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CITY OF RAMSEY <br /> <br /> Reconciliation of the Statement of <br />Revenue, Expenditures, and Changes in Fund Balances <br />to the Statement of Activitias <br /> Governmental Funds <br /> Year Ended December 31, 2005 <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. Capital outlays <br /> Allocation of completed construction, transfers to Enterprise Funds & disposals <br /> Depreciation expense <br /> <br />The amount of bond proceeds used to finance the acquisition of capital assets is <br />reported in the Governmental Funds as a source of financing. Bond proceeds are <br />not revenues in the Statement of Activities, but rather constitute long-term <br />liabilities. <br /> <br />Repayment of long-term liabilities is an expenditure in the Governmental Funds, <br />but the repayment reduces long-term liabilities in the Statement of Net Assets. <br /> <br />Interest on long-term debt in the Statement of Activities differs fi.om 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 fi.om 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 /> Governmental activities - compensated absences payable <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 />$18,307,437 <br /> <br />16,303,594 <br /> (367,456) <br /> (747,258) <br /> <br />(24,280,000) <br /> <br />2,929,000 <br /> <br />(520,894) <br /> <br />7,044,537 <br /> <br />(56,489) <br /> <br /> 13,802 <br />$18,626,273 <br /> <br />See notes to basic financial statements <br /> <br />-19- <br /> <br /> <br />