Depreciation expense for the year 2023 needs to be recorded for various governmental activities such as public safety, public works, health and welfare, and culture and recreation. In addition, closing entries must be made at the government-wide level to close out temporary accounts and recognize changes in net position accounts for the year ending December 31, 2023. The closing entries include closing temporary accounts and recognizing the portions of net position that are restricted for items such as capital assets, public safety, capital projects, and debt service, net of any accrued interest on long-term debt.