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<br />NOTE 10 - NET ASSETS AND FuND BALANCES (CONTINUED)
<br />
<br />Fund balances unreserved/designated at June 30, 2005 are as follow:
<br />
<br />Schedule of Designated Fund Balances
<br /> Capital Redevelopment Other
<br /> General Outlay Agency Governmental
<br /> Fund Fund Fund Funds
<br />Umeserved and designated for: $ $ $ $
<br />Subsequent years' expenditures 17,971,626 3,855,171
<br />Capital projects 10,674,913 24,428,717 5,011,205 17,856,429
<br />Street projects 3,791,572
<br />Sandpiper Park 1,887,386
<br />Library bequest 56,233
<br />PAL loan guarantee 1,500,000
<br />Umealized gain 88,195
<br />Total unreserved and designated fund balance 34,381,730 25,928,717 5,011,205 21,799,795
<br />
<br />c.
<br />
<br />Reconciliation of General Fund Fund Balance to Governmental Activities Unrestricted
<br />Net Assets
<br />
<br />As of June 30, 2005, unrestricted net assets of governmental activities reconciles with the general fund
<br />fund balance as follows:
<br />
<br />Reconciliation of General Fund Fund Balance
<br />to Governmental Activities Umestricted Net Assets
<br />
<br />General Fund Fund Balance
<br />Add Unrestricted Net Assets of the following funds:
<br />
<br />$ 38,596,793
<br />
<br />Capital Projects Funds
<br />Capital Outlay Fund
<br />
<br />Internal Service Funds
<br />Equipment Services
<br />Self Insurance
<br />Internal Services
<br />Employee Benefits
<br />
<br />13,634,373
<br />
<br />5,871,820
<br />(1,531,358)
<br />272,466
<br />459,820
<br />
<br />Add:
<br />Accrued Interest Receivable
<br />Deferred Revenue
<br />Unamortized bond discounts & issuance costs
<br />
<br />258,238
<br />67,735
<br />1,620,780
<br />
<br />Deduct:
<br />General Reserve
<br />Compensated Absences
<br />Debt issued for purposes other than capital assets
<br />
<br />Umestricted Net Assets of Governmental Activities
<br />
<br />(250,000)
<br />(5,437,386)
<br />(23,753,560)
<br />$ 29,809,721
<br />
<br />Funds not listed in the above reconciliation had no unrestricted net assets
<br />at June 30, 2005.
<br />
<br />D.
<br />
<br />Deficit Fund Equity/Net Assets
<br />
<br />The self-insurance internal service fund had a deficit net assets balance of $1 ,531 ,358 due to an unfunded
<br />increase in workers' compensation claim liabilities.
<br />
<br />54
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