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IV-16 <br />CITY OF LINO LAKES, MINNESOTA <br />RECONCILIATION OF THE STATEMENT OF REVENUES, <br />EXPENDITURES AND CHANGES IN FUND BALANCE OF <br />GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES <br />For The Year Ended December 31, 2018 <br />Net change in fund balance -total governmental funds (Statement 5) <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 <br />Depreciation <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 <br />Contributions of infrastructure to business-type activities <br />Miscellaneous other differences related to capital assets <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 <br />Change in delinquent special assessments receivable <br />Change in deferred special assessments receivable <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 <br />Bond premium received <br />Repayment of principal <br />Amortization of bond premiums and discounts <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 <br />Change in compensated absences payable <br />Change other post employment benefits liability and related deferred inflows of resources <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 ($353,072) differed from pension contributions ($688,216). <br />Change in net position of governmental activities (Statement 2) <br />The accompanying notes are an integral part of these financial statements. <br />$9,199,079 <br />3,469,208 <br />(2,940,774) <br />1,690,433 <br />(714,515) <br />(12,812) <br />13,930 <br />24,102 <br />(1,364,050) <br />(7,218,900) <br />(401,193) <br />3,130,600 <br />12,898 <br />10,154 <br />(44,964) <br />(6,066) <br />335,144 <br />$5,182,274