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Redevelopment Agency of the City of Redwood City <br /> Reconciliation of the Governmental Funds Balance Sheet <br /> For the year ended June 30, 2007 <br /> Total Fund Balances-Total Governmental Funds $ 14,520,904 <br /> Amounts reported for governmental activities in the Statement of Net Assets are different because: <br /> Capital assets used in governmental activities are not financial resources and therefore are not <br /> reported in governmental funds. 41,404,323 <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. 1,242,652 <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. (453,251) <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 within one year (1,283,092) <br /> Long-term liabilities-due in more than one year (44,849,143) <br /> Net Assets of Governmental Activities $ 10,582,393 <br /> See accompanying Notes to Basic Financial Statements. <br /> 17 <br />