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101 <br />FUND BALANCE - HOUSING AND REDEVELOPMENT AUTHORITY 2,090,964$ <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 current financial <br />resources and therefore are not reported in the governmental funds: <br /> Land 257,100$ <br /> Other Improvements 174,290 <br /> Total Capital Assets 431,390 <br /> Less accumulated depreciation (59,065)372,325 <br />2.Unavailable revenue in governmental funds is susceptible to full accrual <br />on the government-wide statements.2,479 <br />3.Long-term liabilities are not due and payable in the current period and <br />therefore not reported in the governmental funds: <br /> Net pension liability (60,586) <br />4.Governmental funds do not report long-term amounts related to pensions. <br /> Deferred outflows of pension resources 16,528 <br /> Deferred inflows of pension resources (14,916)1,612 <br />NET POSITION OF HOUSING AND REDEVELOPMENT AUTHORITY 2,406,794$ <br />CITY OF ELK RIVER, MINNESOTA <br />DECEMBER 31, 2017 <br />HOUSING AND REDEVELOPMENT AUTHORITY <br />RECONCILIATION OF THE GOVERNMENTAL FUND <br />BALANCE SHEET TO THE STATEMENT OF NET POSITION