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<br />NOTE 10 - NET ASSETS AND FUND BALANCES ( CONTINUED) <br /> <br />c. <br /> <br />Reconciliation of General Fund Fund Balance to Governmental Activities Unrestricted <br />Net Assets <br /> <br />As of June 30, 2004, unrestricted net assets of governmental activities reconciles with the general fund <br />fund balance as follows: <br /> <br />Reconciliation of General Fund Fund Balance <br />to Governmental Activities Unrestricted Net Assets <br /> <br />General Fund Fund Balance <br /> <br />$ 38,871,904 <br /> <br />Add Unrestricted Net Assets of the following funds: <br /> <br />Capital Projects Funds <br />Capital Outlay Fund <br /> <br />12,592,472 <br /> <br />Internal Service Funds <br />Equipment Services <br />Self Insurance <br />Internal Services <br />Employee Benefits <br /> <br />6,319,037 <br />182,411 <br />463,337 <br />480,120 <br /> <br />Add: <br />Accrued Interest Receivable <br />Deferred Revenue <br />Unamortized bond discounts & issuance costs <br /> <br />299,509 <br />571,251 <br />1,688,756 <br /> <br />Deduct: <br />General Reserve <br />Compensated Absences <br />Debt issued for purposes other than capital assets <br />Accrued Interest Payable <br /> <br />Unrestricted Net Assets of Governmental Activities <br /> <br />(250,000) <br />(5,165,035) <br />(27,797,545) <br />(1,781,153) <br /> <br />$ 26,475,064 <br /> <br />Funds not listed in the above reconciliation had no unrestricted net assets <br />at June 30, 2004. <br /> <br />NOTE 11 - FUNDS WITH EXPENDITURES EXCEEDING ApPROPRIATIONS <br /> <br />The budgetary expenditures exceed appropriations in the redevelopment agency fund due to unbudgeted <br />bond issuance costs associated with the issuance of the 2003 tax allocation bonds. <br /> <br />50 <br />