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CITY OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2013 <br />In addition to liabilities, the statement of financial position will sometimes report a separate section for <br />deferred inflows of resources. This separate financial statement element, deferred inflows of <br />resources, represents an acquisition of net position that applies to a future period(s) and so will not be <br />recognized as an inflow of resources (revenue) until that time. The government has one type of item, <br />which arises only under a modified accrual basis of accounting, that qualifies for reporting in this <br />category. Accordingly, the item, unavailable revenue, is reported only in the governmental fund <br />balance sheet. The governmental funds report unavailable revenues from the following sources: <br />property taxes, special assessments, and tax increment. <br />U. 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 POSITION <br />The governmental fund balance sheet includes a reconciliation between fund balance — total <br />governmental funds and net position —governmental activities as reported in the government -wide <br />statement of net position. 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 ($34,312,398) difference is as follows: <br />Bonds payable <br />($33,120,000) <br />Accrued interest payable <br />(461,460) <br />Unamortized bond discounts <br />2,297 <br />Unamortized bond premium <br />(378,096) <br />Other post -employment benefits <br />(355,139) <br />Net adjustment to reduce fund balance - total <br />governmental funds to arrive at net position - <br />governmental activities. <br />($34,312,398) <br />52 <br />