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CITY OF ST. ANTHONY, MINNESOTA <br />RECONCILIATION OF THE STATEMENT OF REVENUES,Statement 5 <br />EXPENDITURES AND CHANGES IN FUND BALANCES OF <br />GOVERNMENTAL FUNDS <br />For The Year Ended December 31, 2022 <br />With Comparative Amounts For The Year Ended December 31, 2021 <br />2022 2021 <br />Amounts reported for governmental activities in the <br />statement of activities (Statement 2) are different because: <br />Net changes in fund balances - total governmental funds (Statement 4) $443,022 $731,381 <br />Governmental funds report capital outlays as expenditures. However, in the <br />statement of activities the cost of those assets is allocated over their <br />estimated useful lives and reported as depreciation expense. This is the <br />amount by which capitalized capital outlays exceeded depreciation in the current period. 1,356,696 1,379,459 <br />Transfer out of governmental capital assets contributed to Enterprise Funds. (1,156,331) (1,387,269) <br />The statement of activities reports losses arising from the trade-in or disposal of <br />existing capital assets to acquire new capital assets. Conversely, governmental <br />funds do not report any gain or loss on a trade-in of capital assets. (630,861) (23,242) <br />Revenues in the statement of activities that do not provide current financial <br />resources are not reported as revenues in the funds. 143,860 44,879 <br />The issuance of long-term debt (e.g. bonds, leases) provides current financial <br />resources to governmental funds, while the repayment of the principal of <br />long-term debt consumes the current financial resources of governmental <br />funds. Neither transaction, however, has any effect on net position. This <br />amount is the net effect of these differences in the treatment of long-term debt <br />and related items.887,438 1,095,769 <br />Internal Service Funds are used by management to charge the cost of severance <br />pension, and other post employment expenses to individual funds. This amount is the <br />net income attributable to governmental activities. (204,201) 910,328 <br />Governmental funds report pension contributions as expenditures, however, <br />pension expense is reported in the statement of activities. This is the amount <br />by which pension expense differed from pension contributions for the St. Anthony <br />Fire Department pension plan (Note 8). 60,712 113,678 <br />Change in net position of governmental activities (Statement 2) $900,335 $2,864,983 <br />The accompanying notes are an integral part of these financial statements. <br />38