HomeMy WebLinkAboutNC Comprehensive Report (Finance) (22)CITY OF NATIONAL CITY
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and
Changes in Fund Balances to the Governmental -Wide Statement of Activities
For the Year Ended June 30, 2012
Changes in fund balances of governmental funds
Amounts reported for governmental activities in the statement of activities are different because:
$' (57,045,684)
Governmental funds report capital outlay as expenditures. However, in the government -wide
statement of activities, the cost of those assets are allocated over their estimated useful lives as
depreciation expense. This is the amount by which depreciation expense exceeded capital outlays
in the current year, net of disposals. (1,466,161)
Adjustment to extraordinary gain(loss) associated with the dissolution of the redevelopment
agency to account for differences between modified -accrual basis of accounting. 70,577,663
Repayment of bond principal and capitalized lease obligations are expenditures in governmental funds,
but the repayments reduces long-term liabilities in the government -wide statement of net assets. 4,547,823
Interest expense on long-term debt was reported in the government -wide statement of activities
but they did not require the use of current financial resources. Therefore, interest expense was not
reported as expenditures in governmental funds. The following amount represents the change in accrued
interest. (416,910)
To record as an expense the net change in compensated absences in the statement of activities. (1,908,105)
To record as an expense the net change in other post employment benefits liability in the statement
of activities. (20,381)
Revenues in the government -wide statement of activities that did not provide current financial resources
were not reported as revenues in the governmental funds. 941,336
Internal service funds were used by management to charge the costs of certain activities, such as
insurance and fleet management, to individual funds. The net revenue (expense) of the internal
service funds are reported with governmental activities. 546,522
Change in net assets of governmental activities $ 15,756,103
See accompanying notes to the basic financial statements.
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