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CITY OF REDWOOD CITY,CALIFORNIA 6.1.F. - Page 51 <br /> RECONCILIATION OF THE <br /> GOVERNMENTAL FUNDS-BALANCE SHEET <br /> WITH THE STATEMENT OF NET ASSETS <br /> JUNE 30,2012 <br /> S <br /> TOTAL FU N D BALANCES--TOTAL GOVERN M ENTAL FU N DS 91,524,747 <br /> Amounts reported for Governmental Activities in the Statement of <br /> Net Assets are different from those reported in the Governmental Funds above because of the following: <br /> CAPITAL ASSETS <br /> Capital assets used in Governmental Activities are not current assets or financial resources and therefore are not 182,479,120 <br /> reported in the Governmental Funds. <br /> ALLOCATION OF INTERNALSERVICE FUND NETASSETS <br /> Internal service funds are not governmental funds. However,they are used by management to charge the costs of certain activities, <br /> such as insurance and central services and maintenance,to individual governmental funds. The assets and liabilities of the <br /> Internal Service Funds are therefore included in Governmental Activities in the Statement of Net Assets. 18,744,499 <br /> ACCRUAL OF NON-CURRENT REVENUES AND EXPENSES <br /> The amounts below are revenues in the statement of activities that do not provide current financial resources and therefore <br /> are not reported as revenues in the Funds: <br /> Interestrevenue 60,594 <br /> Deferred revenue 604,762 <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 Funds: <br /> Unamortized bond issuance costs 141,270 <br /> Long-term debt (5,881,999) <br /> Interest payable (107,245) <br /> Accrued sickleave and vacation (8,759,508) <br /> Net OPEB obligation (5,916,490) <br /> NET ASSETS OF GOVERNMENTAL ACTIVITIES 272,889,750 <br /> See accompanying notes to financial statements <br /> 23 <br />