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<br />CITY OF ELK RIVER, MINNESOTA <br />RECONCILIA TION OF THE GOVERNMENTAL FUNDS <br />BALANCE SHEET TO THE STATEMENT OF NET ASSETS <br />DECEMBER 31, 2005 <br /> <br />FUNDBALANCE-TOTALGOVERNMENTALFUNDS <br /> <br />Amounts reported for governmental activities in the statement of net assets are different because: <br /> <br />1. Capital assets used in governmental activities are not current financial resources <br />and therefore are not reported in the governmental funds: <br /> <br />Governmental capital assets <br />Less accumulated depreciation <br /> <br />2. Deferred revenue in governmental funds is susceptible to full accrual on the <br />government-wide statements. <br /> <br />3. Long-term liabilities are not payable with current financial resources and are <br />therefore not reported in the governmental funds: <br /> <br />Bonds payable <br />Accrued interest payable <br />Compensated absences <br /> <br />NET ASSETS OF GOVERNMENTAL ACTIVITIES <br /> <br />The notes to the [mancial statements are an integral part of this statement. <br /> <br />21 <br /> <br />$121,749,380 <br />(29,594,138) <br /> <br />(19,977,701) <br />(345,245) <br />(481,096) <br /> <br />$ 29,912,904 <br /> <br />92,155,242 <br /> <br />5,564,541 <br /> <br />(20,804,042) <br /> <br />$106,828,645 <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br />