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VADNAIS LAKE AREA WATER MANAGEMENT ORGANIZATION <br />RECONCILIATION OF THE BALANCE SHEET TO THE STATEMENT OF NET POSITION <br />DECEMBER 31, 2018 <br />Amounts reported for the governmental activities in the statement of net position are <br />different because: <br />Total Fund Balances - Govemmental $ 607,317 <br />Capital assets used in governmental activities are not financial resources <br />and therefore are not reported as assets in govemmental funds. <br />Cost of Capital Assets 636,318 <br />Less: Accumulated Depreciation (135,473) <br />Noncurrent liabilities are not due and payable in the current period and <br />therefore are not reported as liabilities in the funds. <br />Compensated Absences Payable (44,001) <br />Pension Liability (238,546) <br />Some receivables are not available soon enough to pay for the current periods <br />expenditures, and therefore are unavailable in the funds. <br />Special Assessments 6,219 <br />Govemmental funds do not report long-term amounts related to pensions. <br />Deferred Outflows of Pension Resources 59,386 <br />Deferred Inflows of Pension Resources (81,098) <br />Total Net Position - Govemmental Activities $ 810,122 <br />See accompanying Notes to Financial Statements. <br />(16) <br />