help with create a consolidate balance sheet

Please refer to the attachment..

Fund Types

The transactions of the authority are accounted for

in the following governmental fund types:

_ General fund—To account for all revenues and

expenditures not required to be accounted for in

other funds.

_ Capital projects fund—To account for financial

resources designated to construct or acquire capital

facilities and improvements. Such resources

are derived principally from other municipal utility

districts to which the Williamsburg Regional

Sewage Treatment Authority provides certain

services.

Williamsburg Regional Sewage

Treatment Authority

Bal sheet

October 31, 2012

Cash $ 751 $ 5,021

Time deposits 16,398

Due on insurance claim 9,499

Due from general fund 9,000

Due from participants 66,475 4,414

Total assets $76,725 $34,833

Liabilities and fund balance:

Accounts payable $17,725

Due to capital projects fund 9,000

26,725

Fund balance 50,000 34,833

Total liabilities and fund balance $76,725 $34,833

Fund Types
The transactions of the authority are accounted for
in the following governmental fund types:
_ General fund—To account for all revenues and
expenditures not required to be accounted for in
other funds.
_ Capital projects fund—To account for financial
resources designated to construct or acquire capital
facilities and improvements. Such resources
are derived principally from other municipal utility
districts to which the Williamsburg Regional
Sewage Treatment Authority provides certain
services.

Here is what needs to be done.

1. Recast the balance sheets of the two funds into

a single consolidated balance sheet. Show separately,

however, the restricted and the unrestricted

portions of the consolidated fund

balance account (not each individual asset and

liability). Be sure to eliminate interfund payables

and receivables.

2. Which presentation (the unconsolidated or the

consolidated) providesmore complete information?

Explain. Which presentation might be

seen as misleading? Why? What advantages,

if any, do you see to the presentation that is less

complete and more misleading?

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