Near the end of its scal year a school district issues $80 million of bonds to construct

Near the end of its fiscal year a school district issues $80 million of bonds to construct a new high school. By year-end the district has received the proceeds of the bonds and invested them in short-term securities. It has not yet incurred any construction costs. In which component of net position should the district include both the assets and the debt on its government-wide statement of net position? For example, should the cash and the related debt be included in ‘‘net investment in capital assets’’ or should the cash be reported along with other cash and the debt excluded from the computation of ‘‘invested in capital assets’’?