21,250,000 3,540,000 1,820,000 3,950,000 8,000,000 04,000 2,800,000 22,100,000 9
ID: 2581800 • Letter: 2
Question
21,250,000 3,540,000 1,820,000 3,950,000 8,000,000 04,000 2,800,000 22,100,000 9,160,000 1,800,000 ent ISF 9,637,000 265,000 3,200,000 Risk Management ISF 11,951,000 8,900,000 7,700,000 Public Parking EF Jentify which funds of Alderman City are, at a minimum, required to be reported as major funds. P13- 3 (Statement of Activities) Prepare a Statement of Activities for Tazewell County for calen- dar year 20X9, given the following: Proceeds from sale of general government land* . . . . Capital grants for transportation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . … und General property tax revenues . ..................................$70,000,000 2,200,000 300,000 12,000,000 9,000,000 ement ement Grants rExplanation / Answer
Tazewell country Statement of Activities
for the year December 31,20X9
Functions:
Expenses
Programme revenues
Net (Expenses) Revenues and changes in Net assets Primary Government
Charges for services
Operating grants and contributions
Capital grants
governmental activities
Business-type activities
total
General Government
$10,000,000
($10,000,000)
($10,000,000)
Public safety
1,8000,000
(18,000,000)
(18,000,000)
Education
3,4000,000
$12,000,000
(5)(22,000,000)
(22,000,000)
Transportation
24,000,000
$9,000,000
(6)(15,000,000)
(15,000,000)
Culture and recreation
1,500,000
(1,500,000)
(1,500,000)
Interest
3,000,000
(3,000,000)
(3,000,000)
total governmental activities
(1)90,500,000
$12,000,000
$9,000,000
(69,500,000)
(69,500,000)
Business type activities:
Water service
11,900,000
13,000,000
(7)1,100,000
1,100,000
total Business type activities
(2)11,900,000
13,000,000
1,100,000
1,100,000
total primary government (3)
$1,02,400,000
13,000,000
$12,000,000
$9,000,000
1,100,000
(4)68,400,000
General Revenues:
Property taxes, levied for general purposes
7,00,00,000
7,00,00,000
Unrestricted Grant revenues
3,00,000
3,00,000
special item, gain on sale of land($2,200,000-3,50,000)
18,50,000
18,50,000
Extraordinary loss- tornado damage
(3,10,000)
(3,10,000)
Transfers
(4,000,000)
4,000,000
Total general revenues, special items and transfers
67,840,000
4,000,000
7,18,40,000
Change in net assets
(8) (1,660,000)
(9)5,100,000
(10)3,440,000
Net assets - Beginning
26,530,000
4,000,000
30,530,000
Net assets - ending
(11)$24,870,000
$9,100,000
(12) $33,970,000
Working note : 1.
Calculation of total net expenses:
From government activities: (1)
$90,500,000
From Business activities: (2)
11,900,000
Total expenses (3)
1,02,400,000
Less: Total grants and others:
Charges for services
1,3,000,000
Operating grants
12,000,000
Capital grants
9,000,000
34,000,000
Net expenses (4)
68,400,000
Working note: 2
Education exp.
34,000,000
less:Grant
12,000,000
net education exp.(5)
22,000,000
working note: 3
Transportation
24000000
Less: grant
9000000
net exp.(6)
15000000
Working note: 4
income from business activities (7)
water service charges
13000000
less: exp.
11900000
1100000
Working note: 5
Change in net assets:
total governement activities:
69500000
(90500000 - 12000000 - 9000000)
less: total general revenue
67840000
(70,000,000 + 3,000,000 + 1850000 - 310000 - 4000000)
Change in net assets: (8)
(1660000)
working note: 6
changefrom business activitetis (13000000 -1190000)
1100000
transfers
4000000
(9)
5100000
Working note:7
total change in net assets
5100000
1660000
(10)
3440000
working note : 8
net assets beginning;
26530000
1660000
net assets ending
(11)
24870000
working note: 9
(10)
3440000
(11)
30530000
net assets ending total (12)
$33,970,000
Functions:
Expenses
Programme revenues
Net (Expenses) Revenues and changes in Net assets Primary Government
Charges for services
Operating grants and contributions
Capital grants
governmental activities
Business-type activities
total
General Government
$10,000,000
($10,000,000)
($10,000,000)
Public safety
1,8000,000
(18,000,000)
(18,000,000)
Education
3,4000,000
$12,000,000
(5)(22,000,000)
(22,000,000)
Transportation
24,000,000
$9,000,000
(6)(15,000,000)
(15,000,000)
Culture and recreation
1,500,000
(1,500,000)
(1,500,000)
Interest
3,000,000
(3,000,000)
(3,000,000)
total governmental activities
(1)90,500,000
$12,000,000
$9,000,000
(69,500,000)
(69,500,000)
Business type activities:
Water service
11,900,000
13,000,000
(7)1,100,000
1,100,000
total Business type activities
(2)11,900,000
13,000,000
1,100,000
1,100,000
total primary government (3)
$1,02,400,000
13,000,000
$12,000,000
$9,000,000
1,100,000
(4)68,400,000
General Revenues:
Property taxes, levied for general purposes
7,00,00,000
7,00,00,000
Unrestricted Grant revenues
3,00,000
3,00,000
special item, gain on sale of land($2,200,000-3,50,000)
18,50,000
18,50,000
Extraordinary loss- tornado damage
(3,10,000)
(3,10,000)
Transfers
(4,000,000)
4,000,000
Total general revenues, special items and transfers
67,840,000
4,000,000
7,18,40,000
Change in net assets
(8) (1,660,000)
(9)5,100,000
(10)3,440,000
Net assets - Beginning
26,530,000
4,000,000
30,530,000
Net assets - ending
(11)$24,870,000
$9,100,000
(12) $33,970,000
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