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CITY OF RAMSEY <br />Reconciliation of the Balance Sheet <br />to the Statement of Net Position <br />Governmental Funds <br />December 31, 2012 <br />Total fund balances — Governmental Funds $ 34,783,575 <br />Amounts reported for governmental activities in the Statement of Net Position are <br />different because: <br />Capital assets used in governmental activities are not financial resources and <br />therefore are not reported as assets in Governmental Funds. <br />Cost of capital assets <br />Less accumulated depreciation <br />81, 784,646 <br />(17,145,824) <br />Long-term liabilities are not due and payable in the current period and therefore are <br />not reported as liabilities in the funds. <br />Long-term liabilities at year-end consist of: <br />Bonds (36,345,000) <br />Compensated absences payable (760,944) <br />Certain revenues (including delinquent taxes and special assessments) are included <br />in net position, but are excluded from fund balances until they are available to <br />liquidate liabilities of the current period. 1,590,313 <br />Accrued interest payable is included in net position, but is excluded from fund <br />balances until due and payable. (100,133) <br />Net other postemployment benefit obligations reported in the statement of net <br />position do not require the use of current financial resources and are not reported as <br />liabilities in governmental funds until actually due. <br />Internal Service Funds are used to manage insurance -related activty. The assets <br />and liabilities of the Internal Service Funds (including capital assets) are included <br />in governmental activities in the Statement of Net Position. <br />(279,642) <br />402,662 <br />Total net position — governmental activities $ 63,929,653 <br />See notes to basic financial statements <br />