ACT 410 State and Local Government Reporting Analysis

Description

Option #1: State and Local Government Reporting

The information below should be used to prepare (in proper form in Excel) a Public Transportation column for the proprietary fund Statement of Revenues, Expenses, and Changes in Fund Net Position for the fiscal year ending May 31, 2018.

Operating Revenue (Services)$25,705,000Interest Revenue$36,000Intergovernmental Revenue$140,000Capital Contributions$1,200,000Operating Expenses:Employee Wages$8,654,000Temporary Labor$750,000Repairs and Maintenance$6,425,000Depreciation$4,532,000Utilities$948,000Interest Expense$475,000Transfer to General Fund$315,000Net position, June 1, 2017$3,820,000

Please also answer the following questions in MS Word:

What observations can you make about the fund’s activity from June 1, 2017-May 31, 2018?

Identify the other proprietary fund statements and what measurement focus and basis for accounting are used in those statements.

What reports and schedules are included in the CAFR as required supplementary information?

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