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VADNAIS LAKE AREA WATER MANAGEMENT ORGANIZATION <br />RECONCILIATION OF THE BALANCE SHEET <br />TO THE STATEMENT OF NET POSITION <br />GOVERNMENTAL FUNDS <br />DECEMBER 31, 2013 <br />Total fund balances - governmental <br />Amounts reported for the governmental activities in the statement <br />of net position are different because <br />Capital assets used in governmental activities are not financial <br />resources and therefore are not reported as assets in governmental funds. <br />Cost of capital assets <br />Less: accumulated depreciation <br />Noncurrent liabilities, are not due and payable in the current period <br />and therefore are not reported as liabilities in the funds. <br />Compensated absences payable <br />Some receivables are not available soon enough to pay for the current period's <br />expenditures, and therefore are unavailable in the funds. <br />Special assessments <br />$ 526,607 <br />190,380 <br />(63,640) <br />(22,164) <br />8,215 <br />Total net position - governmental activities $ 639,398 <br />The notes to the financial statements are an integral part of this statement. <br />-29- <br />