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ii <br /> <br /> <br /> <br /> <br /> <br /> <br />i <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />CITY OF ELK RIVER, >\IINNESOTA <br />RECONCILIATION OF THE STATEMENT OF REVENUES, EKPENDITURES, <br />A1STD CHANGES IN FUND BALANCES OF GOVER.NDIENTAL FUNDS <br />TO THE STATEMENT OF ACTIVITIES <br />YEAR ENDED DECEA'IBER 31, 2010 <br />Amounts reported for govermmental activities in the statement of activities are different because: <br />NET CHANGE 1N FUND BALANCES -TOTAL GOVERNMENTAL FUNDS <br />1. 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 depreciation exceeded capital outlays in the current period. <br />Capital outlay <br />Depreciation expense <br />2. The net effect of various miscellaneous transactions involving capital assets <br />including transfers and disposals, which decrease net assets. <br />Transfers of capital assets <br />Disposals <br />Depreciation on disposals <br />3. Revenues in the statement of activities that do not provide current financial <br />resources are not reported as revenues in the governmental funds. <br />Property taxes <br />Special assessments <br />Notes receivable <br />4. The issuance of long-term debt provides current financial resources to governmental <br />funds, while the repayment of the principal of long-term debt consumes the current <br />fmancial resources of governmental funds. Neither transaction, however, has any <br />effect on net assets. This amount is the net effect of these differences in the <br />treatment of long-term debt and related items. <br />Issuance of long-term debt <br />Repayment of principal of long-term debt <br />Payment to escrow agent for refunding <br />Bond premium <br />Issuance costs <br />5. Some expenses reported in the statement of activities do not require use of current <br />financial resources and, therefore, are not reported as expenditures in governmental funds. <br />' Accrued interest payable <br />Amortization of issuance premium <br />Amortization of issuance costs <br />Amortization of deferred charge from refunding <br />' Compensated absences <br />Net OPEB obligation <br />' CHANGE IN NET ASSETS OF GOVERNMENTAL ACTIVITIES <br />The notes to the fmancial statements are an integral part of this statement. <br />$ 1,872,345 <br />(5,287,075) <br />(303,051) <br />(858,399) <br />856,286 <br />(30,101) <br />(581,586) <br />26,835 <br />(6,184,243) <br />2,411,062 <br />6,303,897 <br />(255,238) <br />56,204 <br />52,550 <br />13,346 <br />(2,939) <br />(24,256) <br />(134,673) <br />117 <br />$ 1,334,330 <br />(3,414,730) <br />(305,164) <br />(584,852) <br />2,331,682 <br />(95,855) <br />$ (734,589) <br />' 26 <br />