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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, 2016 Total net change in fund balances — Governmental Funds Amounts reported for governmental activities in the Statement of Activities are different because: $ 1,443,884 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 2,756,193 Contributed assets from developers 1,082,388 Assets contributed to enterprise funds (551,136) Disposals (23,062) Depreciation expense (3,181,236) Issuance of long-teuu 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-teuu debt Interest on long-teiiu 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 delinquent taxes, special assessments, and notes receivable) 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 Net other postemployment benefit obligations 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 — governmental activities See notes to basic financial statements (1,650,000) 1,735,000 5,687 128,440 2,554 (1,371,374) (55,439) 19,527 $ 341,426