Unformatted text preview: REST 12,000 OFU—INTERFUND TRANSFER IN 102,000 (To record receipt of resources and debt service requirements)
4. General Fund:
ENCUMBRANCES 11,300 RESERVE FOR ENCUMBRANCES 5. 11,300 General Fund:
REVENUES 220,000 TAX ANTICIPATION NOTE PAYABLE 100,000 DONATED LAND 120,000 (To properly record the note liability and remove the capital asset) 9-6. 1.
a. 9-12 Chapter 09 - Financial Reporting of State and Local Governments Ch. 9, Solutions (Cont'd) 9-7.
TOWN OF LEESBURG
Reconciliation of the Statement of Revenues, Expenditures, and Changes
in Fund Balances—Governmental Funds to the Statement of Activities
for the Year Ended June 30, 2011 Net change in fund balances – governmental funds $ 131,700 Amounts reported for governmental activities in the statement
of activities are different because:
Governmental funds report capital outlays as expenditures.
However, in the statement of activities the cost of those assets
is allocated over their estimated useful lives as depreciation...
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