Laserfiche WebLink
6.1.F. - Page 53 <br /> CITY OF REDWOOD CITY, CALIFORNIA <br /> RECONCILIATION OF THE <br /> NET CHANGE IN FUND BALANCES-TOTAL GOVERNMENTAL FUNOS <br /> WITH THE STATEMENT OF ACTIVITIES <br /> FOR THE YEAR ENDEp JUNE 30, 2012 <br /> The s[hedule below recancEles the Net Changes in Fund E3alances reported on the Go�ernmental�unds Statement of Revenues,Expenditures and <br /> Changes in Fund 8alance,which measures only changes in current assets and current liabiliYies on the modified accrual basis,with the Change <br /> in Net Assets of Go�ernmental A�ti�ities reported in the Statement of Activities,whfch fs prepared on the full accrual basis. <br /> $ <br /> NET CHANGE IN FUN�BALANCES-TpTAL GOVERNMENTAL FUNDS (11,792,056} <br /> Amounts reported for governmental actiUities in the Statement of Act'�vities are different because of the following: <br /> CAPITAI.ASSETS TRANSACTIONS <br /> Govemmental Funds report capital outlays as expenditures.However,in the 5tatement of Activities the cost of those assets <br /> is�apitalized and allocated over their est'imated useful lives and reported as depreciation expense. <br /> The capital outlay expenditures are therefore added 6ack to fund 6alance. 7,b65,342 <br /> Depreciatioa expense is deducted from the fund balance. <br /> [�epreciation expense is�et of internal servi[e fund depreciat'con af <br /> $],184,383 whtch has already been allocated to serviced funcfs.) (8,066,364) <br /> loss on retirements of capital assets {4Z,314) <br /> LONG TERM DEB7 PROCEEDS AND PAYMENTS <br /> Bond proceeds proUide current financial resources to govemmental funds,6ut issuing debt inueases Ipng-term liabilities in the <br /> Statement of Net Assets. Repayment of bond principal'ss an expenditure in the governmental funds,but in the <br /> Statement of Net Assets the repayment reduces long-term liab8lities. <br /> Repayment of debt principal is added back ko fund balance. 3,275,000 <br /> ACCRUAL OF NON-CURRENT ITEMS <br /> T�e amounts below induded in the Statement of Activities do not provide or{requfre�the use of current financial resaurces and <br /> therefore are not reported as revenue or expenditures in governmental funds(net change): <br /> Change in compensated absentes �143,853) <br /> Change in interest payable 298,945 <br /> Interest ac[reted on capital appreciation debt 598��791J <br /> Amortizatlon of bond premium 18,236 <br /> Amortizatton of issuance costs 148,062] <br /> Interest receivahle and intergovernmental revenue {202,aao) <br /> Change in net OPEB obligation (86,140) <br /> ALLOCATION OF INTERNAL SEi2VICE FUND ACTIVITY <br /> Internal 5enrice Funds are used 6y management to charge the costs of cercain activities,such as equipment acquisition,maintenance, <br /> and insurance to individual funds.The partion of khe net revenue(expense)of these Internal Servl[e Funds arising out <br /> of thefr transactions with governmental funds is reporYed with gavernmental a�tivities,because ihey ser�i[e those acti�ities. <br /> Change in Net Assets All Internal Service Funds (1,675,356) <br /> EXTRAORDINARY ITEM-TRANSF@R OF REDEVELpPMENT AGENCY TO PRIVATE PURPOSE TRUST 23,485,359 <br /> CHANGE IN NET ASSETS OF GOVERNMENTAL ACTIVITIES 11,741,501 <br /> See accompanying notes to financial statements <br /> 25 <br />