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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, 2023 <br />With Comparative Amounts For The Year Ended December 31, 2021 <br />2023 2022 <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)$1,603,186 $443,022 <br />Governmental funds report capital outlays as expenditures. However, in the <br />statement of activities the cost of those assets is allocated over their estimated <br />useful lives and reported as depreciation expense. This is the amount by <br />which capitalized capital outlays exceeded depreciation in the current period.(358,974) 1,356,696 <br />Transfer out of governmental capital assets contributed to Enterprise Funds.(1,416,930) (1,156,331) <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) <br />Revenues in the statement of activities that do not provide current financial <br />resources are not reported as revenues in the funds.(314,830) 143,860 <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.3,369,626 887,438 <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 (loss) attributable to governmental activities.(410,275) (204,201) <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).12,000 60,712 <br />Change in net position of governmental activities (Statement 2)$2,483,803 $900,335 <br />The accompanying notes are an integral part of these financial statements. <br />38