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CITY OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31.2009 <br />2. EXPLANATION OF CERTAIN DIFFERENCES BETWEEN TIIE GOVERNMENTAL FUND <br />STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES <br />AND THE GOVERNMENT -WIDE STATEMENT OF ACTIVITIES <br />The governmental fund statement of revenues, expenditures and changes in fund balances <br />includes a reconciliation between net changes in fund balances — total governmental funds and <br />changes in net assets ofgovenvnental activities as reported in the government -wide statement of <br />activities. One element of that reconciliation explains that "governmental funds report capital <br />outlays as expenditures. However, in the statement of activities the cost of those assets is <br />allocated over their estimated useful lives and reported as depreciation expense." The details of <br />this $3,713,296 difference is as follows: <br />Capital outlay $271,459 <br />Construction/acquisition costs 4,789,180 <br />Depreciation expense (1,347,343) <br />Net adjustment to increase net changes in fund <br />balances - total governmental funds to arrive at <br />changes in net assets of governmental activities. $3,713,296 <br />Another element of that reconciliation states that "revenues in the statement of activities that do <br />not provide current financial resources are not reported as revenues in the funds" The details of <br />this $532,289 difference is as follows: <br />ocneral property taxes defeated revenue <br />At December 31, 2008 <br />($84,465) <br />At December 31, 2009 <br />119,952 <br />Fax increment taxes delened revenue: <br />At December 31, 2008 <br />(79,407) <br />At Decctnber 31, 2009 <br />128,271 <br />Loan receivable (from developers) deferred revenue: <br />228,314 <br />At December 31, 2008 <br />(2,500,000) <br />At December 31, 2009 <br />2,500,000 <br />Special assessments deferred revenue: <br />8532,289 <br />At December 3l, 2008 <br />(1,737.976) <br />At December31, 2009 <br />1,934,555 <br />Due from other governmental units. <br />At December 31, 2009 <br />23,045 <br />Due from developers defennd Ieve lit) e: <br />At December 31, 2009 <br />228,314 <br />Net adjustments to increase net changes in fund <br />balances - total governmental funds to arrive at <br />changes in net assets of governmental activities. <br />8532,289 <br />49 <br />