Reference no: EM133157944
Question - The following information for the Town of Robinson Water and Sewer Enterprise Fund for the year ended June 30, 2026 is provided:
Increase in fair value of investments 12,000
Charges for sewer services rendered 2,000,000
Salaries and wages 400,000
Depreciation on capital assets contributed by developers 75,000
Operating grants received 250,000
Interest on bonds payable 95,000
Transfer from Special Revenue Fund 500,000
Deferred interest expense adjustment (debit), beginning of year 100,000
Repayment of short-term note payable 75,000
Interest on short-term note payable 5,000
Capital grants received (all grant conditions met) 1,500,000
Charges for water services rendered 1,800,000
Transfer to General Fund 127,000
Gain on sale of equipment 13,000
Depreciation on other capital assets 80,000
Depreciation on infrastructure capital assets 100,000
Contractual services (purchased) 2,600,000
Proceeds of bond issuance 13,000,000
Interest income 50,000
Net position 22,000,000
Water and sewer service claims and judgments paid during the year totaled $100,000. The liability (half of which is long-term) for these claims and judgments increased by $10,000 during the year. The refunded bonds have a 5-year remaining term, and the term of the new bonds is 10 years.
Required - Prepare the Statement of Revenues, Expenditures, and Changes in Fund Net Position for the Town of Robinson Wate and Sewer Enterprise Fund for the year ended June 30, 2026.