Refer to the 2010 financial statements of the City of St. Louis, appearing in Exhibits 12.1 through 12.12.
Required
a. The statement of net position (assets) (Exhibit 12.1) and the statement of activities (Exhibit 12.2) divide financial information into governmental and business-type activities. The activities of which fund(s) are included in each category?
b. Compare the statement of net position (assets) (Exhibit 12.1) with the balance sheet for governmental funds (Exhibit 12.3). Explain the major differences in assets and liabilities reported.
c. Compare the statement of activities (Exhibit 12.2) and the statement of revenues, expenditures, and changes in fund balances for governmental funds (Exhibit 12.4).
1. Explain differences in the categorization of revenues on each statement.
2. The statement of revenues, expenditures, and changes in fund balances lists two expenditures that do not appear as expenses of governmental activities on the statement of activities. Identify the two items, and explain why they are not reported on the statement of activities.
3. The statement ©f revenues, expenditures, and changes in fund balances reports several items as "other financing sources (uses)." Where is each of the items reported on the government-wide financial statements?
4. The statement of activities lists streets expenses at $66,263,000, while the statement of revenues, expenditures, and changes in fund balances lists streets expenditures at $37,356,000. Why are these two numbers different?
d. Where are the amounts reported in the proprietary fund statement of revenues, expenses, and changes in fund net position (assets) (Exhibit 12.8) shown in the statement of activities?
e. Where are the amounts reported in the statement of fiduciary net position (assets) (Exhibit 12.10) shown in the government-wide financial statements?