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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, 2011 <br />With Comparative Amounts For The Year Ended December 31, 2010 <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 />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 />34 <br />Statement 5 <br />2011 2010 <br />$1,851,615 ($1,824,631) <br />755,975 1,284,219 <br />(16,363) (52,652) <br />(28,166) (938,354) <br />(1,184,327) 2,811,523 <br />28,711 89,699 <br />(64,603) (34,067) <br />$1,342,842 $1,335,737 <br />