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CITY OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2016 <br /> <br /> <br /> <br /> <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 ($204,142) difference is as follows: <br /> <br />Unavailable revenue - general property taxes: <br />At December 31, 2015 ($91,306) <br />At December 31, 2016 90,425 <br />Unavailable revenue - tax increment taxes: <br />At December 31, 2015 (69,656) <br />At December 31, 2016 48,470 <br />Unavailable revenue - special assessments: <br />At December 31, 2015 (1,864,688) <br />At December 31, 2016 1,682,613 <br />Net adjustments to decrease net changes in fund <br />balances - total governmental funds to arrive at <br />changes in net position of governmental activities. ($204,142) <br /> <br />Another element of that reconciliation states that “the issuance of long-term debt (e.g. bonds, <br />leases) provides current financial resources to governmental funds, while the repayment of <br />principal of the long-term debt consumes the current financial resources of governmental funds”. <br />Neither transaction, however, has any effect on net position. The details of this ($404,358) <br />difference is as follows: <br /> <br />Debt issued or incurred: <br />Issuance of general obligation bonds ($2,900,000) <br />Premium on issued bonds (69,485) <br />Principal repayments 2,620,000 <br />Other post employment benefits (54,873) <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. ($404,358) <br /> <br />Another element of that reconciliation states that “some expenses reported in the statement of <br />activities do not require the use of current financial resources and, therefore, are not reported as <br />expenditures in governmental funds”. The details of this $26,023 difference is as follows: <br /> <br />Amortization of premiums, discounts $67,340 <br />Accrued interest (41,317) <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. $26,023 <br /> <br />51