Chapter 10 pp - Enterprise Funds & Internal Service...

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Enterprise Funds & Internal Service Funds Chapters 10 & 11
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Common Examples of EFs Electric Utilities Gas Utilities Sanitary Sewer Operations Garbage and other waste collection & disposal services Off-street Parking Lots and Garages Solid Waste Landfills Airports Business-like activities, Major customer is not primary government
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When Use of Enterprise Fund Is Required Activity is financed with debt that is secured solely by a pledge of the net revenues from fees and charges of the activity Laws or regulations require that the activity’s costs of providing services, including capital costs (such as depreciation or debt service), be recovered with fees and charges Pricing policies of the activity establish fees and charges designed to recover its
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Accounting Equation Other Noncurrent Assets Net Assets Current Assets Capital Assets + + Current Liabilities Long-Term Liabilities + + Traditional Balance Sheet Equation Net Assets Current Assets Other Noncurrent Assets Capital Assets + + Current Liabilities Long-Term Liabilities + New Net Asset Equation OR
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Financial Statements Statement of Fund Net Assets (or Balance Sheet) Statement of Revenues, Expenses, and Changes in Fund Net Assets (or Fund Equity) Statement of Cash Flows Look at each of these in the handouts.
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Chapter 10 pp - Enterprise Funds & Internal Service...

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