Agenda - Council - 06/12/2018 - Laserfiche WebLink

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CITY OF RAMSEY Reconciliation of the Balance Sheet to the Statement of Net Position Governmental Funds December 31, 2017 Total fund balances — Governmental Funds $ 40,721,908 Amounts reported for governmental activities in the Statement of Net Position are different because: Capital assets used in governmental activities are not financial resources and therefore are not reported as assets in Governmental Funds Cost of capital assets Less accumulated depreciation Long-term liabilities are not due and payable in the current period and therefore are not reported as liabilities in the funds Long-term liabilities at year-end consist of: Bonds and capital equipment certificates Compensated absences payable Net Pension Liability 97,194,130 (30,279,339) (27,095,000) (847,202) (5,892,660) Certain revenues (including delinquent taxes, special assessments and notes receivable) are included in net position, but are excluded from fund balances until they are available to liquidate liabilities of the current period. 2,029,176 Accrued interest payable is included in net position, but is excluded from fund balances until due and payable. (73,096) Net other postemployment benefit obligations reported in the statement of net position do not require the use of current financial resources and are not reported as liabilities in governmental funds until actually due. Governmental funds do not report certain amounts related to pensions. Deferred outflows of resources for pension plan deferments Deferred inflows of resources for pension plan deferments Internal Service Funds are used to manage insurance -related activity. The assets and liabilities of the Internal Service Funds are included in governmental activities in the Statement of Net Position. Total net position — governmental activities See notes to basic financial statements (565,491) 5,165,609 (5,486,996) 497,361 $ 75,368,400