Jyra Mitra

Professor Hyde

ACCT 316

10 September 2014

Exercise 3 - 1

A. The Statement of Activities present information showing how the governments net

asset changed during current year. Program revenues, which directly offset costs of

specific functions, are allocated to those functions, resulting in the net expenses for

governmental activities. Reports for revenues and expenses are categorized through

charts and graphs after the Changes in Net Positions. The report shows the

Expenses and Program Revenues. I believe that evident functions or programs

expenses show significant problems to society due to the unwanted causes of

programs.

B. Revenues are categorized into three different columns, namely General, Sheriff, and

Debt Service. General Taxes are the dominant amount to revenues. Property taxes

for 2013 amounted to $127,585,203 where General taxes amounted around $10

million more. Sales taxes are applicable in the state of Tennessee and thus

additional amount contributed to general taxes.

C. Expenditures are classified into three categories, (1) current which include the

general government, health, and highways; (2) debt service which include the

principal and interest charges; (3) capital outlay which includes general government

and education. Revenues and expenditures do not agree, as a matter of fact, excess

of $53,589,052 for general fund and negative numbers for Sheriff and Debt Service.

A possible event that could occur is the excess amount of spending occurring within

the Sheriff (Collegedale Police) and Debt service (collection agencies).