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CITY OF RAMSEY <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, 2017 <br />Total net change in fund balances — Governmental Funds <br />Amounts reported for governmental activities in the Statement of Activities are different <br />because: <br />$ 540,649 <br />Capital outlays are reported in Governmental Funds as expenditures. However, in the <br />Statement of Activities the cost of those assets is allocated over the estimated useful <br />lives as depreciation expense. <br />Capital outlays 1,922,947 <br />Contributed assets from developers 1,085,299 <br />Disposals (638,366) <br />Depreciation expense (3,335,799) <br />Issuance of long-term debt provides current financial resources to governmental funds, <br />while repayment of long-term liabilities is an expenditure in the Governmental Funds <br />Neither transaction, however, has any effect on net position. <br />Issuance of new debt (895,000) <br />Repayment of principal on long-term debt 2,085,000 <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 expenditure in <br />the funds when it is due, and thus requires the use of current financial resources. In the <br />Statement of Activities, however, interest expense is recognized as the interest accrues, <br />regardless of when it is due. <br />Certain revenues (including delinquent taxes, special assessments, and notes <br />receivable) are included in the change in net position, but are excluded from the change <br />in fund balances until they are available to liquidate liabilities of the current period. <br />Certain expenses are included in the change in net position, but do not require the use <br />of current funds, and are not included in the change in the fund balances. <br />Governmental activities — compensated absences payable <br />Governmental activities — pension expense <br />Net other postemployment benefit obligations reported in the statement of activities do <br />not require the use of current financial resources and are not reported as expenditures <br />in governmental funds until actually due. <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 position of the <br />Internal Service Fund, which is reported with governmental activities. <br />Change in net position — governmental activities <br />See notes to basic financial statements <br />8,726 <br />1,047,292 <br />(72,459) <br />(659,408) <br />(50,480) <br />2,898 <br />$ 1,041,299 <br />51 <br />