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<br />Redevelopment Agency of the City of Redwood City <br />Reconciliation of the Governmental Funds Balance Sheet <br />to the Government-Wide Statement of Net Assets <br />For the year ended June 30, 2005 <br /> <br />Total Fund Balances - Total Governmental Funds <br /> <br />$ <br /> <br />30,369,241 <br /> <br />Amounts reported for governmental activities in the Statement of Net Assets are different because: <br /> <br />Capital assets used in governmental activities are not financial resources and therefore are not <br />reported in governmental funds. <br /> <br />24,860,906 <br /> <br />Governmental funds report bond issuance costs as expenditures. In the statement of activities, <br />however, the cost of issuance is amortized over the life of the bond. <br /> <br />1,338,241 <br /> <br />Interest payable on long-term debt does not require current financial resources. Therefore, interest <br />payable is not reported as a liability in the Governmental Funds Balance Sheet. <br /> <br />(502,080) <br /> <br />Revenues which are deferred on the fund balance sheets because they are not available currently are <br />taken into revenue in the Statement of Activities. <br /> <br />135,099 <br /> <br />Long-term liabilities are not due and payable in the current period and therefore they are not <br />reported in the Governmental Funds Balance Sheet. <br />Long-term liabilities - due withm one year <br />Long-term liabilities - due in more than one year <br /> <br />(1,178,092) <br />(44,854,633) <br /> <br />Net Assets of Governmental Activities <br /> <br />$ <br /> <br />10,168,682 <br /> <br />See accompanying Notes to Basic Financial Statements. <br /> <br />15 <br />