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<br />CITY OF ELK RIVER, MINNESOTA <br />RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, <br />AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS <br />TO THE STATEMENT OF ACTIVITIES <br />YEAR ENDED DECEMBER 31,2005 <br /> <br />NET CHANGE IN FUND BALANCES - TOTAL GOVERNMENTAL FUNDS <br /> <br />Amounts reported for governmental activities in the statement of activities are different because: <br /> <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 <br />which depreciation exceeded capital outlays in the current period. <br /> <br />Capital outlay <br />Depreciation expense <br /> <br />2. The net effect of various miscellaneous transactions involving capital assets <br />including donations and disposals, which increase net assets. <br /> <br />Donations <br />Disposals <br />Depreciation on disposals <br /> <br />3. Revenues in the statement of activities that do not provide current financial <br />resources are not reported as revenues in the governmental funds. <br /> <br />General property taxes <br />Special assessments <br />Notes receivable <br /> <br />4. The issuance of long-term debt provides current financial resources to governmental <br />funds, while the repayment of the principal oflong-term debt consumes the current <br />financial resources of governmental funds. Neither transaction, however, has any <br />effect on net assets. This amount is the net effect of these differences in the <br />treatment of long-term debt and related items. <br /> <br />Issuance of long-term debt <br />Repayment of principal of long-term debt <br /> <br />5. Some expenses reported in the statement of activities do not require use of current <br />financial resources and, therefore, are not reported as expenditures in governmental funds. <br /> <br />Accrued interest payable <br />Compensated absences <br /> <br />CHANGE IN NET ASSETS OF GOVERNMENTAL ACTIVITIES <br /> <br />The notes to the financial statements are an integral part of this statement. <br /> <br />23 <br /> <br />$ 4,586,135 <br />(3,961,479) <br /> <br />3,877,869 <br />(713,352) <br />317,639 <br /> <br />53,545 <br />(924,348) <br />4,382 <br /> <br />(1,715,000) <br />2,174,266 <br /> <br />304 <br />(15,462) <br /> <br />$ 4,377,214 <br /> <br />624,656 <br /> <br />3,482,156 <br /> <br />(866,421) <br /> <br />459,266 <br /> <br />(15,158) <br /> <br />$ 8,061,713 <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 />