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CITY OF LA PORTE, TEXAS <br /> Reconciliation of the Governmental Funds <br /> Balance Sheet to Statement of Net Assets <br /> September 30, 2010 <br /> Amounts reported for governmental activities in the statement of net <br /> assets are different because: <br /> Total fund balances - total governmental funds $ 40,543,819 <br /> Capital assets used in governmental activities are not current financial <br /> resources and, therefore, are not reported in this fund financial <br /> statement, but are reported in the governmental activities of the <br /> statement of net assets. 62,702,275 <br /> Revenues in the statement of activities that do not provide current financial <br /> resources are not reported as revenues in the funds <br /> Unavailable revenues 1,746,522 <br /> Interest payable on Tong -term debt does not require current financial <br /> resources. Therefore, interest payable is not recorded as a liability in <br /> governmental funds balance sheets. (77,700) <br /> The assets and liabilities of certain internal service funds are not <br /> included in the fund financial statement, but are included in the <br /> governmental activities of the statement of net assets. 12,104,048 <br /> Some liabilities, (such as notes payable, capital lease contract <br /> payable, long -term compensated absences and bonds payable), are <br /> not due and payable in the current period and are not included in the <br /> fund financial statement, but are included in the governmental activities <br /> of the statement of net assets: <br /> Bonds payable (42,065,000) <br /> Premium on issuance (478,623) <br /> Compensated absences (3,102,794) <br /> Bond issuance costs 662,596 <br /> Arbitrage (304,474) <br /> Net OPEB obligation (3,216,106) <br /> Net pension obligation (1,307,171) <br /> Net assets of governmental activities $ 67,207,392 <br /> See accompanying notes to basic financial statements. <br /> 33 <br />