|
|
|
Total Fund Balance - Governmental Funds
|
|
$1,491,443
|
|
|
|
Net assets reported for governmental activities in the Statement of Net Assets
|
|
|
are different because:
|
|
|
Capital assets used in governmental activities are not financial resources
|
|
|
and therefore are not reported in the funds. These assets consist of:
|
|
|
Buildings
|
2,538,430
|
|
Equipment
|
1,188,423
|
|
Infrastructure
|
10,893,203
|
|
Other Capital Assets
|
1,284,132
|
|
Accumulated Depreciation
|
(6,435,185)
|
9,469,003
|
|
|
|
Debt issue costs are recorded as expenditures in the funds. However,
|
|
|
these costs are deferred (reported as other assets) and amortized over the
|
|
|
life of the bonds in the Statement of Net Assets.
|
|
26,294
|
|
|
|
Some of the state's revenues will be collected after year-end but are not
|
|
|
available soon enough to pay for the current period's expenditures
|
|
|
and therefore are deferred in the funds.
|
|
408,884
|
|
|
|
Internal service funds are used by management to charge the costs of
|
|
|
certain activities to individual funds. The assets and liabilities of the internal
|
|
|
service funds are included in governmental activities in the Statement of
|
|
|
Net Assets.
|
|
33,393
|
|
|
|
Long-term liabilities are not due and payable in the current period and therefore
|
|
|
are not reported in the funds (Note 16).
|
|
|
|
|
|
Net Pension Obligation
|
(3,256,597)
|
|
Worker's Compensation
|
(265,645)
|
|
Capital Leases
|
(67,988)
|
|
Compensated Absences
|
(342,349)
|
|
Claims and Judgments
|
(7,612)
|
(3,940,191)
|
|
|
|
Long-term bonded debt is not due and payable in the current period and
|
|
|
therefore is not reported in the funds. Unamortized premiums, loss on
|
|
|
refundings, and interest payable are not reported in the funds. However,
|
|
|
these amounts are included in the Statement of Net Assets. This is the net
|
|
|
effect of these balances on the statement (Note 16).
|
|
|
|
|
|
Economic Recovery Note
|
(219,235)
|
|
Bonds Payable
|
(12,422,169)
|
|
Unamortized Premiums
|
(233,093)
|
|
Less: Deferred Loss on Refundings
|
127,974
|
|
Accrued Interest Payable
|
(89,287)
|
(12,835,810)
|
|
|
|
Net Assets of Governmental Activities
|
|
(5,346,984)
|