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CITY OF RAMSEY Reconciliation of the Statement of Revenue, Expenditures, and Changes in Fund Balances to the Statement of Activities Governmental Funds Year Ended December 31, 2022 Total net change in fund balances — Governmental Funds Amounts reported for governmental activities in the Statement of Activities are different because: Capital outlays are reported in Governmental Funds as expenditures. However, in the Statement of Activities the cost of those assets is allocated over the estimated useful lives as depreciation expense. Capital outlays Contributed assets from Internal Service Fund Contributed assets from developers Depreciation expense Issuance of long-term debt provides current financial resources to governmental funds, while repayment of long-term liabilities is an expenditure in the Governmental Funds. Neither transaction, however, has any effect on net position. Issuance of new debt Repayment of principal on long-term debt Debt premiums Interest on long-term debt in the Statement of Activities differs from the amount reported in the Governmental Funds because interest is recognized as an expenditure in the funds when it is due, and thus requires the use of current financial resources. In the Statement of Activities, however, interest expense is recognized as the interest accrues, regardless of when it is due. Certain revenues (including long-term receivables, delinquent taxes and special assessments) are included in the change in net position, but are excluded from the change in fund balances until they are available to liquidate liabilities of the current period. Certain expenses are included in the change in net position, but do not require the use of current funds, and are not included in the change in the fund balances. Governmental activities — compensated absences payable Governmental activities — pension expense Other postemployment benefits reported in the statement of activities do not require the use of current financial resources and are not reported as expenditures in governmental funds until actually due. Internal Service Funds are used to charge the cost of certain activities, such as insurance to individual funds. This amount represents the change in net position of the Internal Service Fund, which is reported with governmental activities. Change in net position — govermnental activities See notes to basic financial statements $ 14,685,510 6,857,075 33,868 1,710,725 (4,535,799) (10,765,000) 1,915,000 (1,155,980) (8,582) 128,908 43,123 (915,782) (68,304) (48,977) $ 7,875,785 49