Laserfiche WebLink
HOUSING AND REDEVELOPMENT AUTHORITY <br />OF ELK RIVER, MINNESOTA <br />RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, <br />AND CHANGE IN FUND BALANCE OF GOVERNMENTAL FUND <br />TO THE STATEMENT OF ACTIVITIES <br />FOR THE YEAR ENDED DECEMBER 31, 2015 <br />Amounts reported for governmental activities in the statement of activities are different because <br />Net change in fund balances - housing and redevelopment authority <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 which <br />depreciation expense exceeded capital outlays in the current period. <br />Depreciation expense <br />2. 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 />Long-term pension activity is not reported in governmental funds. <br />Pension expense <br />Change in net position of housing and redevelopment authority <br />-125- <br />121,287 <br />(11,619) <br />(2,242) <br />(8,020) <br />$ 99,406 <br />