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.