (GASB);(2) create
and use fund financial statements to assist in the creation of
government-wide statements; and (3) communicate the results
of operations to interested taxpayer groups.
In this assignment, you will demonstrate your mastery of the
following course outcomes:
used for the preparation of financial statements to promote
accountability in financial reporting and inform decision-
making
ial statements, and supporting
documentation that impact reporting for nonprofit and
governmental entities using appropriate accounting standards
in determining the fiscal position of various entities using
appropriate tools of the discipline
needs of governmental and nonprofit organizations
communicating the differences between private sector,
governmental, and nonprofit reporting to stakeholders
Prompt
You are the accountant for a local government. Your job
requires that you analyze transactions, post to ledgers, and
prepare financial statements. Using the Final Project One Case
Study document and the Final Project One Student Workbook
spreadsheet provided, you will prepare an accounting workbook,
which includes supporting journals for governmental funds,
proprietary funds, and fiduciary funds. The supporting journals
will be used in preparation of the fund’s financial statements.
You will then perform a reconciliation to prepare the
government-wide financial statements for governmental
activities and business activities. Finally, you will prepare a
five-to seven-page informational report explaining the different
funds to a taxpayer group interested in understanding the

purpose of the funds.
Specifically, the following critical elements must be addressed:
I. Prepare an accounting workbook with supporting journals for
governmental, proprietary, and fiduciary funds.
a) Analyze all transactions in the Final Project One Case Study
document and Final Project One Student Workbook spread sheet
to determine proper handling.
b) Prepare all supporting journals for the governmental funds.
c) Prepare all supporting journals for the proprietary funds.
d) Prepare all supporting journals for the fiduciary funds.
e) Interpret the supporting journal to prepare fund financial
statements.
f) Analyze the financial activity to prepare reconciliation from
the fund financial statements to government-wide financial
statements.
II. Prepare an informational report to taxpayers

a) Interpret and discuss the governmental funds section of your
workbook.
i. Define governmental funds.
ii. Identify and summarize activities in governmental funds.
iii. Explain how the governmental funds section of your
workbook tells the taxpayers about the financial position of the
government.
b) Interpret and discuss the proprietary funds section of your
workbook.
i. Define proprietary funds.
ii. Identify and summarize activities in proprietary funds.
iii. Explain how the proprietary funds section of your workbook
tells the taxpayers about the financial position of the
government.
c) Interpret and discuss the fiduciary funds section of your
report.
i. Define fiduciary funds.
ii. Identify and summarize activities in fiduciary funds.
iii. Explain how the fiduciary funds section of your workbook
tells the taxpayers about the financial position of the
government.
Final Project One Rubric
Guidelines for Submission:You will submit your completed
Final Project One Student Workbook, and include the required
entries, statements, and schedules using the appropriate Excel
worksheet. Your informational report to tax payers must be 5–
7pages in length (plus a cover page and references) and must be
written in APA format. Use double spacing, 12-point Times
New Roman font, and one-inch margins.

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