An idler shaft assembly for an internal combustion engine provides significant cost savings eliminates processing and assembly steps, and provides accurate orientation of components. The idler shaft assembly includes a shaft adapted for rotation about a first axis. A one-piece sprocket and gear assembly is received on the shaft. A sprocket portion of the one-piece assembly has a first diameter that cooperates with an associated drive chain that is driven by the crankshaft, and a gear portion of the one-piece assembly has a second diameter that cooperates with an associated gear of an associated balance shaft.