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CITY OF MOUNDS VIEW <br />Reconciliation of the Statement of <br />Revenues, Expenditures, and Changes in Fund Balances <br />to the Statement of Activities <br />Governmental Funds <br />Year Ended December 31, 2023 <br />Total net change in fund balances — governmental funds <br />Amounts reported for governmental activities in the Statement of Activities are different because: <br />$ (859,045) <br />Governmental funds report capital outlays as expenditures. However, in the Statement of Activities, the <br />cost of those assets is allocated over their estimated useful lives and reported as depreciation expense. <br />Capital outlay 2,674,108 <br />Depreciation expense (2,821,603) <br />A gain or loss on the disposal of capital assets, including the difference between the carrying value and <br />any related sale proceeds, is included in the change in net position. However, only the sale proceeds are <br />included in the change in fund balance. <br />Net book value of capital assets disposed (133,617) <br />The issuance of long-term debt provides current financial resources to governmental funds, while <br />principal repayment of long-term debt consumes the current financial resources of governmental funds. <br />Neither transaction, however, has any affect on net position. Other long-term adjustments are also <br />made between the governmental funds and the Statement of Activities for debt premiums, compensated <br />absences, pension liabilities, and OPEB obligations. <br />Principal payments for debt <br />370,475 <br />Total OPEB liability <br />(183,989) <br />Net pension liability — PERA <br />5,878,518 <br />Compensated absences payable <br />(1,921) <br />Interest on long-term debt in the Statement of Activities differs from the amount reported in the <br />governmental funds because interest is recognized as an expenditure in the funds when it is due, and <br />thus requires the use of current financial resources. In the Statement of Activities, however, interest <br />expense is recognized as the interest accrues, regardless of when it is due. 3,187 <br />The recognition of certain revenues and expenses/expenditures differ between the full accrual <br />governmental activities financial statements and the modified accrual governmental fund financial <br />statements. <br />Deferred outflows of resources — pension plan deferments — PERA (1,294,635) <br />Deferred outflows of resources — OPEB plan deferments 330,419 <br />Deferred inflows of resources — pension plan deferments — PERA (5,143,375) <br />Deferred inflows of resources — OPEB plan deferments (120,147) <br />Deferred inflows of resources — unavailable revenues 70,104 <br />Change in net position — governmental activities $ (1,231,521) <br />See notes to basic financial statements -24- <br />