Net Change in Fund Balances - Total Governmental Funds |
|
$607,357 |
|
|
|
Amounts reported for governmental activities in the Statement of Activities |
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are different because: |
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Bond proceeds provide current financial resources to governmental funds. However, |
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issuing debt increases long term-liabilities in the Statement of Net Assets. Bond |
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proceeds were received this year from: |
|
|
Bonds Issued |
(1,362,145) |
|
Refunding Bonds Issued |
(61,020) |
|
Premium on Bonds Issued |
(55,244) |
(1,478,409) |
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Repayment of long-term debt is an expenditure in the governmental funds, but the |
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repayment reduces long-term liabilities in the Statement of Net Assets. Long-term debt |
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repayments this year consisted of: |
|
|
Principal Retirement |
1,102,770 |
|
Payments to Refunded Bond Escrow Agent |
65,473 |
|
Capital Lease Payments |
16,464 |
1,184,707 |
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|
|
|
|
|
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Capital outlays are reported as expenditures in the governmental funds. However, in the |
|
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Statement of Activities the cost of those assets is allocated over their estimated useful |
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lives and reported as depreciation expense. In the current period, these amounts and |
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other reductions were as follows: |
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|
Capital Outlays |
794,362 |
|
Depreciation Expense |
(655,424) |
|
Retirements |
(35,532) |
103,406 |
|
|
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Inventories are reported as expenditures in the governmental funds when purchased. |
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However, in the Statement of Activities the cost of these assets is recognized when those |
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assets are consumed. This is the amount by which purchases exceeded consumption of |
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|
inventories. |
|
8,842 |
|
|
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Some expenses reported in the Statement of Activities do not require the use of current |
|
|
financial resources and therefore are not reported as expenditures in governmental |
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|
funds. These activities consist of: |
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|
Increase in Accrued Interest |
(3,911) |
|
Decrease in Interest Accreted on Capital Appreciation Debt |
35,813 |
|
Amortization of Bond Premium |
41,794 |
|
Amortization of Loss on Debt Refundings |
(28,461) |
|
Increase in Compensated Absences Liability |
(56,355) |
|
Increase in Workers Compensation Liability |
(45,718) |
|
Increase in Claims and Judgments Liability |
(11,809) |
|
Increase in Net Pension Obligation |
(100,832) |
(169,479) |
|
|
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Because some revenues will not be collected for several months after the state's fiscal |
|
|
year ends, they are not considered "available" revenues and are deferred in the |
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governmental funds. Deferred revenues increased by this amount this year. |
|
30,345 |
|
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Internal service funds are used by management to charge the costs of certain activities, |
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such as insurance and telecommunications, to individual funds. The net revenue |
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|
(expense) of internal service funds is reported with the governmental activities. |
|
3,962 |
|
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Debt issue costs are recorded as expenditures in the governmental funds. However, |
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these costs are amortized over the life of the bonds in the Statement of Activities. |
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In the current year, these amounts are: |
|
|
Debt Issue Costs Payments |
9,718 |
|
Amortization of Debt Issue Costs |
(4,298) |
5,420 |
Change in Net Assets of Governmental Activities |
|
$296,151 |