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CITY OF MOUNDS VIEW <br /> Reconciliation of the Balance Sheet to the <br /> Statement of Net Position <br /> Governmental Funds <br /> December 31,2025 <br /> Total fund balances—governmental funds $ 19,540,832 <br /> Amounts reported for governmental activities in the Statement of Net Position are different because: <br /> Capital assets used in governmental activities are not financial resources and, therefore, are not <br /> reported in governmental funds. <br /> Cost of capital assets 78,235,739 <br /> Less accumulated depreciation (40,694,370) <br /> Long-term liabilities are not payable with current financial resources and,therefore,are not reported <br /> in governmental funds. <br /> G.O.bonds payable (4,270,000) <br /> Total OPEB liability (1,518,523) <br /> Net pension liability—PERA (2,550,315) <br /> Compensated absences payable (811,279) <br /> Interest on long-term debt is included in the change in net position as it accrues,regardless of when <br /> payment is due.However,it is included in the change in fund balances when due. (49,321) <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 2,625,660 <br /> Deferred outflows of resources—OPEB plan deferments 881,047 <br /> Deferred inflows of resources—pension plan deferments—PERA (3,814,316) <br /> Deferred inflows of resources—OPEB plan deferments (132,098) <br /> Deferred inflows of resources—unavailable revenues 266,276 <br /> Total net position—governmental activities $ 47,709,332 <br /> See notes to basic financial statements -21- <br />