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CITY OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2019 <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 ($449,590) difference are as follows: <br /> <br />Unavailable revenue - general property taxes: <br />At December 31, 2018 ($55,444) <br />At December 31, 2019 48,003 <br />Unavailable revenue - tax increment taxes: <br />At December 31, 2018 (46,028) <br />At December 31, 2019 12,706 <br />Unavailable revenue - special assessments: <br />At December 31, 2018 (1,876,371) <br />At December 31, 2019 1,492,544 <br />Unavailable revenue - intergovernmental: <br />At December 31, 2018 (25,000) <br />At December 31, 2019 - <br />Net adjustments to increase net changes in fund <br />balances - total governmental funds to arrive at <br />changes in net position of governmental activities. ($449,590) <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 $2,204,084 <br />difference are as follows: <br /> <br />Debt issued or incurred: <br />Issuance of general obligation bonds ($2,480,000) <br />Premium on issued bonds (225,916) <br />Principal repayments 4,910,000 <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.$2,204,084 <br /> <br />52