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CITY OF ST. ANTHONY, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 2020 2. EXPLANATION OF CERTAIN DIFFERENCES BETWEEN THE GOVERNMENTAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES AND THE GOVERNMENT-WIDE STATEMENT OF ACTIVITIES The governmental fund statement of revenues, expenditures and changes in fund balances includes a reconciliation between net changes in fund balances – total governmental funds and changes in net position of governmental activities as reported in the government-wide statement of activities. One element of that reconciliation explains that “governmental funds report capital outlays as expenditures. However, in the statement of activities the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense.” The details of this $845,932 difference are as follows: Capital outlay $533,874 Construction/acquisition costs 2,485,227 Current expenditures capitalized 3,187 Depreciation expense (2,176,356) Net adjustment to increase net changes in fund balances - total governmental funds to arrive at changes in net position of governmental activities.$845,932 Another element of that reconciliation states that “revenues in the statement of activities that do not provide current financial resources are not reported as revenues in the funds”. The details of this $32,979 difference are as follows: Unavailable revenue - general property taxes: At December 31, 2019 ($48,004) At December 31, 2020 61,694 Unavailable revenue - tax increment taxes: At December 31, 2019 (12,706) At December 31, 2020 13,371 Unavailable revenue - special assessments: At December 31, 2019 (1,492,544) At December 31, 2020 1,500,133 Unavailable revenue - intergovernmental: At December 31, 2019 - At December 31, 2020 11,035 Net adjustments to increase net changes in fund balances - total governmental funds to arrive at changes in net position of governmental activities.$32,979 51