Agenda - Council - 06/27/2023 - Laserfiche WebLink

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CITY OF RAMSEY Reconciliation of the Balance Sheet to the Statement of Net Position Governmental Funds December 31, 2022 Total fund balances — Governmental Funds $ 6114361516 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. Net book value of capital assets 881271,396 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 (35,1551000) Unamortized bond premiums (I,951,694) Compensated absences payable (I,069,926) Net pension liability (15,2561095) Total OPEB liability (796,286) Certain revenues (including long-term receivables, delinquent taxes, and special assessments) are included in net position, but are excluded from fund balances until they are available to liquidate liabilities of the current period. 310091415 Accrued interest payable is included in net position, but is excluded from fund balances until due and payable. (84,282) Governmental funds do not report certain amounts related to pensions and OPEB: Deferred outflows of resources for OPEB plan deferments 5391144 Deferred outflows of resources for pension plan deferments 9,240,986 Deferred inflows of resources for OPEB plan deferments (611,952) Deferred inflows of resources for pension plan deferments (164,764) 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. 4181926 Total net position — governmental activities See notes to basic financial statements $ 107182613 84 45