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CITY OF ST. ANTHONY, MINNESOTA RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS For The Year Ended December 31, 2014 With Comparative Amounts For The Year Ended December 31, 2013 Statement 5 2014 2013 Amounts reported for governmental activities in the statement of activities (statement 2) are different because: Net changes in fund balances - total governmental funds (statement 4) ($456,743) ($901,324) 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. This is the amount by which capital outlays exceeded depreciation in the current period. 1,477,477 45,991 The net effect of various miscellaneous transactions involving capital assets (i.e. sales, trade-ins and donations) is to decrease net position, as follows: (16,729) (58,447) Revenues in the statement of activities that do not provide current financial resources are not reported as revenues in the funds. 21,881 50,767 The issuance of long-term debt (e.g. bonds, leases) provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources of governmental funds. Neither transaction, however, has any effect on net position. This amount is the net effect of these differences in the treatment of long-term debt and related items. 506,667 2,354,911 Some expenses reported in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds. 94,581 90,698 Transfer out of governmental capital assets contributed to Enterprise Funds (497,781) (1,348,238) Internal Service Funds are used by management to charge the cost of severance expense to individual funds. This amount is the net income attributable to governmental activities. 47,745 (54,776) Change in net position of governmental activities (statement 2) $1,177,098 $179,582 The accompanying notes are an integral part of these financial statements. 36