The following alphabetic listing displays selected balances in the governmental

Question

The following alphabetic listing displays selected balances in the governmental activities accounts of Westover Village as of June 30, 2017. Assume that beginning net position is $1,753 (in thousands) and that there were no changes in net position during the year other than those reflected in the selected account balances shown. For simplicity, assume that the village does not have business-type activities or component units.

The following alphabetic listing displays selected balances in the governmental activities accounts of Westover Village as of June 30, 2017. Assume that beginning net position is $1,753 (in thousands) and that there were no changes in net position during the year other than those reflected in the selected account balances shown. For simplicity, assume that the village does not have business-type activities or component units.

Explanation / Answer

Westover Village Statement Of activities (Partial) For the year ended June 30, 2017 (In thousands) Program Revenue Net (Expense) Revenue and Changes in Net Assets Functions/Programs Expenses Charges for services Operating grants Capital Grants Primary Government A B C D (B+C+D) - A General Government $         9,681 $           3,256 $        953 $   -   $        -5,472 Public safety $       34,954 $           1,308 $    1,417 $ 73 $      -32,156 Health and Sanitation $         6,958 $           5,722 $           -   $   -   $        -1,236 Culture and recreation $       12,462 $           4,105 $    2,560 $   -   $        -5,797 Interest on long-term debt $         6,178 $                  -   $           -   $   -   $        -6,178 Total governmental activities (1) $      -50,839 General Revenues Property Taxes $       56,410 Unrestricted grants and contributions $          1,310 Investment Earnings $          2,068 Total general revenues $       59,788 Special Item-gain on sale of Park Land $          3,583 Total general revenues and Special Items (2) $       63,371 Change in Net Position (1) + (2) $       12,532 Net Position-July 1, 2016 $          1,753 Net Position-June 30, 2017 $       14,285

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