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05-28-24-R
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05-28-24-R
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7/9/2024 10:02:52 AM
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CITY OF ARDEN HILLS <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, 2023 <br />Net changes in fund balances — total governmental funds <br />Amounts reported for governmental activities in the Statement of Activities are different because: <br />Governmental funds report capital outlays as expenditures. However, in the Statement of Activities <br />the cost of those assets is allocated over their estimated useful lives and reported as depreciation <br />expense. <br />Capital outlay <br />Depreciation expense <br />A gain or loss on the disposal of capital assets, including the difference between the carrying value <br />and any related sale proceeds, is included in the change in net position. However, only the sale <br />proceeds are included in the change in fund balance. <br />Adjustments are made between the governmental funds and the Statement of Activities for the <br />long-term liability activity of the net pension liability. <br />The recognition of certain revenues and expenses/expenditures differ between the full accrual <br />governmental activities financial statements and the modified accrual governmental fund financial <br />statements. <br />Deferred outflows of resources — pension plans <br />Deferred inflows of resources — pension plans <br />Deferred inflows of resources — unavailable revenues <br />Internal service funds are used to allocate costs to individual funds. The net revenue of the internal <br />service funds is reported with governmental activities in the government -wide financial statements. <br />$ 1,500,822 <br />927,911 <br />(1,045,469) <br />(7,914) <br />246,289 <br />(59,923) <br />(246,074) <br />(449,209) <br />7,007 <br />Some expenses reported in the Statement of Activities do not require the use of current financial <br />resources and, therefore, are not reported as expenditures in governmental funds. <br />Compensated absences (7,228) <br />Change in net position of governmental activities <br />$ 866,212 <br />See notes to basic financial statements -19- <br />
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