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i~ <br /> <br /> <br />0 <br />ii <br /> <br /> <br /> <br />n <br /> <br /> <br />7 <br /> <br /> <br /> <br /> <br />fl <br />n <br /> <br />CITY OF ELK RIVER, MINNESOTA <br />RECONCILIATION OF THE GOVERNMENTAL FUNDS <br />BALANCE SHEET TO THE STATEMENT OF NET ASSETS <br />DECEMBER 31, 2010 <br />FUND BALANCE -TOTAL GOVERNMENTAL FUNDS <br />Amounts reported for govermnental activities in the statement of net assets are different because: <br />1. Capital assets used in governmental acti~rities are not current fmancial resources <br />and therefore are not reported in the governmental funds: <br />Governmental capital assets <br />Less accumulated depreciation <br />2. Deferred revenue in governmental funds is susceptible to full accrual on the <br />govermnent-wide statements. <br />3. Long-term liabilities are not payable with current fmancial resources and are <br />therefore not reported in the governmental funds: <br />Bonds payable <br />Unamortized premium, issuance costs and deferred charge from refunding <br />Capital leases <br />Contracts for deeds <br />Accrued interest payable <br />Compensated absences <br />Net OPEB obligation <br />NET ASSETS OF GOVERNMENTAL ACTIVITIES <br />The notes to the fmancial statements are an integral part of this statement. <br />24 <br />$163,419,909 <br />(51,399,421) <br />$ 31,514,713 <br />112,020,488 <br />4,650,926 <br />(26,464,400) <br />251,014 <br />(8,496) <br />(1,491,250) <br />(456,846) <br />(1,198,485) <br />(91,502) (29,459,965) <br />$118,726,162 <br />