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CITY OF LINO LAKES, MINNESOTA <br />RECONCILIATION OF THE STATEMENT OF REVENUES,Statement 6 <br />EXPENDITURES AND CHANGES IN FUND BALANCE OF <br />GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES <br />For The Year Ended December 31, 2019 <br />Net change in fund balance - total governmental funds (Statement 5)($3,031,672) <br />Amounts reported for governmental activities in the Statement of Activities are different because: <br />Governmental funds report capital outlays as expenditures. However, in the Statement <br />of Activities the cost of those assets is allocated over their estimated useful lives and <br />reported as depreciation expense: <br />Capital outlay 7,444,939 <br />Depreciation (2,988,915) <br />Various other transactions involving capital assets increase (decrease) net position on <br />the Statement of Activities, but are not reported in governmental funds because they <br />do not provide (or use) current financial resources: <br />Contributions of infrastructure from private sources 2,845,725 <br />Contributions of infrastructure to business-type activities (1,538,315) <br />Miscellaneous other differences related to capital assets (6,317) <br />Revenues in the Statement of Activities that do not provide current financial resources <br />are not reported as revenues in the funds: <br />Change in delinquent taxes receivable 21,385 <br />Change in delinquent special assessments receivable (1,116) <br />Change in deferred special assessments receivable 1,328,778 <br />The issuance of long-term debt provides current financial resources to governmental <br />funds, while repayment of the principal of long-term debt consumes the current <br />financial resources of governmental funds. Neither transaction, however, has any <br />effect on net position. Also, governmental funds report the effects of bond premiums <br />and discounts when the debt is first issued, whereas amounts are deferred and amortized <br />over the life of the debt in the Statement of Activities. <br />Bonds and notes issued (388,535) <br />Repayment of principal 2,815,075 <br />Amortization of bond premiums and discounts 48,984 <br />Some expenses reported in the Statement of Activities do not require the use of current <br />financial resources and, therefore, are not reported as expenditures in governmental <br />funds. Expenses reported in the Statement of Activities include the effects of the <br />changes in these expense accruals as follows: <br />Change in accrued interest payable 14,900 <br />Change in compensated absences payable 12,690 <br />Change in OPEB liability and related deferred outflows and inflows of resources (26,348) <br />Pension expense in governmental funds is measured by current year employee contributions. <br />Pension expense in the Statement of Activities is measured by the change in the net pension <br />liability and related deferred inflows and outflows of resources. This is the amount by which <br />pension expense ($591,394) differed from pension contributions ($705,763).114,369 <br />Change in net position of governmental activities (Statement 2)$6,665,627 <br />The accompanying notes are an integral part of these financial statements. <br />40