The post-closing trial balance for the City of Fort Collins governmental funds at June 30, 2014, shows the following ledger account balances:
1. During the year, Fort Collins purchased $9,000 in equipment, which was not depreciated.
2. Fort Collins also has other fixed assets with a historical cost of $95,000 and accumulated depreciation of $65,000.
3. Fort Collins has capital project fund construction expenditures totaling $20,000.
4. During the year, the city issued a bond at $500,000 par value.
5. During the year, the city entered into a lease agreement. The entire amount should be recognized as general long-term debt.
6. The city's revenue collected in advance would be treated as revenue under accrual accounting.
7. The transfers in and out were made between governmental funds.
8. The city does not report internal service funds.
Prepare a conversion worksheet to determine the change in net position and the net position balance for the city's governmental funds.
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