Governmental Accounting

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A.
1.) Estimated bond proceeds8,500,000
Estimated revenue-grant1,000,000
Estimated revenue-interest200,000
Appropriations- Capital Projects10,000,000
Appropriations- Cost of Bonds180,000

2.) Cash8,620,000
Issue costs180,000
Other financing sources-bond proceeds(face value)8,500,000
Other financing sources-bond proceeds(bond premium)300,000

3.) Cash1,000,000
Deferred Revenue1,000,000

4.) Investment in securities 7,620,000
Cash7,620,000

5.) Encumbrances9,200,000
Reserve for Encumbrances9,200,000

6.) Cash5,140,000
Investments5,000,000
Interest Revenue140,000

Interest Receivable60,000
Interest Revenue60,000

7.) Construction expenses5,700,000
Cash5,300,000
Accounts Payable400,000

Reserve for Encumbrances 5,700,000
Encumbrances5,700,000

8.) Transfer-out to Debt Service Fund120,000
Cash120,000

9.) No entry?

B.

Capital Projects Fund
Statement of Revenues, Expenditures, and Changes
For Year ended Dec. 31, 2012
Revenues
Grant Revenue1,000,000
Interest140,000
Total Revenue1,140,000

Expenditures
Issue Costs180,000
Construction Expenses5,700,000
Total Expenditures5,880,000

(4,740,000)

Other Financing Sources
Proceeds of Bonds8,500,000
Transfer out to debt service fund(120,000)
Total Other financing sources8,380,000

Excess of Revenues and Other
financing sources over expenditures
and other financing uses$3,640,000

C.
Capital Projects Fund
Balance Sheet
As of Dec. 31, 2012

Assets
Cash1,720,000
Investments2,620,000
Total Assets4,340,000

Liabilities
Accounts Payable400,000

Fund Balance
Reserve for encumbrances3,500,000
Unassigned440,000

D.
No, it would be reported on the government-wide statements.
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