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State and Local Government Reporting

Prepare in form in Excel.

Use information below to a Public Transportation column for the proprietary fund Statement of Revenues, Expenses, and Changes in Fund Net Position for the fiscal year ending May 31, 2018.

Operating Revenue (Services)

$25,705,000

Interest Revenue

$36,000

Intergovernmental Revenue

$140,000

Capital Contributions

$1,200,000

Operating Expenses:

Employee Wages

$8,654,000

Temporary Labor

$750,000

Repairs and Maintenance

$6,425,000

Depreciation

$4,532,000

Utilities

$948,000

Interest Expense

$475,000

Transfer to General Fund

$315,000

Net position, June 1, 2017

$3,820,000

Answer the following questions in MS Word:

What observations can you make about the fund’s activity from June 1, 2017-May 31, 2018?

Identify the other proprietary fund statements and what measurement focus and basis for accounting are used in those statements.

What reports and schedules are included in the CAFR as required supplementary information?

Paper Requirements:

Submit responses to the questions in a 3-4-page document in MS Word/MS Excel as indicated. Label each question clearly. For computations, please include them in a table. Use APA format. Use three credible academic references.

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Explanation & Answer

Your Assignment is complete

Public Transportation column for
Revenue
Operating Revenue (Services)
Intergovernmental Revenue
Expenses
Employee Wages
Repairs and Maintenance
Capital Contributions
Operating Expenses
Temporary Labor
Depreciation
Utilities
Non-Operating Revenues and Expenses
Interest Revenue
Interest Expense
Other
Transfer to General Fund
Net position, June 1, 2017

Amount
$25,705,000
$140,000

$8,654,000
$6,425,000
$1,200,000
$750,000
$4,532,000
$948,000

$36,000
$475,000

$315,000
$3,820,000

Public Transportation column for the proprietary fund Statement of Revenues, Expenses, and Changes in Fund Net Position fo
Revenue:
Operating Revenue (Services)
$25,705,000
Intergovernmental Revenue
$140,000
Total Revenue
$25,845,000
Expenses:
Employee Wages
$8,654,000
Repairs and Maintenance
$6,425,000
Capital Contributions
$1,200,000
Operating Expenses
Temporary Labor
$750,000
Depreciation
$4,532,000
Utilities
$948,000
Total Expense
$22,984,000
Excess of Revenue over Expense (Profit)
$2,861,000
Non-Operating Revenues and Expenses
Interest Revenue
$36,000
Interest Expense
$475,000
Income before transfers
$2,422,000
Other:
Transfer to General Fund
$315,000
Net position, June 1, 2017
$3,820,000
Change in Fund net position
$2,107,000
Net Position, May 31, 2018
$5,927,000

s in Fund Net Position for the fiscal year ending May 31, 2018.


Running head: STATE AND LOCAL GOVERNMENT REPORTING
State and Local Government Reporting Outline
I.
II.
III.

IV.
V.

Fund Net Position
Observations about fund activity from June 1, 2017 to May 31, 2018
Proprietary Fund State...


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