Laserfiche WebLink
CITY OF ST. ANTHONY, MINNESOTA <br />RECONCILIATION OF THE STATEMENT OF REVENUES, <br />EXPENDITURES AND CHANGES IN FUND BALANCES OF <br />GOVERNMENTALFUNDS <br />For The Year Ended December 31, 2008 <br />Amounts reported for governmental activities in the <br />statement of activities (statement 2) are different because: <br />Net changes in fund balances - total governmental funds (statement 4) <br />Governmental funds report capital outlays as expenditures. However, in the <br />statement of activities the cost of those assets is allocated over their <br />estimated useful lives and reported as depreciation expense. This is the <br />amount by which capital outlays exceeded depreciation in the current period. <br />The net effect of various miscellaneous transactions involving capital assets <br />(i.e., sales, trade-ins and donations) is to decrease net assets, as follows: <br />Book value of disposals <br />Revenues in the statement of activities that do not provide current financial <br />resources are not reported as revenues in the funds. <br />The issuance of long-term debt (e.g., bonds, leases) provides current financial <br />resources to governmental funds, while the repayment of the principal of <br />long-term debt consumes the current financial resources of governmental <br />funds. Neither transaction, however, has any effect on net assets. This <br />amount is the net effect of these differences in the treatment of long-term debt <br />and related items. <br />Some expenses reported in the statement of activities do not require the use of <br />current financial resources and, therefore, are not reported as expenditures in <br />governmental funds. <br />Transfer in of Enterprise Fund capital assets to governmental activities. <br />Transfer out of governmental activities to Enterprise Fund capital assets. <br />Internal Service Funds are used by management to charge the cost of severance <br />expense to individual funds. This amount is the net income attributable to <br />governmental activities. <br />Change in net assets of governmental activities (statement 2) <br />Statement 5 <br />2008 2007 <br />($320,989) ($1,782,343) <br />2,737,320 4,321,970 <br />(24,007) (11,059) <br />(185,873) (657,420) <br />386,251 (4,286,224) <br />(67,909) (118,540) <br />133,052 <br />(2,139,827) <br />(70,629) (39,585) <br />$314,337 ($2,440,149) <br />The accompanying notes are an integral part of these financial statements. <br />36 <br />