2011 CAFR - Laserfiche WebLink

Home Browse Search

CITY OF ST. ANTHONY, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 2011 2. EXPLANATION OF CERTAIN DIFFERENCES BETWEEN THE GOVERNMENTAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES AND THE GOVERNMENT -WIDE STATEMENT OF ACTIVITIES The governmental fund statement of revenues, expenditures and changes in fund balances includes a reconciliation between net changes in fund balances — total governmental funds and changes in net assets ofgovernmental activities as reported in the government -wide statement of activities. One element of that reconciliation explains that "governmental funds report capital outlays as expenditures. However, in the statement of activities the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense." The details of this $755,975 difference is as follows: Capital outlay $277,224 Construction/acquisition costs 1,953,923 Current expenditures capitalized 1,406 Depreciation expense (1,476,578) Net adjustment to increase net changes in fund balances - total governmental funds to arrive at changes in net assets of governmental activities. $755,975 Another element of that reconciliation states that "revenues in the statement of activities that do not provide current financial resources are not reported as revenues in the funds". The details of this ($28,166) difference is as follows: General property taxes deferred revenue: At December 31, 2010 ($83,316) At December 31, 2011 78,886 Tax increment taxes deferred revenue: At December 31, 2010 (23,981) At December 31, 2011 61,874 Special assessments deferred revenue: At December 31, 2010 (1,759,922) At December 31, 2011 1,698,543 Due from other governmental units: At December 31, 2010 (250) At December 31, 2011 - Net adjustments to decrease net changes in fund balances - total governmental funds to arrive at changes in net assets of governmental activities. ($28,166) 50