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HOUSING AND REDEVELOPMENT AUTHORITY <br /> OF ELK RIVER,MINNESOTA <br /> RECONCILIATION OF THE GOVERNMENTAL FUND <br /> BALANCE SHEET TO THE STATEMENT OF NET POSITION <br /> DECEMBER 31,2012 <br /> FUND BALANCE-TOTAL GOVERNMENTAL FUNDS $ 1,498,277 <br /> Amounts reported for governmental activities in the statement of net position are different because: <br /> 1. Capital assets used in governmental activities are not current financial resources <br /> and therefore are not reported in the governmental funds: <br /> Governmental capital assets 431,390 <br /> Less accumulated depreciation (968) 430,422 <br /> 2. Unavailable revenue in govermmental funds is susceptible to frill accrual on the <br /> government-wide statements. 10,572 <br /> NET POSITION OF GOVERNMENTAL ACTIVITIES $ 1,939,271 <br /> 84 <br />