critical thinking
Business Finance
State and Local Government Reporting
Prepare in form in Excel.
Use information below to 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) |
$25,705,000 |
|
Interest Revenue |
$36,000 |
|
Intergovernmental Revenue |
$140,000 |
|
Capital Contributions |
$1,200,000 |
|
Operating Expenses: |
|
|
Employee Wages |
$8,654,000 |
|
Temporary Labor |
$750,000 |
|
Repairs and Maintenance |
$6,425,000 |
|
Depreciation |
$4,532,000 |
|
Utilities |
$948,000 |
|
Interest Expense |
$475,000 |
|
Transfer to General Fund |
$315,000 |
|
Net position, June 1, 2017 |
$3,820,000 |
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?
Paper Requirements:
Submit responses to the questions in a 3-4-page document in MS Word/MS Excel as indicated. Label each question clearly. For computations, please include them in a table. Use APA format. Use three credible academic references.
