Laserfiche WebLink
CITY OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2017 <br /> <br /> <br /> <br /> <br /> <br />V. RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS <br /> <br />1. EXPLANATION OF CERTAIN DIFFERENCES BETWEEN THE GOVERNMENTAL FUND <br />BALANCE SHEET AND THE GOVERNMENT-WIDE STATEMENT OF NET POSITION <br /> <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 ($32,943,025) difference is as follows: <br /> <br />Bonds payable ($31,170,000) <br />Accrued interest payable (360,108) <br />Unamortized bond premium (793,291) <br />Other post-employment benefits (619,626) <br />Net adjustment to reduce fund balance - total <br />governmental funds to arrive at net position - <br />governmental activities.($32,943,025) <br /> <br /> <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 /> <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 $7,813,363 difference is as follows: <br /> <br />Capital outlay $431,511 <br />Construction/acquisition costs 9,908,037 <br />Construction/acquisition costs not capitalized (525,865) <br />Depreciation expense (2,000,320) <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. $7,813,363 <br /> <br />49