The City of Waterman established a capital projects fund for the construction of an access ramp from the parking garage to the city’s office building to be used by individuals with disabilities. The estimated cost of the ramp is $213,000. On January 1, 20X2, a 10 percent, $154,000 bond issue was sold at 103 with the premium transferred to the debt service fund. At that date, the county board provided a $59,000 grant. After a period of negotiation, the city council awarded a construction contract for $186,000 on April 5, 20X2. The ramp was completed on August 8, 20X2; its actual cost was $193,000. The city council approved payment of the total actual cost of $193,000. In addition to the $193,000, the ramp was carpeted with all-weather material at a cost of $6,780. On November 3, 20X2, the city council gave the final approval to pay for the ramp and the carpeting. After all bills were paid, the remaining fund balance was transferred to the debt service fund. The City of Waterman