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<br />CITY OF RAMSEY <br /> <br />Reconciliation of the Statement of <br />Revenue, Expenditures, and Changes in Fund Balances <br />to the Statement of Activities <br />Governmental Funds <br />Year Ended December 31, 2009 <br /> <br />Total net change in fund balances - Governmental Funds <br /> <br />Amounts reported for governmental activities in the Statement of Activities are <br />different because: <br /> <br />Capital outlays are reported in Governmental Funds as expenditures. However, in <br />the Statement of Activities the cost of those assets is allocated over the estimated <br />useful lives as depreciation expense. <br />Capital outlays <br />Disposals <br />Depreciation expense <br /> <br />Issuance of long-term debt provides current financial resources to governmental <br />funds, while repayment of long-term liabilities is an expenditure in the <br />Governmental Funds. Neither transaction, however, has any effect on net assets. <br /> <br />Issuance of new debt <br />Repayment of principal on long-term debt <br /> <br />Interest on long-term debt in the Statement of Activities differs from the amount <br />reported in the Governmental Funds because interest is recognized as an <br />expenditure in the funds when it is due, and thus requires the use of current <br />financial resources, In the Statement of Activities, however, interest expense is <br />recognized as the interest accrues, regardless of when it is due. <br /> <br />Certain revenues (including delinquent taxes and special assessments) are included <br />in the change in net assets, but are excluded from the change in fund balances until <br />they are available to liquidate liabilities of the current period. <br /> <br />Certain expenses are included in the change in net assets, but do not require the use <br />of current funds, and are not included in the change in the fund balances, <br /> <br />Governmental activities - compensated absences payable <br /> <br />Net other postemployment benefit obligation reported in the statement of activities <br />do not require the use of current financial resources and are not reported as <br />expenditures in governmental funds until actually due, <br /> <br />Internal Service Funds are used to charge the cost of certain activities, such as <br />insurance to Individual Funds. This amount represents the change in net assets of <br />the Internal Service Fund, which is reported with governmental activities. <br /> <br />Change in net assets - governmental activities <br /> <br />See notes to basic financial statements <br /> <br />-19- <br /> <br />$ 6,451,232 <br /> <br />4,429,123 <br />(41,062) <br />(2,276,568) <br /> <br />(1,340,000) <br />3,430,000 <br /> <br />26,464 <br /> <br />(7,686,330) <br /> <br />(87,145) <br /> <br />(70,231) <br /> <br />5,764 <br /> <br />$ 2,841,247 <br />