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6.1 B - Attachment No. 2 <br /> Redevelopment Agency of the City of Redwood City <br /> Reconciliation of the Governmental Funds Statement of Revenues,Expenditures and Changes <br /> in Fund Balances to the Government Wide Statement of Activities and Changes in Net Assets <br /> For the year ended June 30,2009 <br /> Net Change in Fund Balances-Total Governmental Funds $ 3,805,273 <br /> Amounts reported for governmental activities in the Statement of Activities are different because: <br /> Governmental funds report capital outlay as expenditures. In the statement of activities,however, <br /> the cost of those assets is allocated over their estimated useful lives as depreciation expense. <br /> Capital asset additions 351,079 <br /> Depreciation expense on capital assets was reported in the Government-Wide Statement of <br /> Activities and Changes in Net Assets,but it did not require the use of current financial resources. <br /> Therefore,depreciation expense was not reported as expenditures in governmental funds. (454,928) <br /> Revenues that have not met the revenue recognition criteria in the Fund Financial statements are <br /> recognized as revenue in the Government-Wide Financial Statements. 43,350 <br /> Governmental funds report bond issuance costs as expenditures. In the Government-Wide <br /> statement of Net Assets,however,the cost of issuance is amortized over the life of the bond. This <br /> amount represents the annual amortization of the cost of issuance. (47,794) <br /> Bond proceeds provide current financial resources to governmental funds, but issuing debt <br /> increase long-term liabilities in the statement of net assets. Repayment of bond principal is an <br /> expenditure in the governmental funds, but the repayment reduces long-term liabilities in the <br /> statement of net assets. <br /> Principal repayment 1,312,321 <br /> Amortization of premium 30,771 <br /> Accreted interest on capital appreciation bonds (1,435,971) <br /> Interest expense on long-term debt is reported in the Government-Wide Statement of Activities <br /> and Changes in Net Assets, but they do not require the use of current financial resources. <br /> Therefore, interest expense is not reported as expenditures in governmental funds. This amount <br /> represents the change from prior year. 28,536 <br /> Change in Net Assets of Governmental Activities $ 3,632,637 <br /> See accompanying Notes to Basic Financial Statements. <br /> 19 <br />