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Re 6.1.B_- Page 173 gency of the City of Redwood City <br /> ReconciliaHon of the Governmental Funds Balance Sheet <br /> For the year ended June 30, 2011 <br /> Total Fund Balances - Total Governmental Funds `� 18,267,826 <br /> Amounts reported for government�il �ctivities in the St�itement of Net Assets u�e difterent because: <br /> Capital assets used in government�al activities �u�e not financial resources u1d therefore are not <br /> reported in � ovei7lmental tunds. 16,369,597 <br /> Governinent�l tunds re�ort bond issu�nce costs �s expenditures. In the stateinent of �ctivities, <br /> however, the cost of issuance is �unortized over the life of the bond. 1,051,�76 <br /> Deferred revenue re�orded in the Fund Fin�inci�ll ste�tements resulting h�om <lctivities in which <br /> revenues were earned l�ut funds were not ��v��il�il�le �u�e reclassified as revenue5 in the Government- <br /> Wide Financi�ll Stateinents. '7(,�,�1p <br /> Interest payalile on lon� terin debt does not require current finan��i�ll resources. Therefore, interest <br /> payatile is not reported as a li�lbilitv in the Governinent�l Funds B�l�nce Sheet (280,308) <br /> Long-term liabilities are not due and payable in the cuirent period �lnd therefore they �re not <br /> iepurted in the Goveriunent��l Funds B�1 ulce Sheet. <br /> Lonb term lialiilities - due witlun one ye�u� (1,338,092) <br /> Long-teim liabilities - due in moie than one ye�r (�?,513,�23) <br /> Net Assets of Governmental Activities $ (7,678,51�) <br /> See accomp�ulynlg Notes to Basic Fnlanci�l Statements. <br /> 17 <br />