Description
Create a Financial Statements based on the instructions in the PDF and the numbers provide in the excell
Unformatted Attachment Preview
City of Smithville – Notes to Financial Statements
Note 1 – Summary of Significant Accoun ng Policies
o 1-B. Measurement Focus, Basis of Accoun ng, Basis of Presenta on
Government-wide Financial Statements
Fund Financial Statements
Major Governmental Funds
Major Proprietary Funds
Internal Service Fund
Fiduciary Funds
Proprietary Funds Opera ng vs. Nonopera ng Items
Grants from Government Agencies
Interfund Ac vity
Use of Es mates
o 1-C. Assets, Deferred Ou lows of Resources, Liabili es, Deferred Inflows of Resources,
and
Net Posi on or Fund Balance
Cash, Cash Equivalents and Investments
Accounts Receivable
Due to/from Other Funds
Due from Other Governments
Inventories and Prepaids
Property Taxes
Capital Assets
Restricted Assets
Long-term Obliga ons
Net Posi on and Fund Flow Assump on
Fund Balances
Note 2 – Stewardship, Compliance and Accountability
o Legally Adopted Budgets
Note 3 – Cash, Cash Equivalents and Investments
Note 4 – Capital Assets
Note 5 – Leases/Management and Opera ng Agreements
Note 6 – Disaggrega on of Accounts Receivable and Accounts Payable Balances, Credit Risk
Concentra on, and Major Customers
Note 8 – Long-Term Debt
o Long-Term Debt – Governmental Ac vi es
o Long-Term Debt – Business-type Ac vi es
Note 10 – Con ngencies and Commitments
o Governmental Funds – Encumbrances
Note 11 – Interfund Transfers and Balances
Note 12 – New Accoun ng Pronouncements
Note 13 – Fund Balances
City of Smithville
General Fund
Post-closing Trial Balance
For year 2022
Debits
Cash
Taxes Receivable-Delinquent
Allowance for Uncollectible Delinquent Taxes
Interest and Penalties Receivable on Taxes
Allowance for Uncollectible Interest and Penalties
Due from Other Funds
Due from State Government
Inventory of Supplies
Vouchers Payable
Due to Other Funds
Due to Federal Government
Due to State Government
Deferred Inflows of Resources
Fund Balance-Nonspendable-Inventory of Supplies
Fund Balance-Restricted-Public Safety
Fund Balance-Assigned-Culture and Recreation
Fund Balance-Unassigned
Totals for all accounts
$ 342,223
391,756
37,718
4,600
165,000
59,000
$ 1,000,297
Credits
$ 4,752
1,203
272,187
7,400
135,720
32,600
97,704
59,000
114,000
56,800
218,931
$ 1,000,297
City of Smithville
Governmental Activities, Governmental-Wide level
Post-closing Trial Balance
For year 2022
Debits
Cash
Taxes Receivable-Delinquent
Allowance for Uncollectible Delinquent Taxes
Interest and Penalties Receivable on Taxes
Allowance for Uncollectible Interest and Penalties
Due from State Government
Internal Receivables from Business-Type Activities
Inventory of Supplies
Land
Infrastructure
Accumulated Depreciation-Infrastructure
Buildings
Accumulated Depreciation-Buildings
Equipment
Accumulated Depreciation-Equipment
Vouchers Payable
Due to Federal Government
Due to State Government
Internal Payables to Business-Type Activities
Net Position-Net Investment in Capital Assets
Net Position-Restricted for Public Safety
Net Position-Unrestricted
Totals for all accounts
Credits
$ 342,223
391,756
$ 4,752
37,718
1,203
165,000
4,600
59,000
4,231,000
9,802,000
2,773,944
6,296,000
1,731,000
3,556,800
1,756,480
272,187
135,720
32,600
7,400
17,624,376
114,000
432,435
$ 24,886,097 $ 24,886,097
City of Smithville
General Fund
Operating statement account balances
For year 2023
Acct 3020/4020
Acct 3030/4030
Acct 3040/4040
Acct 3050/4050
Acct 3060/4060
Acct 3070/4070
Acct 3080/4080
Acct 3090/4090
Estimated
Revenues
Dr(Cr)
Revenues Dr(Cr)
Estimated Revenues-Property Taxes
$1,877,413
$1,877,578
Estimated Revenues-Sales Taxes
1,578,000
1,579,203
Estimated Revenues-Interest and Penalties on Taxes
15,000
12,571
Estimated Revenues-Licenses and Permits
500,000
497,960
Estimated Revenues-Fines and Forfeits
175,000
173,590
Estimated Revenues-Intergovernmental Revenue
789,000
789,000
Estimated Revenues-Charges for Services
659,720
661,253
Estimated Revenues-Miscellaneous Revenues
91,300
91,250
Acct 5020 / 6020 / 7020 Appropriations-General Government
Acct 5030 / 6030 / 7030 Appropriations-Public Safety
Acct 5040 / 6040 / 7040 Appropriations-Public Works
Acct 5050 / 6050 / 7050 Appropriations-Health and Welfare
Acct 5060 / 6060 / 7060 Appropriations-Culture and Recreation
Encumberan Expenditures
ces Dr(Cr)
Dr(Cr)
$1,500
$220,209
0
442,870
10,391
206,308
0
162,020
1,580
141,990
Balance Dr(Cr)
($165)
2,040
2,429
2,040
1,410
0
(1,533)
50
Appropriations Available Balance
Cr(Dr)
Cr(Dr)
$221,746
$37
443,520
650
219,010
2,311
162,630
610
144,082
512
City of Smithville
General Fund
Pre-closing Trial Balance
For year 2023
Debits
Cash
Taxes Receivable-Delinquent
Allowance for Uncollectible Delinquent Taxes
Interest and Penalties Receivable on Taxes
Allowance for Uncollectible Interest and Penalties
Due from Other Funds
Due from State Government
Inventory of Supplies
Vouchers Payable
Due to Other Funds
Due to Federal Government
Due to State Government
Deferred Inflows of Resources
Fund Balance-Nonspendable-Inventory of Supplies
Fund Balance-Restricted-Public Safety
Fund Balance-Assigned-Culture and Recreation
Fund Balance-Unassigned
Estimated Revenues
Appropriations
Estimated Other Financing Uses-Interfund Transfers Out
Budgetary Fund Balance
Totals for all accounts
Credits
$ 342,223
391,756
$ 4,752
37,718
1,203
4,600
165,000
59,000
272,187
7,400
135,720
32,600
97,704
59,000
114,000
56,800
218,931
5,689,933
$ 6,690,230
5,646,700
38,750
4,483
$ 6,690,230
City of Smithville
General Fund
Post-closing Trial Balance
For year 2023
Debits
Cash
Taxes Receivable-Delinquent
Allowance for Uncollectible Delinquent Taxes
Interest and Penalties Receivable on Taxes
Allowance for Uncollectible Interest and Penalties
Inventory of Supplies
Vouchers Payable
Due to Other Funds
Due to Federal Government
Due to State Government
Deferred Inflows of Resources
Fund Balance-Nonspendable-Inventory of Supplies
Fund Balance-Restricted-Public Safety
Fund Balance-Committed-Health and Welfare
Fund Balance-Unassigned
Encumbrances Outstanding
Encumbrances
Totals for all accounts
Credits
$ 594,543
286,360
$ 23,539
11,902
2,739
60,420
219,121
3,100
133,973
36,170
74,386
60,420
54,000
43,000
302,777
13,471
13,471
$ 966,696
$ 966,696
City of Smithville
General Fund
Balance Sheet December 31, 2023
Assets
Cash
Taxes Receivable-Delinquent
Less Allowance for Uncollectible Delinquent Taxes
Interest and Penalties Receivable on Taxes
Less Allowance for Uncollectible Interest and Penalties
Inventory of Supplies
Total Assets
Liabilities, Deferred Inflows of Resources, and Fund Bala
Liabilities:
Vouchers Payable
Due to Other Funds
Due to Federal Government
Due to State Government
Total Liabilities
Deferred Inflows of Resources
Fund Balances:
Nonspendable-Inventory of Supplies
Restricted-Public Safety
Committed-Health and Welfare
Unassigned
Total Fund Balances
Liabilities, Deferred Inflows of Resources, and Fund Balances
City of Smithville
General Fund
Balance Sheet December 31, 2023
Assets
594,543
286,360
23,539
11,902
2,739
262,821
9,163
60,420
926,947
Deferred Inflows of Resources, and Fund Balances
219,121
3,100
133,973
36,170
392,364
74,386
60,420
54,000
43,000
302,777
460,197
926,947
City of Smithville
General Fund
Pre-closing Trial Balance
For year 2023
Debits
Cash
Taxes Receivable-Delinquent
Allowance for Uncollectible Delinquent Taxes
Interest and Penalties Receivable on Taxes
Allowance for Uncollectible Interest and Penalties
Inventory of Supplies
Vouchers Payable
Due to Other Funds
Due to Federal Government
Due to State Government
Deferred Inflows of Resources
Fund Balance-Nonspendable-Inventory of Supplies
Fund Balance-Restricted-Public Safety
Fund Balance-Assigned-Culture and Recreation
Fund Balance-Unassigned
Budgetary Fund Balance
Encumbrances Outstanding
Estimated Revenues
Revenues
Appropriations
Estimated Other Financing Uses-Interfund Transfers Out
Expenditures
Other Financing Uses-Interfund Transfers Out
Encumbrances
Totals for all accounts
Credits
$ 594,543
286,360
$ 23,539
11,902
2,739
60,420
219,121
3,100
133,973
36,170
74,386
60,420
114,000
56,800
217,511
4,517
13,471
5,685,433
5,682,405
5,651,200
38,750
5,632,189
38,750
13,471
$ 12,327,585
$ 12,327,585
City of Smithville
General Fund
Operating statement account balances
For year 2023
Acct 3020/4020
Acct 3030/4030
Acct 3040/4040
Acct 3050/4050
Acct 3060/4060
Acct 3070/4070
Acct 3080/4080
Acct 3090/4090
Acct 5020 / 6020 / 7020
Acct 5030 / 6030 / 7030
Acct 5040 / 6040 / 7040
Acct 5050 / 6050 / 7050
Acct 5060 / 6060 / 7060
Estimated Revenues-Property Taxes
Estimated Revenues-Sales Taxes
Estimated Revenues-Interest and Penalties on Taxes
Estimated Revenues-Licenses and Permits
Estimated Revenues-Fines and Forfeits
Estimated Revenues-Intergovernmental Revenue
Estimated Revenues-Charges for Services
Estimated Revenues-Miscellaneous Revenues
Estimated
Revenues Dr(Cr)
$1,877,413
1,578,000
15,000
500,000
175,000
789,000
659,720
91,300
Appropriations-General Government
Appropriations-Public Safety
Appropriations-Public Works
Appropriations-Health and Welfare
Appropriations-Culture and Recreation
Encumberances
Dr(Cr)
$1,500
0
10,391
0
1,580
e
nt balances
Revenues Dr(Cr)
Balance Dr(Cr)
$1,877,578
($165)
1,579,203
(1,203)
12,571
2,429
497,960
2,040
173,590
1,410
789,000
0
661,253
(1,533)
91,250
50
Appropriations
Available Balance
Expenditures Dr(Cr) Cr(Dr)
Cr(Dr)
$1,175,043
$1,178,000
$1,457
2,214,350
2,215,000
650
862,998
875,700
2,311
734,390
735,000
610
645,408
647,500
512
City of Smithville
General Fund
Statement of Revenues, Expenditures, and changes in Fund balances
For the Year Ended December 31, 2023
Revenues:
Property Taxes
Sales Taxes
Interest and Penalties on Taxes
Licenses and Permits
Fines and Forfeits
Intergovernmental Revenue
Charges for Services
Miscellaneous Revenues
Total Revenues:
1,877,578
1,579,203
12,571
497,960
173,590
789,000
661,253
91,250
Expenditures:
General Government
Public Safety
Public Works
Health and Welfare
Culture and Recreation
Total Expenditures:
1,175,043
2,214,350
862,998
734,390
645,408
Excess of Revenues over Expenditures:
Other Financing Sources (Uses):
Interfund Transfers out
Total Other Financing Sources:
Change (Decrease) in Fund Balances:
Fund Balances, January 1, 2023:
Fund Balances, December 31, 2023:
alances
5,682,405
5,632,189
50,216
(38,750)
(38,750)
11,466
448,731
460,197
City of Smithville
General Fund
Statement of Revenues, Expenditures, and changes in Fund balances – Budget and Actual
For the Year Ended December 31, 2023
Budgeted Amounts
Original
Actual
Revenues:
Taxes:
Property Taxes
Sales Taxes
Interest and Penalties on Taxes
Total Taxes
1,859,913
1,578,000
37,000
3,474,913
1,877,413
1,578,000
15,000
3,470,413
Licenses and Permits
Fines and Forfeits
Intergovernmental Revenue
Charges for Services
Miscellaneous Revenues
Total Revenues
500,000
175,000
789,000
659,720
91,300
2,215,020
500,000
175,000
789,000
659,720
91,300
2,215,020
1,169,500
2,206,000
875,700
735,000
660,500
5,646,700
1,178,000
2,215,000
875,700
735,000
647,500
5,651,200
Excess of Expenditures over Revenues:
43,233
34,233
Other Financing Sources:
(38,750)
(38,750)
0
0
Increase in Fund Balance for Year:
4,483
(4,517)
Fund Balances, January 1,2023:
Fund Balances, December 31,2023:
448,731
453,214
448,731
444,214
Expenditures and Encumberances:
General Government
Public Safety
Public Works
Health and Welfare
Culture and Recreation
Total Expenditures
Decrease in Encumberances Outstanding:
nces – Budget and Actual
Variance with Final
Actual Amounts Budgetary Basis Budget Over (Under)
1,877,578
1,579,203
12,571
3,469,352
165
1,203
(2,429)
(1,061)
497,960
173,590
789,000
661,253
91,250
2,213,053
(2,040)
(1,410)
0
1,533
(50)
(1,967)
1,176,543
2,214,350
873,389
734,390
646,988
5,645,660
(1,457)
(650)
(2,311)
(610)
(512)
(5,540)
36,745
2,512
(38,750)
–
13,471
(13,471)
11,466
(10,959)
448,731
460,197
0
(10,959)
City of Smithville
General Fund
Reconciliation of Total Expenditures to Total Expenditures and Encumberances
For the Year Ended December 31, 2023
Total Expenditures:
5,632,189
Total Encumberances:
13,471
Total Expenditures and Encumberances:
$5,645,660
City of Smithville
General Fund
Reconciliation of Budgetary Basis to GAAP Basis
Expenditures for 2023, Budgetary Basis:
Less: Encumberances Outstanding as of December 31, 2023
Expenditures for 2023, GAAP Basis
5,645,660
13,471
$5,632,189
City of Smithville
Street Improvement Fund
Post-closing Trial Balance
For year 2023
Debits
Cash
Fund Balance-Restricted
Encumbrances Outstanding-Elm Street Project
Encumbrances Outstanding-Spruce Street Project
Encumbrances-Elm Street Project
Encumbrances-Spruce Street Project
Totals for all accounts
Credits
$ 1,000
$ 1,000
50,000
190,000
50,000
190,000
$ 241,000
$ 241,000
City of Smithville
Street Improvement Fund
Balance Sheet December 31, 2023
Assets
Cash
Total Assets
Liabilities, Deferred Inflows of Resources, and Fund Balances
Liabilities
Total Liabilities:
1,000
1,000
0
0
Fund Balances:
Fund Balance-Restricted
Total Fund Balances:
1,000
1,000
Total Liabilities, Deferred Inflows of Resources, and Fund Balances:
1,000
City of Smithville
Street Improvement Fund
Pre-closing Trial Balance
For year 2023
Debits
Cash
Encumbrances Outstanding-Elm Street Project
Encumbrances Outstanding-Spruce Street Project
Revenues-Sales Taxes
Other Financing Sources-Proceeds of Bonds
Construction Expenditures-Elm Street Project
Encumbrances-Elm Street Project
Encumbrances-Spruce Street Project
Totals for all accounts
Credits
$ 1,000
$ 50,000
190,000
361,000
3,000,000
3,360,000
50,000
190,000
$ 3,601,000 $ 3,601,000
City of Smithville
Street Improvement Fund
Statement of Revenues, Expenditures, and changes in Fund balances
For the Year Ended December 31, 2023
Revenues:
Sales Taxes
Total Revenues:
Expenditures:
Construction Expenditures-Elm Street Project
Total Expenditures:
361,000
361,000
3,360,000
3,360,000
Excess of Revenues over Expenditures:
(2,999,000)
Other Financing Sources (Uses):
Proceeds of Bonds
3,000,000
Total Other Financing Sources:
3,000,000
Change (Decrease) in Fund Balances:
1,000
Fund Balances, January 1, 2023:
Fund Balances, December 31, 2023:
$0
$1,000
City of Smithville
Street Improvement Bond Debt Service Fund
Pre-closing Trial Balance
For year 2023
Debits
Cash
Budgetary Fund Balance
Estimated Revenues-Accrued Interest on Bonds Sold
Estimated Other Financing Sources-Premium on Bonds
Estimated Other Financing Sources-Interfund Transfers In
Revenues-Accrued Interest on Bonds Sold
Other Financing Sources-Premium on Bonds
Other Financing Sources-Interfund Transfers In
Appropriations
Expenditures-Bond Interest
Totals for all accounts
Credits
$ 37,500
$ 37,500
6,250
30,000
38,750
6,250
30,000
38,750
37,500
37,500
$ 150,000 $ 150,000
City of Smithville
Street Improvement Bond Debt Service Fund
Post-closing Trial Balance
For year 2023
Debits
Credits
Cash
Fund Balance-Restricted
Totals for all accounts
$ 37,500
$ 37,500
$ 37,500
$ 37,500
City of Smithville
Street Improvement Bond Debt Service Fund
Balance Sheet December 31, 2023
Assets
Cash
Total Assets
Liabilities, Deferred Inflows of Resources, and Fund Balances
Liabilities
Total Liabilities:
37,500
37,500
0
0
Fund Balances:
Fund Balance-Restricted
Total Fund Balances:
37,500
37,500
Total Liabilities, Deferred Inflows of Resources, and Fund Balances:
37,500
City of Smithville
Street Improvement Debt Service Fund
Statement of Revenues, Expenditures, and changes in Fund balances
For the Year Ended December 31, 2023
Revenues:
Accrued Interest on Bonds sold
Total Revenues:
6,250
Expenditures:
Bond Interest
Total Expenditures:
37,500
6,250
37,500
Excess of Revenues over Expenditures:
(31,250)
Other Financing Sources (Uses):
Premium on Bonds
Interfund Transfers In
30,000
38,750
Total Other Financing Sources:
68,750
Change (Decrease) in Fund Balances:
37,500
Fund Balances, January 1, 2023:
Fund Balances, December 31, 2023:
$0
$37,500
City of Smithville
Street Improvement Debt Service Fund
Statement of Revenues, Expenditures, and changes in Fund balances – Budget and Actual
For the Year Ended December 31, 2023
Budgeted Amounts
Original
Actual
Revenues:
Accrued Interest on Bonds Sold
Total Revenues:
6,250
6,250
6,250
6,250
Expenditures and Encumberances:
Bond Interest
Total Expenditures:
37,500
37,500
37,500
37,500
Excess of Expenditures over Revenues:
(31,250)
(31,250)
Other Financing Sources:
Premium on Bonds
Interfund Transfers In
Total Other Financing Sources
30,000
38,750
68,750
30,000
38,750
68,750
Decrease in Encumberances Outstanding:
0
0
Increase in Fund Balance for Year:
37,500
37,500
Fund Balances, January 1,2023
Fund Balances, December 31,2023
$0
$37,500
$0
$37,500
ce Fund
nd balances – Budget and Actual
1, 2023
Variance
Actual Amounts Budgetary Basis with Final
6,250
6,250
0
0
37,500
37,500
0
0
(31,250)
0
30,000
38,750
68,750
0
0
0
0
0
37,500
0
$0
$37,500
$0
$0
City of Smithville
Street Improvement Debt Service Fund
Legal Debt Information
For the Year Ended December 31, 2023
Total Estimated Actual Valuation:
Maximum General Obligation
Debt, limited to 8% of assessed
valuation
Net chargeable to bond limit
Legal Debt Margin – December 31
Note: The city authorized new
Bonds in the amount of
$6,000,000 but have not been
issued.
342,581,818
27,406,545
3,000,000
24,406,545
City of Smithville
Street Improvement Bond Debt Service Fund
Post-closing Trial Balance
For year 2024
Debits
Cash
Taxes Receivable-Delinquent
Allowance for Uncollectible Delinquent Taxes
Interest and Penalties Receivable on Taxes
Allowance for Uncollectible Interest and Penalties
Investments
Deferred Inflows of Resources
Fund Balance-Restricted
Totals for all accounts
Credits
$ 236,400
25,000
$ 5,000
875
131
300,000
$ 562,275
8,124
549,020
$ 562,275
City of Smithville
Street Improvement Bond Debt Service Fund
Balance Sheet December 31, 2024
Assets
Cash
Taxes Receivable-Delinquent
Allowance for Uncollectible Delinquent Taxes
Interest and Penalties Receivable on Taxes
Allowance for Uncollectible Interest and Penalties
Investments
Total Assets:
Liabilities, Deferred Inflows of Resources, and Fund Balances
Liabilities
Total Liabilities:
Deferred Inflows of Resources:
236,400
25,000
5,000
875
131
20,000
744
300,000
557,144
0
8,124
Fund Balances:
Fund Balance-Restricted
549,020
Total Fund Balances:
Total Liabilities, Deferred Inflows of Resources, and Fund Balances:
549,020
$557,144
City of Smithville
Street Improvement Bond Debt Service Fund
Pre-closing Trial Balance
For year 2024
Debits
Cash
Taxes Receivable-Delinquent
Allowance for Uncollectible Delinquent Taxes
Interest and Penalties Receivable on Taxes
Allowance for Uncollectible Interest and Penalties
Investments
Deferred Inflows of Resources
Fund Balance-Restricted
Budgetary Fund Balance
Estimated Revenues-Taxes
Estimated Revenues-Investment Income
Estimated Revenues-Accrued Interest on Bonds Sold
Revenues-Taxes
Revenues-Interest and Penalties on Taxes
Revenues-Investment Income
Revenues-Accrued Interest on Bonds Sold
Appropriations
Expenditures-Bond Interest
Totals for all accounts
$ 236,400
25,000
875
300,000
645,000
4,000
27,500
157,500
$ 1,396,275
Credits
$ 5,000
131
8,124
37,500
519,000
637,560
60
3,900
27,500
157,500
$ 1,396,275
City of Smithville
Street Improvement Debt Service Fund
Statement of Revenues, Expenditures, and changes in Fund balances
For the Year Ended December 31, 2024
Revenues:
Taxes
Interest and Penalties on Taxes
Investment Income
Accrued Interest on Bonds Sold
Total Revenues:
637,560
60
3,900
27,500
669,020
Expenditures:
Bond Interest
Total Expenditures:
157,500
157,500
Excess of Revenues over Expenditures:
511,520
Other Financing Sources (Uses):
Total Other Financing Sources:
0
Change (Decrease) in Fund Balances:
511,520
Fund Balances, January 1, 2024:
Fund Balances, December 31, 2024:
$37,500
$549,020
City of Smithville
Street Improvement Debt Service Fund
Statement of Revenues, Expenditures, and changes in Fund balances – Budget and Actual
For the Year Ended December 31, 2024
Budgeted Amounts
Original Actual
Actual Amounts Budgetary Basis
Revenues:
Taxes
645,000 645,000
637,560
Interest and Penalties on Taxes
0
0
60
Investment Income
4,000
4,000
3,900
Accrued Interest on Bonds Sold
27,500
27,500
27,500
Total Revenues:
676,500 676,500
669,020
Expenditures and Encumberances:
Bond Interest
Total Expenditures:
157,000
157,000
157,500
157,500
157,500
157,500
Excess of Expenditures over Revenues:
519,500
519,000
511,520
Other Financing Sources:
Total Other Financing Sources:
0
0
0
Decrease in Encumberances Outstanding:
0
0
0
Increase in Fund Balance for Year:
519,500
519,000
511,520
Fund Balances, January 1,2024
Fund Balances, December 31,2024
$37,500 $37,500
$557,000 $556,500
$37,500
$549,020
Variance with Final
Budget Over (Under)
(7,440)
60
(100)
0
(7,480)
0
0
(7,480)
0
0
(7,480)
$0
($7,480)
City of Smithville
Solid Waste Disposal Fund
Post-closing Trial Balance
For year 2023
Debits
Cash
Customer Accounts Receivable
Allowance for Doubtful Accounts
Due from Other Funds
Inventories
Land
Buildings
Accumulated Depreciation-Buildings
Equipment
Accumulated Depreciation-Equipment
Vouchers Payable
Accrued Payroll and Fringe Benefits
Accrued Interest Payable
Revenue Anticipation Notes-Current
Revenue Anticipation Notes-Long-Term
Net Position-Net Investment in Capital Assets
Net Position-Unrestricted
Totals for all accounts
Credits
$ 381,392
99,813
$ 5,725
3,100
74,583
600,000
1,650,000
832,500
1,800,000
872,592
85,600
27,429
4,875
150,000
150,000
2,044,908
435,259
$ 4,608,888 $ 4,608,888
Solid Waste Disposal Fund
Statement of Fund Net position
As of December 31, 2023
Current Assets:
Cash
Customer Accounts Receivable
Allowance for Doubtful Accounts
Due from Other Funds
Inventories
Total Current Assets:
Land
Buildings
Accumulated Depreciation-Buildings
Equipment
Accumulated Depreciation-Equipment
Total Assets:
Current Liabilities:
Vouchers Payable
Accrued Payroll and Fringe Benefits
Accrued Interest Payable
Revenue Anticipation Notes-Current
Total Current Liabilities:
Revenue Anticipation Notes-Long-Term
Total Liabilities:
Net Position:
Net Investment in Capital Assets
Unrestricted
Total Net Position:
381,392
99,813
5,725
94,088
3,100
74,583
$553,163
600,000
1,650,000
832,500
1,800,000
872,592
817,500
927,408
$2,898,071
85,600
27,429
4,875
150,000
$267,904
150,000
$417,904
2,044,908
435,259
$2,480,167
City of Smithville
Solid Waste Disposal Fund
Pre-closing Trial Balance
For year 2023
Debits
Cash
Customer Accounts Receivable
Allowance for Doubtful Accounts
Due from Other Funds
Inventories
Land
Buildings
Accumulated Depreciation-Buildings
Equipment
Accumulated Depreciation-Equipment
Vouchers Payable
Accrued Payroll and Fringe Benefits
Accrued Interest Payable
Revenue Anticipation Notes-Current
Revenue Anticipation Notes-Long-Term
Net Position-Net Investment in Capital Assets
Net Position-Unrestricted
Charges for Services
Payroll and Fringe Benefits Expense
Materials and Supplies Expense
Depreciation Expense
Provision for Doubtful Accounts
Interest Expense
Totals for all accounts
Credits
$ 381,392
99,813
$ 5,725
3,100
74,583
600,000
1,650,000
832,500
1,800,000
872,592
85,600
27,429
4,875
150,000
150,000
2,194,638
202,308
2,618,263
1,344,067
875,797
309,330
973
4,875
$ 7,143,930 $ 7,143,930
City of Smithville
Solid Waste Disposal Fund
Statement of Revenues, Expenses, and Changes in Net Postion
For year Ended December 31, 2023
Operating Revenues:
Charges for Services
2,618,263
Total Operating Revenues:
$2,618,263
Operating Expenses:
Payroll and Fringe Benefits Expense
Materials and Supplies Expense
Depreciation Expense
Provision for Doubtful Accounts
Total Operating Expenses:
Operating Income:
Nonoperating Expenses:
Interest Expense
Change in Net Position:
Net Position January 1, 2023
Net Position December 31, 2023
1,344,067
875,797
309,330
973
$2,530,167
$88,096
4,875
$83,221
$2,396,946
$2,480,167
City of Smithville
Solid Waste Disposal Fund
Statement of Cash Flows
For year Ended December 31, 2023
Cash Flow from Operating Activities:
Cash Received from customers
2,639,850
Cash paid to employees for services
(1,483,358)
Cash paid to suppliers
(860,500)
Net cash provided by operating activities:
Cash Flow from Noncapital Financing Activities:
Net cash provided by Noncapital Financing Activities:
$295,992
–
Cash Flow from Capital and Related Financing Activities:
Acquisition of Capital Assets
Net cash provided by Capital and Related Financing Activities:
(159,600)
(159,600)
Net Increase in Cash and Cash Equivalent:
$136,392
Cash and Cash Equivalents 1/1/2023:
Cash and Cash Equivalents 12/31/2023:
245,000
381,392
City of Smithville
Tax Custodial Fund
Post-closing Trial Balance
For year 2023
Debits
Taxes Receivable for Other Funds and Governments-Delinquent
Due to Other Funds
Net Position – Restricted for Other Governments
Totals for all accounts
Credits
$ 2,367,865
$ 312,276
2,055,589
$ 2,367,865 $ 2,367,865
City of Smithville
Statement of Fiduciary Net position Tax Custodial Fund
As of December 31, 2023
Current Assets:
Taxes Receivable for Other Funds and Governments-Delinquent
Total Current Assets:
Total Assets:
Current Liabilities:
Due to Other Funds
Total Current Liabilities:
Total Liabilities:
Net Position:
Net Position – Restricted for Other Governments
Total Net Position:
2,367,865
2,367,865
2,367,865
312,276
312,276
312,276
2,055,589
2,055,589
City of Smithville
Tax Custodial Fund
Pre-closing Trial Balance
For year 2023
Debits
Taxes Receivable for Other Funds and Governments-Delinquent
Due to Other Funds
Net Position – Restricted for Other Governments
Additions-Property Tax Collections for Other Governments
Additions – Interest and Penalties Collections for Other Governments
Deductions-Administrative Fee
Deductions-Payments of Property Taxes to Other Governments
Totals for all accounts
Credits
$ 2,367,865
$ 312,276
1,533,587
12,811,984
57,654
123,477
12,224,159
$ 14,715,501 $ 14,715,501
City of Smithville
Statement of Changes in Fiduciary Net position Tax Custodial Fund
As of December 31, 2023
Additions:
Property Tax Collections for Other Governments
Interest and Penalties Collections for Other Governments
Total Additions:
12,811,984
57,654
12,869,638
Deductions:
Administrative Fee
Payments of Property Taxes to Other Governments
Total Deductions:
123,477
12,224,159
12,347,636
Net Increase in Net Position:
Net Position – Restricted for Other Governments, 1/1/2023:
Net Position – Restricted for Other Governments, 12/31/2023:
522,002
1,533,587
2,055,589
City of Smithville
Governmental Activities, Governmental-Wide level
Pre-closing Trial Balance
For year 2023
Debits
Cash
Taxes Receivable-Delinquent
Allowance for Uncollectible Delinquent Taxes
Interest and Penalties Receivable on Taxes
Allowance for Uncollectible Interest and Penalties
Inventory of Supplies
Land
Infrastructure
Accumulated Depreciation-Infrastructure
Buildings
Accumulated Depreciation-Buildings
Equipment
Accumulated Depreciation-Equipment
Vouchers Payable
Due to Federal Government
Due to State Government
Accrued Interest Payable on Long-Term Debt
Internal Payables to Business-Type Activities
Deferred Serial Bonds Payable
Premium on Deferred Serial Bonds Payable
Net Position-Net Investment in Capital Assets
Net Position-Restricted for Public Safety
Net Position-Unrestricted
Program Revenues-General Government-Charges for Services
Program Revenues-Public Safety-Charges for Services
Program Revenues-Public Safety-Operating Grants and Contributions
Program Revenues-Health and Welfare-Operating Grants and Contributions
Program Revenues-Culture and Recreation-Charges for Services
General Revenues-Taxes-Real Property
General Revenues-Taxes-Sales
General Revenues-Interest and Penalties on Taxes
General Revenues-Miscellaneous
Expenses-General Government
Expenses-Public Safety
Expenses-Public Works
Expenses-Health and Welfare
Expenses-Culture and Recreation
Expenses-Interest on Long-Term Debt
Totals for all accounts
$ 633,043
286,360
11,902
60,420
4,231,000
13,162,000
6,296,000
3,641,575
1,267,823
2,491,042
1,089,118
806,186
709,225
68,286
$ 34,753,980
Credits
$ 23,539
2,739
2,871,964
1,940,846
2,264,594
219,121
133,973
36,170
37,500
3,100
3,000,000
29,536
17,624,376
114,000
432,435
939,645
99,519
360,000
429,000
293,639
1,859,913
1,940,203
6,918
91,250
$ 34,753,980
City of Smithville
Governmental Activities, Governmental-Wide level
Post-closing Trial Balance
For year 2023
Debits
Cash
Taxes Receivable-Delinquent
Allowance for Uncollectible Delinquent Taxes
Interest and Penalties Receivable on Taxes
Allowance for Uncollectible Interest and Penalties
Inventory of Supplies
Land
Infrastructure
Accumulated Depreciation-Infrastructure
Buildings
Accumulated Depreciation-Buildings
Equipment
Accumulated Depreciation-Equipment
Vouchers Payable
Due to Federal Government
Due to State Government
Accrued Interest Payable on Long-Term Debt
Internal Payables to Business-Type Activities
Deferred Serial Bonds Payable
Premium on Deferred Serial Bonds Payable
Net Position-Net Investment in Capital Assets
Net Position-Restricted for Public Safety
Net Position-Unrestricted
Program Revenues-General Government-Operating Grants and Contributions
Program Revenues-Public Safety-Operating Grants and Contributions
Expenses-Public Safety
Expenses-Public Works
Totals for all accounts
$ 633,043
286,360
11,902
60,420
4,231,000
13,162,000
6,296,000
3,641,575
360,000
1,089,118
$ 29,771,418
Credits
$ 23,539
2,739
2,871,964
1,940,846
2,264,594
219,121
133,973
36,170
37,500
3,100
3,000,000
29,536
17,223,635
54,000
481,583
360,000
1,089,118
$ 29,771,418
City of Smithville
Statement of Net Position
December 31,2023
Primary Government
Governmental
Activities
Business-Type
Activities
Cash
Receivables (net)
Inventory of supplies
Capital assets (net)
Total assets
633,043
271,984
60,420
20,253,171
$ 21,218,618
381,392
94,088
74,583
2,344,908
$ 2,894,971
Accounts and other payables
Internal balances (note 3)
Short-Term Notes Payable
Non-Current Liabilities
Total liabilities
426,764
3,100
0
3,029,536
$ 3,459,400
$
117,904
-3,100
150,000
150,000
414,804
17,223,635
54,000
481,583
$ 17,759,218
2,044,908
0
435,259
$ 2,480,167
Assets
Liabilities
Net Position
Net investment in capital assets
Restricted for public safety
Unrestricted
Total net position
ry Government
siness-Type
Total
1,014,435
366,072
135,003
22,598,079
$ 24,113,589
544,668
0
150,000
3,179,536
$ 3,874,204
19,268,543
54,000
916,842
$ 20,239,385
City of Smithville
Statement of Activities
For Year Ended December 31,2023
Program Revenues
Functions / Programs
Expenses
Charges for Services
Primary government:
Governmental activities:
General Government
Public Safety
Public works
Health and welfare
Culture and recreation
Interest on long-term debt
Total governmental activities:
1,267,823
2,491,042
1,089,118
806,186
709,225
68,286
6,431,680
939,645
99,519
0
0
293,639
0
1,332,803
Business-type activities:
2,535,042
2,618,263
Total primary government:
8,965,749
3,951,066
General revenues:
Taxes:
Property taxes levied for general purposes
Sales taxes
Interest and penalties on delinquent taxes
Miscellaneous
Total general revenues:
Increase (decrease) in unrestricted net position
Net position, January 1, 2023
Net position, December 31, 2023
City of Smithville
tement of Activities
Ended December 31,2023
Net (Expenses)
Revenues Changes in
Net Position
gram Revenues
Operating
Grants and
Contribution
s
Governmenta
l Activities
360,000
429,000
789,000
(328,178)
(2,031,523)
(1,089,118)
(377,186)
(415,586)
(68,286)
(4,309,877)
0
(328,178)
(2,031,523)
(1,089,118)
(377,186)
(415,586)
(68,286)
(4,309,877)
–
–
83,221
83,221
789,000
(4,309,877)
83,221
(4,226,656)
Business Type Activities
1,859,913
1,940,203
6,918
91,250
3,898,284
(411,593)
18,170,811
17,759,218
Primary Government
Business-type Activities
1,859,913
1,940,203
6,918
91,250
3,898,284
83,221
2,396,946
2,480,167
(328,372)
20,567,757
20,239,385
City of Smithville
Reconciliation of the Balance Sheet – Governmental Funds to the Statement of Net Position
December 31,2023
Total fund balances – governmental funds
Amounts reported for governmental activities in the statement of net position are different because
Capital assets used in governmental activities are not financial resources and therefore are not reported in the funds.
Long-term liabilities, including bond payables, are not due and payable in the current period and therefore are not reported i
Accrued interest payable is not due and payable in the current period and therefore is not included in the funds
Deferred inflows of resouces are recognized as revenues of governmental activities in the statement of activities.
Net position of governmnetal activities
of Net Position
$
498,697
ed in the funds.
20,253,171
efore are not reported in the
(3,029,536)
funds.
(37,
