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The City of San Almos reports the following revenues for the fiscal year: Real E

ID: 2469004 • Letter: T

Question

The City of San Almos reports the following revenues for the fiscal year:

Real Estate And Personal Property Taxes

$38,164

Motor Vehicle And Other Excise Taxes

1,988

Grants And Contributions Not Restricted

1,956

The City also reports the following revenues from fees it charges for services and operating grants and contributions it has received during the year as well as expenses is has incurred, categorized by governmental activity:

Functions/Programs

Charges

for Services

Operating Grants

and Contributions

Expenses

Primary Government

Governmental Activities:

GENERAL GOVERNMENT

$  190

$  312

$  3,752

PUBLIC SAFETY

632

166

4,436

EDUCATION

588

2,974

31,106

PUBLIC WORKS

46

106

1,866

HUMAN SERVICES

458

74

1,084

LIBRARY

36

52

696

PENSION & BENEFITS

-

1,762

2,978

INTEREST

-

-

686

TOTAL GOVERNMENTAL ACTIVITIES

$1,950

$5,446

$46,604  

The City manages two Business-Type activities: a sanitation department which oversees solid and liquid waste disposal and a municipal pool.  Both of these activities charge users a fee that is set at the beginning of the year at a level that is anticipated to cover the costs of providing the service.  These fees cannot be changed during the year. As a result, these activities may produce a net profit or loss for the year, depending on the level of operating costs.  The revenues and expenses for these services are provided in the following table:

Functions/Programs

Charges

for Services

Expenses

Business-Type Activities:

SANITATION

$2,488

$1,834

MUNICIPAL POOL

282

400

$2,770

$2,234

Required:  Prepare the City of Los Almos Statement of Activities for the year (assume a beginning balance for Net Assets of $94,574 for Governmental activities and $19,144 for Business-Type activities).

Real Estate And Personal Property Taxes

$38,164

Motor Vehicle And Other Excise Taxes

1,988

Grants And Contributions Not Restricted

1,956

Explanation / Answer

City Of SAN ALMOS For the Year Ended 20XX Particulars                          Unrestricted Temprorly Restricted Permanently Restricted Total Revenues Real Estate and personal property Taxes 38164 38164 Moter Vehicle and other Excise Taxes 1988 1988 Grant and contribution not restricted 1956 1956 Fees from Government Activities 1950 1950 Operating Grants and Contributon 5446 5446 Sanitation 2488 2488 Municipal Pool 282 282 Total Revenues 49504 2770 0 52274 Expenses Government Activities 46604 46604 Sanitation 1834 1834 Municipal Pool 400 400 Total Expenses 46604 2234 0 48838 Change in Net Assets 2900 536 0 3436 Opening Balance of Net Assets 94574 19144 0 113718 0 Closing Net Assets 97474 19680 0 117154