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7.1.G. - Page 53 CITY OF REDWOOD CITY, CALIFORNIA <br /> RECONCILIATION OF THE <br /> GOVERNMENTAL FUNDS - BALANCE SHEET <br /> WITH THE STATEMENT OF NET POSITION <br /> JUNE 30, 2013 <br /> S <br /> TOTAL FUND BALANCES -- TOTAL GOVERNMENTAL FUNDS 96,035,664 <br /> Amounts reported for Governmental Activities in the Statement of <br /> Net Position 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 185,192,474 <br /> reported in the Governmental Funds. <br /> ALLOCATION OF INTERNAL SERVICE FUND NET POSITION <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 Position. 18,140,294 <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 /> Interest revenue 41,855 <br /> Deferred revenue 694,704 <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 57,645 <br /> Long -term debt (3,360,000) <br /> Interest payable (95,208) <br /> Accrued sick leave and vacation (8,547,142) <br /> Net OPEB obligation (5,997,462) <br /> NET POSITION OF GOVERNMENTAL ACTIVITIES 282,162,824 <br /> 25 <br />