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CITY OF ST. ANTHONY, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2011
<br />Note 18 ACCOUNTING CHANGE, IMPLEMENTATION OF GASB 54
<br />The City adopted the provisions of Governmental Accounting Standards Board Statement No. 54, Fund
<br />Balance Reporting and Governmental Fund Type Definitions for the year ended December 31, 2011. Changes
<br />to the reporting of the fund balance of the governmental funds is reflected in the financial statements and
<br />related disclosures in Note 1.0 and Note 12.
<br />The implementation of GASB Statement 54 also resulted in the reclassification of certain funds and the
<br />restatement of the City's financial statements. A summary of these changes are as follows:
<br />Fund balance / net assets -
<br />December 31, 2010, as previously reported
<br />Reclassification of Water Fi Itration and Purification Fund
<br />Fund balarce / net assets -
<br />Jamary 1, 2011, as restated
<br />Note 19 PRIOR PERIOD ADJUSTMENT
<br />Water and
<br />Sewer Businesa-
<br />Gow,raneraal Governmental Enterprise Type
<br />Funds Activities Funds Activities
<br />S 11,705,902 517,165,603 53,528,942 55,651,899
<br />(5,183,068) (5,183,068) 5,183,068 5,183,068
<br />56,522,834 511,982,535 58,712,010 510,834,967
<br />During 2011, corrections to the prior year financial statements were made to correct the amounts recorded as
<br />deposits payable and funds held for others at December 31, 2010. A summary of these changes are as follows:
<br />Fund balance/net assets -
<br />December 31, 2010, as previously reported
<br />Prior period adjustments:
<br />Deposits payable
<br />Funds held by others
<br />Total
<br />Fund balance/net assets -
<br />January 1, 2011, as restated
<br />Note 20 SUBSEOUENT EVENTS
<br />Governmental
<br />Business -Type
<br />Activities
<br />Activities
<br />HRA
<br />Water and
<br />Project
<br />Sewer
<br />$554,377 $8,712,010
<br />28,252
<br />(69,318) -
<br />(69,318) 28,252
<br />$485,059 $8,740,262
<br />The City issued the $9,495,000 G.O. Bonds, Series 2012A on March 27, 2012 to refund the City's 2003 HRA
<br />Lease Revenue Bonds, 2006A Improvement Bonds and 2007A Improvement Bonds and provide new money
<br />for the City's 2012 road construction project.
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