Prepare a reconciliation of Net Change in Governmental Fund Balances (the General Fund, Capital Projects Funds,...

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Prepare a reconciliation of Net Change in Governmental FundBalances (the General Fund, Capital Projects Funds, Debt ServiceFund, Special Revenues Funds and Permanent Funds) to change inGovernmental Net Assets (the 5 funds just cited and the InternalServices Funds, which all reflect government activities.) [Aninternal service fund is a fund used in governmental accounting totrack goods or services shifted between departments on a costreimbursement basis. An example of an internal service fund is amaintenance department that provides equipment maintenance servicesto other departments.]
Reconciliation of Net Change in
Governmental Fund Balances to
Change in Governmental Net Assets
Governmental Fund Balances as of
December 31,2019:                                                                     $6,000,000 credit
Reconciling Items:
Increase in Deferred Revenue all related to
Property tax located on theBalance
Sheet of the General Fund:$400,000
Expenditures related to Capital Asset
Purchases. Occurred in the GeneralFund:
$10,000,000
Depreciation expenses on capital assets (never
taken by the 5 governmentalfunds):
$2,000,000
Proceeds sent to the Capital Projects Fund from
the issuance of general long-termcapital debt
(long-term debt is not reflected inthe
General Fund):$5,000,000
Expenditures paid through the Debt Service
Fund to pay principal on capitalrelated debt:
$200,000
Increase in liability for compensated absences
not accrued in any of the 5governmental
Funds:$60,000

Internal Service Fund Net Assets
As of December 31, 2019:
$100,000
Statement of Net Assets –
           Governmental Activities as of
December 31, 2019:

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Reconciliation of Net Change in Governmental Fund Balances to Change in Governmental Net Assets Governmental Fund Balances as of December 31 2019 6000000 credit Reconciling Items Increase in Deferred See Answer

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Prepare a reconciliation of Net Change in Governmental FundBalances (the General Fund, Capital Projects Funds, Debt ServiceFund, Special Revenues Funds and Permanent Funds) to change inGovernmental Net Assets (the 5 funds just cited and the InternalServices Funds, which all reflect government activities.) [Aninternal service fund is a fund used in governmental accounting totrack goods or services shifted between departments on a costreimbursement basis. An example of an internal service fund is amaintenance department that provides equipment maintenance servicesto other departments.]Reconciliation of Net Change inGovernmental Fund Balances toChange in Governmental Net AssetsGovernmental Fund Balances as ofDecember 31,2019: $6,000,000 creditReconciling Items:Increase in Deferred Revenue all related toProperty tax located on theBalanceSheet of the General Fund:$400,000 ______________Expenditures related to Capital AssetPurchases. Occurred in the GeneralFund:$10,000,000 ______________Depreciation expenses on capital assets (nevertaken by the 5 governmentalfunds):$2,000,000 ______________Proceeds sent to the Capital Projects Fund fromthe issuance of general long-termcapital debt(long-term debt is not reflected intheGeneral Fund):$5,000,000 ______________Expenditures paid through the Debt ServiceFund to pay principal on capitalrelated debt:$200,000 ______________Increase in liability for compensated absencesnot accrued in any of the 5governmentalFunds:$60,000 ______________ Internal Service Fund Net AssetsAs of December 31, 2019:$100,000 ______________Statement of Net Assets – Governmental Activities as ofDecember 31, 2019: ______________