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<br />CITY OF REDWOOD CITY, CALIFORNIA <br />RECONCILIA TION OF THE <br />GOVERNMENTAL FUNDS-BALANCE SHEET <br />WITH THE STATEMENT OF ACTIVITIES <br />JUNE 30, 2004 <br /> <br />TOTAL FUND BALANCES -- TOTAL GOVERNMENTAL FUND5 <br /> <br />Amounts reported for Governmental Activities in the Statement c <br />Net Assets are different from those reported in the Governmental Funds above because of the followi <br /> <br />CAPITAL ASSETS <br />Capital assets used in Governmental Activities are not current assets or financial resources and therefore are n <br />reported in the Governmental Funds <br /> <br />ALLOCATION OF INTERNAL SERVICE FUND NET ASSETS <br />Internal service funds are not governmental funds. However, they are used by management to charge the costs of certain activiti <br />such as insurance and central services and maintenance, to individual governmental funds. The assets and liabilities oftl <br />Internal Service Funds are therefore included in Governmental Activities in the Statement of Net Asst <br /> <br />ACCRUAL OF NON-CURRENT REVENUES AND EXPENSE~ <br />Revenues in the statement of activities that do not provide current financial resources are not report <br />as revenues in the funds <br /> <br />LONG TERM ASSETS AND LIABILITIES <br />The assets and liabilities below are not due and payable in the current period and therefore are not reported in the Fun <br />Unamortized bond discounts and issuance cos1 <br />Long-term deb <br />Interest payable <br />Non-current portion of accrued sick leave and vacatio <br /> <br />NET ASSETS OF GOVERNMENTAL ACTIVITIES <br /> <br />See accompanying notes to financial statemen1 <br /> <br />19 <br /> <br />$ <br /> <br />150,528,961 <br /> <br />162,355,990 <br /> <br />12,330,329 <br /> <br />870,760 <br /> <br />1,688,756 <br />(81,669,993) <br />(1,781,153) <br />(5,165,035) <br /> <br />239,158,615 <br />