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<br />Redevelopment Agency of the City of Redwood City <br />Reconciliation of the Governmental Funds Balance Sheet <br />For the year ended June 30, 2008 <br /> <br />Total Fund Balances - Total Governmental Funds <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 />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 />revenues were earned but funds were not available are reclassified as revenues in the Government- <br />Wide Financial Statements, <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 />;c'i. <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 within one year <br />Long-term liabilities - due in more than one year <br /> <br />Net Assets of Governmental Activities <br /> <br />See accompanying Notes to Basic F:i1.'l,ancial Statements. <br /> <br />17 <br /> <br />$ <br /> <br />17,077,315 <br /> <br />20,493,211 <br /> <br />1,194,858 <br /> <br />276,048 <br /> <br />(426,340) <br /> <br />(1,343,092) <br />(44,866,639) <br /> <br />$ <br /> <br />(J ,594,639) <br />