Required: From the information given above, prepare a Water and Sewer Fund column for the proprietary fund Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31, 2024. Note: Negative entries should be entered with a minus sign and will appear in parenthesis.
Required: From the information given above, prepare a Water and Sewer Fund column for the proprietary fund Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31, 2024. Note: Negative entries should be entered with a minus sign and will appear in parenthesis.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:CITY OF WESTERN SANDS
Statement of Revenues, Expenses, and Changes in Fund Net Position
Water and Sewer Fund
For the Year Ended December 31, 2024
Operating Revenues:
Toal Operating Revenue
Operating Expenses:
Total Operating Expenses
Operating Income (Loss)
Noncapital Subsidies
Total Noncapital Subsidies
Operating Income (Loss) and Noncapital Subsidies
Other Nonoperating Revenues (Expenses)
Total Other Nonoperating Revenue (Expense)
Change in Net Position
Net Position, Beginning of Year
Net Position, End of Year
Transcribed Image Text:The following water and sewer fund information is available for the preparation of the financial
statements for the City of Western Sands for the year ended December 31, 2024:
Operating revenues-charges for services
Operating expenses:
Personnel services
Contractual services
Utilities
Repairs and maintenance
Depreciation
Interest revenue
State aid (intergovernmental revenue)
Interest expense
Capital contributions
Transfer to General Fund (noncapital)
Net position, January 1, 2024
$18,116,000
6,203,000
3,008,000
899,000
2,003,000
5,434,000
42,000
112,000
441,000
1,644,000
375,000
2,712,000
Required:
From the information given above, prepare a Water and Sewer Fund column for the proprietary fund
Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31,
2024.
Note: Negative entries should be entered with a minus sign and will appear in parenthesis.
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