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) |
$25,705,000 |
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 |
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?
Paper Requirements:
- Submit your 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.
- For written answers, please make sure your responses are well written.
- Assignment should follow APA guidelines (Links to an external site.) with respect to use of subheadings, 1†margins, and double spaced.
- The required number of pages for the assignment does not include the title page and references page.
- References need to include your textbook plus two additional credible academic references. All sources used, including your textbook, must be referenced; paraphrased and quoted material must have accompanying citations and cited per APA guidelines.
- Include introduction and conclusion.
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