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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 31,2025 <br /> Total net change in fund balances—governmental funds $ 110,226 <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 of Activities,the <br /> cost of those assets is allocated over their estimated useful lives and reported as depreciation expense. <br /> Capital outlay 2,654,710 <br /> Depreciation expense (2,948,934) <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 (390) <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 compensated absences, <br /> pension liabilities,and OPEB obligations. <br /> Principal payments for debt 353,700 <br /> Total OPEB liability 73,987 <br /> Net pension liability—PERA 369,159 <br /> Compensated absences payable (78,021) <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. 3,375 <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 (1,310,945) <br /> Deferred outflows of resources—OPEB plan deferments (101,525) <br /> Deferred inflows of resources—pension plan deferments—PERA 1,260,396 <br /> Deferred inflows of resources—OPEB plan deferments (26,970) <br /> Deferred inflows of resources—unavailable revenues 45,475 <br /> Change in net position—governmental activities $ 404,243 <br /> See notes to basic financial statements -24- <br />