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CITY OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2014 <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 ($33,711,150) difference is as follows: <br />Bonds payable <br />($32,375,000) <br />Accrued interest payable <br />(418,372) <br />Unamortized bond discounts <br />2,015 <br />Unamortized bond premium <br />(484,365) <br />Other post -employment benefits <br />(435,428) <br />Net adjustment to reduce fund balance - total <br />governmental funds to arrive at net position - <br />governmental activities. ($33,711,150) <br />2. EXPLANATION OF CERTAIN DIFFERENCES BETWEEN THE 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 position of governmental activities as reported in the government -wide statement <br />of 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 $1,477,477 difference is as follows: <br />Capital outlay <br />Construction/acquisition costs <br />Current expenditures capitalized <br />Depreciation expense <br />Net adjustment to increase net changes in fund <br />balances - total governmental funds to arrive at <br />changes in net position of governmental activities. <br />52 <br />$424,622 <br />2,959,264 <br />59,162 <br />(1,965,571) <br />$1,477,477 <br />