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CITY OF CENTERVILLE, MINNESOTA <br />NOTES TO THE FINANCIAL STATEMENTS <br />DECEMBER 31, 2011 <br />Note 3: DETAILED NOTES ON ALL FUNDS - CONTINUED <br />B. Deferred revenue <br />Governmental funds report deferred revenue in connection with receivables for revenues that are not considered to be <br />available to liquidate liabilities of the current period. Governmental funds also defer revenue recognition in connection <br />with resources that have been received, but not yet earned. At the end of the current fiscal year, the various components <br />of deferred revenue and unearned revenue reported in the govermnental funds were as follows: <br />General fund <br />Taxes receivable <br />Special assessments receivable <br />Debt Service funds <br />Special assessments receivable <br />Total <br />Unavailable <br />$ 65,048 <br />86,712 <br />1,773,704 <br />$ 1,925,464 <br />-59- <br />