The government-wide financial statements for the City of Arborland for a three-year period are presented on the
Question:
The government-wide financial statements for the City of Arborland for a three-year period are presented on the following pages.
Additional information follows:
Population:
Year 2017: 30,420,
Year 2016: 28,291,
Year 2015: 26,374.
Debt limit remained at $20,000,000 for each of the three years. Net cash from operations is generally 80 percent of total revenues each year.
Required
a. Which of the financial performance measures in Illustration 10?4 can be calculated for the City of Arborland based on the information that is provided? b. Calculate those ratios identified in part a for FY 2017. Show your computations. c. Provide an overall assessment of the City of Arborland's financial condition using all the information provided, both financial and nonfinancial. Use information from the prior years to form your assessment.
As sets Current assets: Cash Investments Receivables (net) Prepaid expenses Inventories Total current assets Captal assets: Land Depreciable assets Accumulated depreciation Total capital assets (not) Total assets Liabilities Accounts payable Deferred revenue Other, current Total current labilities Bonds payable Total liabilities Net Position Net investment in capital assets Restricted for: Capital projects Debt service Unrestricted (deficit) Total netposition Governmental Activities $ 5,540 733 2,747 253 26 9,299 2,180 37,600 (15,099) 24,74 1 34,040 1,580 32 1,754 3,366 15.900 19,266 9,104 140 99 3 4,597 $14,774 2017 Business- type Activities $ 1,800 291 1,809 8 58 3,966 2,101 14,455 (5,782) 10774 14,740 467 200 667 6500 7,167 4,027 I CITY OF ARB ORLAND Statements of Net Position As of December 31 (In Thousands) Total $ 7,340 1,024 4,556 261 84 13,265 4,281 52,055 (20,821) 35,515 48,780 2,047 32 1,954 4,033 22,400 13,131 140 933 3,546 8,143 $7,573 $22,347 Governmental Activities $4,531 638 2,947 251 101 8,468 2,070 37,183 (16,732) 22,521 30,989 412 30 1,443 1,885 16,900 18,785 7,945 151 1,093 3,075 $12,204 2016 Business- type Activities $1,663 181 1,608 6 48 3,506 1,804 17,775 (9,776) 9803 13,309 376 190 566 7,500 8066 3,065 I 2,178 $5,243 Total $ 6,194 819 4,555 257 149 11,974 3,874 54,958 (26,508) 32,324 44,298 788 30 1,633 2,451 24,400 26,851 11,010 151 1,093 5,253 $17,447 Governmental Activities $3,452 769 1,865 171 167 6,424 1,971 39,347 (19,680) 21,638 28,062 1,633 42 1,489 3,164 15,900 19,064 5,366 130 818 2,683 $8,997 2015 Business- type Activities $1,487 179 1,472 5 49 3,192 1,604 14,801 (7,402) 9,003 12,195 295 170 465 6,500 6,965 2,067 I 3,163 $ 5,230 Total $ 4,999 948 3,337 176 216 9,616 3,575 54,148 (27,082) 30,641 40,257 1,928 42 1,659 3,629 22,400 26,029 7,433 130 818 5,846 $14,227 Functions/Programs Govemmental Activities: General goverment Judicial Public safety Health and sanitation Culture and recreation Road maintenance Interest on long term debt Total governmental activities Business-type activities Total government Expenses $ 5,716 1,926 7,958 2,804 2,166 2,455 948 23,973 2,895 $26,868 CITY OF ARBORLAND Statement of Activities For the Year Ended December 31, 2017 (in thousands) Charges for Services $ 531 716 1,530 524 554 5 3,860 5,218 $9,078 Program Reve nu es Operating Grants and Contributions S Change in net position Net position January 1 Net position December 31 99 Investment eamings Special item-gain on sale of land Total general revenues and special items 168 1,619 1,886 $1,886 General Revenues: Property taxes Grants and contributions not restricted to specific programs Capital Grants and Contributions $495 495 7 $502 Net (Expense) Revenue and Changes in Net Position Governmental Business-type Activities Activities $(5,185) (1,111) (6,260) (2,280) (1,117) (831) (948) (17,732) (17,732) 17,296 2,190 716 100 20,302 2,570 12,204 $14,774 $2,330 2,330 2,330 5,243 $7,573 Total $(5,185) (1,111) (6,260) (2,280) (1,117) (831) (948) (17,732) 2,330 (15,402 17,296 2,190 716 100 20,302 4,900 17,447 $22,347 Functions/Programs Governmental Activities: General goverment Judicial Public safety Health and sanitation Culture and recreation Road maintenance Interest on long-term debt Total governmental activites Business-type activites Total government Expenses $4,133 1,737 5,239 2,129 3,762 1,055 804 18,859 4,287 $23,146 CITY OF ARBORLAND Statement of Activities For the Year Ended December 31, 2016 (in thousands) Charges for Services $ 148 209 1,943 147 322 2,769 4,290 $7,059 Program Revenues Operating Grants and Contributions $17 30 Speda item-gain on sale of land Total general revenues and spedd items Change in net position Net poston January 1 Net poston December 31 548 $548 General Revenues: Property taxes Grants and contributions not restricted to specific programs Investment eamings Capital Grants and Governmental Business type Contributions Activities Activities ||| $350 Net (Expense) Revenue and Changes in Net Position 350 10 $360 $ (3,985) (1,511) (3,266) (1,982) (3,090) (804) (15,192) (15,192) 13,619 3,664 916 200 18,399 3,207 8,997 $12,204 199 5,230 $5,243 Total $ (3,985) (1,511) (3,266) (1,982) (3,090) (554) (804) (15,192) 13 (15,179) 13,619 3,664 916 200 18,399 3,220 14,227 $17,447 Functions/Programs Govemmental Activities: General goverment Judicial Public safety Health and sanitation Culture and recreation Road maintenance Interest on long term debt Total governmental activities Business-type activities Total government Expenses $ 3,922 1,601 4,113 2,096 3,484 1,438 948 17,602 2,637 $20,239 CITY OF ARBORLAND Statement of Activities For the Year Ended December 31, 2015 (in thousands) Charges for Services $ 109 198 1,723 216 364 2,610 3,708 $6,318 Program Reve nu es Operating Grants and Contributions 57 10 460 523 $527 Capital Grants and Contributions General Revenues: Property taxes Grants and contributions not restricted to specific programs Investment eamings Special item-gain on sale of land Total general revenues and special items Change in net position Net position January 1 Net position December 31 $320 320 20 $340 Net (Expense) Revenue and Changes in Net Position Governmental Business-type Activities Activities $ (3,813) (1,346) (2,380) (1,880) (2,800) (978) (948) (14,145) $(14,145) 13,100 2,990 681 150 16,92 1 2,776 6,221 $8,997 |||||| $1,091 1,091 1,091 4,139 $5,230 Total $ (3,813) (1,346) (2,380) (1,880) (2,800) (978) (948) (14,145) 1,091 (13,054) 13,100 2,990 681 150 16,921 3,867 10,360 $14,227 As sets Current assets: Cash Investments Receivables (net) Prepaid expenses Inventories Total current assets Captal assets: Land Depreciable assets Accumulated depreciation Total capital assets (not) Total assets Liabilities Accounts payable Deferred revenue Other, current Total current labilities Bonds payable Total liabilities Net Position Net investment in capital assets Restricted for: Capital projects Debt service Unrestricted (deficit) Total netposition Governmental Activities $ 5,540 733 2,747 253 26 9,299 2,180 37,600 (15,099) 24,74 1 34,040 1,580 32 1,754 3,366 15.900 19,266 9,104 140 99 3 4,597 $14,774 2017 Business- type Activities $ 1,800 291 1,809 8 58 3,966 2,101 14,455 (5,782) 10774 14,740 467 200 667 6500 7,167 4,027 I CITY OF ARB ORLAND Statements of Net Position As of December 31 (In Thousands) Total $ 7,340 1,024 4,556 261 84 13,265 4,281 52,055 (20,821) 35,515 48,780 2,047 32 1,954 4,033 22,400 13,131 140 933 3,546 8,143 $7,573 $22,347 Governmental Activities $4,531 638 2,947 251 101 8,468 2,070 37,183 (16,732) 22,521 30,989 412 30 1,443 1,885 16,900 18,785 7,945 151 1,093 3,075 $12,204 2016 Business- type Activities $1,663 181 1,608 6 48 3,506 1,804 17,775 (9,776) 9803 13,309 376 190 566 7,500 8066 3,065 I 2,178 $5,243 Total $ 6,194 819 4,555 257 149 11,974 3,874 54,958 (26,508) 32,324 44,298 788 30 1,633 2,451 24,400 26,851 11,010 151 1,093 5,253 $17,447 Governmental Activities $3,452 769 1,865 171 167 6,424 1,971 39,347 (19,680) 21,638 28,062 1,633 42 1,489 3,164 15,900 19,064 5,366 130 818 2,683 $8,997 2015 Business- type Activities $1,487 179 1,472 5 49 3,192 1,604 14,801 (7,402) 9,003 12,195 295 170 465 6,500 6,965 2,067 I 3,163 $ 5,230 Total $ 4,999 948 3,337 176 216 9,616 3,575 54,148 (27,082) 30,641 40,257 1,928 42 1,659 3,629 22,400 26,029 7,433 130 818 5,846 $14,227 Functions/Programs Govemmental Activities: General goverment Judicial Public safety Health and sanitation Culture and recreation Road maintenance Interest on long term debt Total governmental activities Business-type activities Total government Expenses $ 5,716 1,926 7,958 2,804 2,166 2,455 948 23,973 2,895 $26,868 CITY OF ARBORLAND Statement of Activities For the Year Ended December 31, 2017 (in thousands) Charges for Services $ 531 716 1,530 524 554 5 3,860 5,218 $9,078 Program Reve nu es Operating Grants and Contributions S Change in net position Net position January 1 Net position December 31 99 Investment eamings Special item-gain on sale of land Total general revenues and special items 168 1,619 1,886 $1,886 General Revenues: Property taxes Grants and contributions not restricted to specific programs Capital Grants and Contributions $495 495 7 $502 Net (Expense) Revenue and Changes in Net Position Governmental Business-type Activities Activities $(5,185) (1,111) (6,260) (2,280) (1,117) (831) (948) (17,732) (17,732) 17,296 2,190 716 100 20,302 2,570 12,204 $14,774 $2,330 2,330 2,330 5,243 $7,573 Total $(5,185) (1,111) (6,260) (2,280) (1,117) (831) (948) (17,732) 2,330 (15,402 17,296 2,190 716 100 20,302 4,900 17,447 $22,347 Functions/Programs Governmental Activities: General goverment Judicial Public safety Health and sanitation Culture and recreation Road maintenance Interest on long-term debt Total governmental activites Business-type activites Total government Expenses $4,133 1,737 5,239 2,129 3,762 1,055 804 18,859 4,287 $23,146 CITY OF ARBORLAND Statement of Activities For the Year Ended December 31, 2016 (in thousands) Charges for Services $ 148 209 1,943 147 322 2,769 4,290 $7,059 Program Revenues Operating Grants and Contributions $17 30 Speda item-gain on sale of land Total general revenues and spedd items Change in net position Net poston January 1 Net poston December 31 548 $548 General Revenues: Property taxes Grants and contributions not restricted to specific programs Investment eamings Capital Grants and Governmental Business type Contributions Activities Activities ||| $350 Net (Expense) Revenue and Changes in Net Position 350 10 $360 $ (3,985) (1,511) (3,266) (1,982) (3,090) (804) (15,192) (15,192) 13,619 3,664 916 200 18,399 3,207 8,997 $12,204 199 5,230 $5,243 Total $ (3,985) (1,511) (3,266) (1,982) (3,090) (554) (804) (15,192) 13 (15,179) 13,619 3,664 916 200 18,399 3,220 14,227 $17,447 Functions/Programs Govemmental Activities: General goverment Judicial Public safety Health and sanitation Culture and recreation Road maintenance Interest on long term debt Total governmental activities Business-type activities Total government Expenses $ 3,922 1,601 4,113 2,096 3,484 1,438 948 17,602 2,637 $20,239 CITY OF ARBORLAND Statement of Activities For the Year Ended December 31, 2015 (in thousands) Charges for Services $ 109 198 1,723 216 364 2,610 3,708 $6,318 Program Reve nu es Operating Grants and Contributions 57 10 460 523 $527 Capital Grants and Contributions General Revenues: Property taxes Grants and contributions not restricted to specific programs Investment eamings Special item-gain on sale of land Total general revenues and special items Change in net position Net position January 1 Net position December 31 $320 320 20 $340 Net (Expense) Revenue and Changes in Net Position Governmental Business-type Activities Activities $ (3,813) (1,346) (2,380) (1,880) (2,800) (978) (948) (14,145) $(14,145) 13,100 2,990 681 150 16,92 1 2,776 6,221 $8,997 |||||| $1,091 1,091 1,091 4,139 $5,230 Total $ (3,813) (1,346) (2,380) (1,880) (2,800) (978) (948) (14,145) 1,091 (13,054) 13,100 2,990 681 150 16,921 3,867 10,360 $14,227
Expert Answer:
a The performance measures shown in Illustration 104 use data from the basic financial statements which includes the governmentwide financial statemen... View the full answer
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
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