Brilliant County is preparing the reconciliations required b…
Brilliant County is preparing the reconciliations required by GASB 34 for its fiscal year 2017 financial statements. The following information is taken from the County’s 2017 governmental funds and government-wide year-end financial statement accounts: Brilliant County is involved in two lawsuits related to the police department: $70,000 of C&J liability was accrued during 2016 and $24,000 was accrued during 2017. The county expects both lawsuits to be settled in 2019. a) Provide the reconciliation of the total fund balances of governmental funds to the net position of governmental activities (balance sheet reconciliation). Label all items & show any calculations. 30 points b) Provide the reconciliation of the net change in fund balances of governmental funds to the change in net position of governmental activities (operating statement reconciliation). Label all items & show any calculations. 30 points
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