Laserfiche WebLink
CITY OF ELK RIVER, MINNESOTA <br />RECONCILIATION OF THE GOVERNMENTAL FUNDS <br />BALANCE SHEET TO THE STATEMENT OF NET POSITION <br />DECEMBER 31, 2014 <br />FUND BALANCE - TOTAL GOVERNMENTAL FUNDS <br />Amounts reported for governmental activities in the statement of net position <br />are different because: <br />1. Capital assets used in governmental activities are not financial resources <br />and, therefore, are not reported in the governmental funds: <br />$ 395375,862 <br />Governmental capital assets $1825984,052 <br />Less accumulated depreciation (71,361,455) 111,622,597 <br />2. Unavailable revenue in governmental funds is susceptible to full accrual <br />on the government -wide statements. 1,755,450 <br />3. Long -term liabilities are not due and payable in the current period and, <br />therefore, are not reported in the governmental funds: <br />Bonds payable <br />(3457255000) <br />Deferred charge on refunding <br />294,581 <br />Issuance premium <br />(545,528) <br />Contracts for deeds <br />(1,410,000) <br />Accrued interest payable <br />(528,454) <br />Compensated absences <br />(155049686) <br />Net OPEB obligation <br />(317,929) (389737,016) <br />NET POSITION OF GOVERNMENTAL ACTIVITIES $114,016,893 <br />The notes to the financial statements are an integral part of this statement. <br />23 <br />