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CITY OF REDWOOD CITY,CALIFORNIA 6.1.E. - Page 54 <br /> RECONCILIATION OF THE <br /> GOVERNMENTAL FUNDS-BALANCE SHEET <br /> WITH THE STATEMENT OF NET POSITION <br /> JUNE 30,2015 <br /> $ <br /> TOTAL FUND BALANCES--TOTAL GOVERNMENTAL FUNDS 127,192,409 <br /> Amounts reported for Governmental Activities in the Statement of <br /> Net Position are different from those reported in the Governmental Funds above because of the following: <br /> CAPITAL ASSETS <br /> Capital assets used in Governmental Activities are not current assets or financial resources and therefore are not 177,667,563 <br /> reported in the Governmental Funds. <br /> ALLOCATION OF INTERNAL SERVICE FUND NET POSITION <br /> Internal service funds are not governmental funds. However,they are used by management to charge the costs of certain activities, <br /> such as insurance and central services and maintenance,to individual governmental funds. The assets and liabilities of the <br /> Internal Service Funds are therefore included in Governmental Activities in the Statement of Net Position. 7,847,205 <br /> ACCRUAL OF NON-CURRENT REVENUES AND EXPENSES <br /> The amounts below are revenues in the statement of activities that do not provide current financial resources and therefore <br /> are not reported as revenues in the Funds: <br /> Interest revenue 1,207,810 <br /> LONG TERM ASSETS AND LIABILITIES <br /> The assets and liabilities below are not due and payable in the current period and therefore are not reported in the Funds: <br /> Long-term debt (2,378,400) <br /> Interest payable (16,431) <br /> Accrued sick leave and vacation (9,516,543) <br /> Net OPEB obligation (5,997,462) <br /> Net Pension liability (135,757,604) <br /> DEFERRED OUTFLOWS OF RESOURCES-Deferred employer pension contributions 13,706,671 <br /> DEFERRED INFLOWS OF RESOURCES-Pension (23,702,563) <br /> NET POSITION OF GOVERNMENTAL ACTIVITIES 150,252,655 <br /> See accompanying notes to financial statements <br /> 25 <br />