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CITY OF LA PORTE <br />RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, <br /> AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE <br /> STATEMENT OF ACTIVITIES <br />For the Year Ended September 30, 2014 <br />Net change in fund balances - total governmental funds: <br />$ 1,748,926 <br />Amounts reported for Governmental Activities in the Statement of Activities are different <br />because: <br />Governmental funds report outlays for capital assets as expenditures because such outlays <br />use current financial resources. In contrast, the Statement of Activities reports only a <br />portion of the outlay as expense. The outlay is allocated over the assets' estimated useful <br />lives as depreciation expense for the period. <br />This is the amount by which capital outlays $5,424,007 exceeded depreciation $3,907,042 <br />in the current period. <br /> 1,516,965 <br />Governmental funds report the entire net sales price (proceeds) from the sale of an asset as <br />revenue because it provides current financial resources. In contrast, the Statement of <br />Activities reports only the gain on the sale of assets. Thus, the change in net assets differs <br />from the change in fund balance by the book value of the assets sold and disposed. <br />(672,340) <br />Governmental funds do not present revenues that are not available to pay current <br />obligations. In contrast, such revenues are reported in the Statement of Activities when <br />earned. <br />82,534 <br />Repayment of bond principal is an expenditure in the governmental fund, but the repayment <br />of principal reduces long-term liabilities in the statement of net assets. <br />2,640,000 <br />Proceeds from the issuance of long-term debt and premium on long-term debt are reported <br />as other financing sources in the governmental funds. In the government-wide statements, <br />proceeds are treated as an increase in long-term liabilities. <br />(9,908,166) <br />Amounts paid to refunding agent are reported as other financing uses in the governmental <br />funds. In the government-wide financial statements, amounts paid to refunding agent are <br />treated as a decrease in long-term liabilities. <br />9,749,587 <br />Some expenses reported in the statement of activities do not require the use of current <br />financial resources and these are not reported as expenditures in governmental funds: <br />Change in accrued interest payable <br />8,557 <br />Change in refunding loss <br />(90,308) <br />Change in premiums and discounts on issuance of bonds. <br />49,890 <br />Change in NPO and OPEB Obligation <br />(1,530,789) <br />Change in Compensated Absences <br />124,091 <br />Internal service funds are used by management to charge the costs of certain activities, such <br />as fleet maintenance and information technology, to individual funds. The net revenue <br />(expense) of certain internal service funds is reported with governmental activities. <br />(225,787) <br />(expense) of certain internal service funds is reported with governmental activities.(expense) of certain internal service funds is reported with governmental activities.3/5/2015 <br />(expense) of certain internal service funds is reported with governmental activities. <br />(expense) of certain internal service funds is reported with governmental activities. <br />Draft <br />3/5/2015 <br />3/5/2015 <br />Change in net position of governmental activities <br />$ 3,493,160 <br />Change in net position of governmental activities Change in net position of governmental activities Change in net position of governmental activities <br />$ $ <br />Change in net position of governmental activities <br />3/5/2015 <br />3/5/2015 <br />See Notes to Financial Statements. <br />21 <br /> <br />