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CITY OF ELK RIVER, MINNESOTA <br />RECONCILIATION OF THE GOVERNMENTAL FUNDS <br />BALANCE SHEET TO THE STATEMENT OF NET POSITION <br />DECEMBER 31, 2018 <br />FUND BALANCE - TOTAL GOVERNMENTAL FUNDS $ 30,777,279 <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 />Governmental capital assets $176,820,497 <br />Less accumulated depreciation (82,245,947) 94,574,550 <br />2. Long-term assets for pensions reported in governmental activities are not <br />financial resources and therefore are not reported as assets in the funds. 1,146,722 <br />3. Unavailable revenue in governmental funds is susceptible to full accrual <br />on the government -wide statements. 1,691,963 <br />4. 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 />(17,280,000) <br />Deferred charge on refunding <br />149,521 <br />Issuance premium <br />(352,016) <br />Accrued interest payable <br />(184,755) <br />Compensated absences <br />(1,579,967) <br />Net pension liability <br />(7,477,029) <br />Net OPEB liability <br />(813,033) (27,537,279) <br />5. Governmental funds do not report long-term amounts related to pensions. <br />Deferred outflows of pension resources 6,108,495 <br />Deferred inflows of pension resources (7,784,239) (1,675,744) <br />6. Governmental funds do not report long-term amounts related to other <br />postemployment benefits. <br />Deferred outflows of other postemployment benefits resources 36,068 <br />NET POSITION OF GOVERNMENTAL ACTIVITIES $ 99,013,559 <br />The notes to the financial statements are an integral part of this statement. <br />23 <br />