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CITY OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2018 <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 ($32,039,057) difference is as follows: <br /> <br />Bonds payable ($30,885,000) <br />Accrued interest payable (359,408) <br />Unamortized bond premium (794,649) <br />Net adjustment to reduce fund balance - total <br />governmental funds to arrive at net position - <br />governmental activities.($32,039,057) <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 $1,698,333 difference is as follows: <br /> <br />Capital outlay $1,037,417 <br />Construction/acquisition costs 2,720,619 <br />Construction/acquisition costs not capitalized (53,491) <br />Depreciation expense (2,006,212) <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. $1,698,333 <br /> <br />51