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CITY OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2021 <br /> <br /> <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 includes <br />a reconciliation between net changes in fund balances – total governmental funds and changes in <br />net position of governmental activities as reported in the government-wide statement of activities. <br />One element of that reconciliation explains that “governmental funds report capital outlays as <br />expenditures. However, in the statement of activities the cost of those assets is allocated over their <br />estimated useful lives and reported as depreciation expense.” The details of this $1,379,459 <br />difference are as follows: <br /> <br />Capital outlay $778,766 <br />Construction/acquisition costs 2,943,077 <br />Capital Outlay not capitalized (156,151) <br />Construction in progress not capitalized (57,048) <br />Depreciation expense (2,129,185) <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. $1,379,459 <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 $44,879 difference are as follows: <br /> <br />Unavailable revenue - general property taxes: <br />At December 31, 2020 ($61,694) <br />At December 31, 2021 55,628 <br />Unavailable revenue - tax increment taxes: <br />At December 31, 2020 (13,371) <br />At December 31, 2021 9,557 <br />Unavailable revenue - special assessments: <br />At December 31, 2020 (1,500,133) <br />At December 31, 2021 1,565,926 <br />Unavailable revenue - intergovernmental: <br />At December 31, 2020 (11,034) <br />At December 31, 2021 - <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. $44,879 <br />53