Governmental and Institutional Accounting

Requirement 4-e 5,180,674 $ 73,111 5,107,563 $ City of Smithville Reconciliation of Total Expenditures to Total Expenditures and Encumbrances General Fund Expenditures for 2014, GAAP basis For the Year Ended December 31, 2014 Expenditures for 2014, budgetary basis Less: Encumbrances Outstanding as of December 31, 2014 Accoun t Debits Credits Cash $169,895 Investments 200,000 Accrued Sales Taxes Receivable 40,000 Interest Receivable on Investments 500 Fund Balance—Restricted $410,395 Encumbrances Outstanding—Spruce Street Project 1,500,000 Encumbrances—Spruce Street Project 1,500,000 Totals for all accounts $1,910,395 $1,910,395 City of Smithville Street Improvement Fund Post-Closing Trial Balance For year 2014 Requirement 5-c Assets Cash 169,895 $ Investments 200,000 Accrued sales taxes receivable 40,000 Interest receivable on investments 500 Total Assets 410,395 $ Liabilities and Fund Balances Liabilities: - Fund Balances: Restricted 410,395 $ Total Liabilities and Fund Balances 410,395 $ City of Smithville Street Improvement Fund Balance Sheet As of December 31, 2014 Accoun t Debits Credits Cash $169,895 Investments 200,000 Accrued Sales Taxes Receivable 40,000 Interest Receivable on Investments 500 Encumbrances Outstanding—Spruce Street Project $1,500,000 Revenues—Sales Taxes 455,000 Revenues—Investment Earnings 15,500 Other Financing Sources—Proceeds of Bonds 2,000,000 Construction Expenditures—Elm Street Project 2,029,300 Construction Expenditures—Spruce Street Project 30,340 Interest Expenditures 465 Encumbrances—Spruce Street Project 1,500,000 Totals for all accounts $3,970,500 $3,970,500 City of Smithville Street Improvement Fund Pre-Closing Trial Balance For year 2014 Requirement 5-d Revenues Sales taxes 455,000 $ Interest on short-term investments 15,500 Total Revenues 470,500 Expenditures Construction expenditures—Elm Street Project 2,029,300 $ Construction expenditures—Spruce Street Project 30,340 Interest expenditures 465 Total Expenditures 2,060,105 Excess of Expenditures Over Revenues (1,589,605) Other Financing Sources Proceeds of bonds 2,000,000 Increase in Fund Balances 410,395 Fund Balances, January 1 - Fund Balances, December 31 410,395 $ City of Smithville Street Improvement Fund Statement of Revenues, Expenditures and Changes in Fund Balance For the Year Ended December 31, 2014

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