Financial Statements Circus City issued an 8%, 10-year $2,000,000 bond to build a monorail mass transit system. The city received $1,754,217 cash from the bond issuance on January 1, 2012. The bond yield is 10%. Interest is paid annually on December 31 of each year. Disclosure information about capital assets is reported below.

Depreciation expense charged to governmental activities as follows:
Public Safety............. $ 55,000
General Government.......... 72,000
Highways and Streets......... 25,000
Sanitation............. 17,000
................... $169,000
Circus City€™s governmental funds financial statements are as follows:

Required:
Using the information above, prepare the statement of activities and the statement of net assets on a government-wide basis (using full accrual accounting). The beginning fund balance in the government-wide Statement of Net Assets is$2,686,283.

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Disclosure of Information about Capital Assets for the Year Ending December 31, 2012 Primary Government Beginning Balance Ending Balance Gouernmental Activities Additions Retirements Land Building Machinery and Equipment Gonstruction in Progress Infrastructure 500,000 760,000 $(225,000) 725,000 1,500,000 450,000 $2,660,000 $1500,000 $(225,000) $3,935,000 500,000 760,000 950,000 $1,500,000 450,000 Totals at historical cost Less accumulated depreciation Building Machinery and Equipment (59,150) (76,050) 50,000) (33,800) (190,000) (235,000) (249,150) 140,000 171,050) (83,800) Infrastructure Total accumulated depreciation $(475.000) S(169000) $140.000 5604.000) Governmental activities capital assets, net $2,185,000 $1,331,000 (85,000) $3,431,000 Circus City Governmental Funds Fund Balance Sheets at December 31, 2012 Capital Projects Fund Debt Service Fund Total Governmental Funds General Fund Monorail Fund Term Bond Fund Assets Cash Interest Receivable Investments Property Tax Receivable 64,000 300,000 12,000 1,250,500 364,000 16,000 1,450,500 183,000 $2.013,500 4,000 100,000 100,000 183,000 $347,000 Total Assets $1,562,500 104,000 Lialilities and Fund Balance Vouchers Payable Fund Balances: 73,000 $50,000 50.000 123,000 123,000 Total Liabilities 73,000 83,000 312,500 1,200,000 395,500 1,391,000 104,000 1,890,500 Unreserved Reserved for Encumbrances 191,000 274,000 $347,000 Debt Service Total Fund Balance 104,000 ,512,500 104,000 Total Liabilities and Fund Balances 1,562,500 $104,000 $2,013,500 Circus City Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances for the Year Ended December 31, 2012 Caxpital Projects Fund Deht Sertnce Fund Tota Gvernmental Funds General Fund Monorai Fund Term Bond Property Taxes Licenses and Permits* State Grant-highways and 525,000 150,000 50,000 575,000 150,000 250,000 1,000,000 250,000 streets Intergovernmental state g Charges for Services (general $1,000,000 government) Investment Earnings 180,000 75,000 $1 , I 30.000 130,000 75,000 $2,180,000 Total Revenue 1,000,000 50,000 Public Safety General Government Highways and Streets Sanitation Debt Service $ 500,000 300,000 130,000 70,000 500,000 800,000 130,000 70,000 $160,000 $160,000 (500,000) (110,000) 160,000 1,500,000 2,660,000 Interest Capital Outlay Excess (deficiency) olf Other Financing Sources (Uses) $1,500,000 $1,500,000 Total Expenditures $1,000,000 revenues over expenditures $ 130,000 8(480,000) Proceeds from long-term $1,754,217 160,000 160,000) capital debt $1,754,217 Transfers in $160,000 (160,000) (160,000) Transfers out Total other 754,217 $160,000 Proceeds from sales of 15,000 1,389,217 115,000 equipment Net change in fund balance Fund balance-beginning Fund balance-ending 85,000 4217 50,000 54000 104,000 189,000 1890,500