Option #1: State and Local Government Reporting The information below should be used to prepare...
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Accounting
Option #1: State and Local Government Reporting
The information below should be used to prepare 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
What observations can you make about the funds activity from June 1, 2017-May 31, 2018? This one I see that they have increased over time?
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? introductory, financial, and statistical? not sure
I have the first part figured out but am stuck on the 1-3 questions.
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