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L. <br />CITY OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2011 <br />S. COMPARATIVE TOTALS <br />The basic financial statements, required supplementary information, combining and individual fund <br />financial statements and schedules and supplementary financial information include certain prior -year <br />summarized comparative information in total but not at the level of detail required for a presentation in <br />conformity with generally accepted accounting principles. Accordingly, such information should be <br />read in conjunction with the City's financial statements for the year ended December 31, 2011, from <br />which the summarized information was derived. <br />T. RECONCILIATION OF GOVERNMENT -WIDE AND FUND FINANCIAL STATEMENTS <br />1. EXPLANATION OF CERTAIN DIFFERENCES BETWEEN THE GOVERNMENTAL FUND <br />BALANCE SHEET AND THE GOVERNMENT -WIDE STATEMENT OF NET ASSETS <br />The governmental fund balance sheet includes a reconciliation between fund balance — total <br />governmental funds and net assets —governmental activities as reported in the government -wide <br />statement of net assets. One element of that reconciliation explains that "long-term liabilities, <br />including bonds payable, are not due and payable in the current period and therefore are not <br />reported in the funds". The details of this ($34,750,964) difference is as follows: <br />Bonds payable ($34,225,000) <br />Accrued interest payable (561,819) <br />Unamortized bond discounts 2,569 <br />Unamortized bond premium (238,599) <br />Deferred charges 480,529 <br />Other post -employment benefits (208,644) <br />Net adjustment to reduce fund balance - total <br />governmental funds to arrive at net assets - <br />governmental activities. ($34,750,964) <br />49 <br />