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CITY OF ST. ANTHONY, MINNESOTA <br />RECONCILIATION OF THE STATEMENT OF REVENUES,Statement 5 <br />EXPENDITURES AND CHANGES IN FUND BALANCES OF <br />GOVERNMENTAL FUNDS <br />For The Year Ended December 31, 2015 <br />2015 <br />Amounts reported for governmental activities in the <br />statement of activities (statement 2) are different because: <br />Net changes in fund balances - total governmental funds (statement 4) ($1,543,684) <br />Governmental funds report capital outlays as expenditures. However, in the <br />statement of activities the cost of those assets is allocated over their <br />estimated useful lives and reported as depreciation expense. This is the <br />amount by which capital outlays exceeded depreciation in the current period. 2,182,983 <br />The net effect of various miscellaneous transactions involving capital assets <br />(i.e. sales, trade-ins and donations) is to decrease net position, as follows: (50,430) <br />Revenues in the statement of activities that do not provide current financial <br />resources are not reported as revenues in the funds. 87,516 <br />The issuance of long-term debt (e.g. bonds, leases) provides current financial <br />resources to governmental funds, while the repayment of the principal of <br />long-term debt consumes the current financial resources of governmental <br />funds. Neither transaction, however, has any effect on net position. This <br />amount is the net effect of these differences in the treatment of long-term debt <br />and related items.711,892 <br />Some expenses reported in the statement of activities do not require the use of <br />current financial resources and, therefore, are not reported as expenditures in <br />governmental funds.174,406 <br />Transfer out of governmental capital assets contributed to Enterprise Funds. (6,308,128) <br />Internal Service Funds are used by management to charge the cost of severance <br />expense and pension expense to individual funds. This amount is the net income <br />attributable to governmental activities.(39,984) <br />Governmental funds report pension contributions as expenditures, however, <br />pension expense is reported in the Statement of Activities. This is the amount <br />by which the St. Anthony Fire Department Relief Association pension expense <br />exceeded pension contributions: <br />Pension contributions $54,725 <br />Pension expense (59,198) (4,473) <br />Change in net position of governmental activities (statement 2) ($4,789,902) <br />The accompanying notes are an integral part of these financial statements. <br />36