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CITY OF RAMSEY <br />Reconciliation of the Statement of <br />Revenues, Expenditures, and Changes in Fund Balances <br />to the Statement of Activities <br />Governmental Funds <br />Year Ended December 31, 2013 <br />Total net change in fund balances — Governmental Funds $ 2,501,910 <br />Amounts reported for governmental activities in the Statement of Activities are <br />different because: <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. <br />Capital outlays <br />Depreciation expense <br />Issuance of long-term debt provides current financial resources to governmental <br />funds, while repayment of long-term liabilities is an expenditure in the <br />Governmental Funds. Neither transaction, however, has any effect on net position. <br />Issuance of new debt <br />Repayment of principal on long-term debt <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 <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 />Certain revenues (including delinquent taxes, special assessments, and notes <br />receivable) are included in the change in net position, but are excluded from the <br />change in fund balances until they are available to liquidate liabilities of the <br />current period. <br />Certain expenses are included in the change in net position, but do not require the <br />use of current funds, and are not included in the change in the fund balances. <br />705,383 <br />(2,814,949) <br />(63 5,000) <br />1,315,000 <br />(7,351) <br />(279,259) <br />Governmental activities — compensated absences payable (58,889) <br />Net other postemployment benefit obligations reported in the statement of <br />activities do not require the use of current financial resources and are not reported <br />as expenditures 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 <br />the Internal Service Fund, which is reported with governmental activities. <br />(67,365) <br />21,060 <br />Change in net position — governmental activities $ 680,540 <br />See notes to basic financial statements <br />