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CITY OF FALCON HEIGHTS, NIINNESOTA • GOVERNMENTAL FUNDS RECONCILIATION OF THE STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE TO STATEMENT OF ACTIVITIES For the Year Ended December 31, 2003 Total Net Change in Fund Balance -Governmental Funds (Page 31) Amounts reported for governmental activities in the Statement Activities are different because: Capital outlays are reported in governmental funds as expenditures. However, in the Statement of Activities, the cost of those assets is allocated over the estimated useful lives as depreciation expense. Capital Outlays Depreciation Expense Disposed Assets Certain revenues in the statement of activities that do not provide current financial • resources are not reported as revenues in the funds (special assessments). Compensated absences are recognized as paid in the governmental funds but recognized as the expense is incurred in the Statement of Activities. Principal payments on long-term debt are recognized as expenditures in the governmental funds but as an increase in net assets on the Statement of Activities. Interest on long-team debt in the Statement of Activities differs from the amount reported in the governmental funds because interest is recognized as an expenditw-e in the funds when it is due, and thus requires the use of current financial resources. In the statement of activities, however, interest expense is recognized as the interest accrues, regardless of when it is due. Delinquent property taxes receivable will be collected this year, but are not available soon enough to pay for the current period's expenditures, and therefore are deferred in the funds. Change in Net Assets -Governmental Activities (Page 27) The notes to the financial statements are an integral part of this statement. $ (328,650) 73,714 (113,308) (4,578) (91,106) (2,922) 520,000 9,769 882 $ 63,801 32