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CITY OF CENTERVILLE, MINNESOTA <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$ 2,206,916 <br />Amounts reported for the governmental activities in the statement <br />of net position are different because <br />Capital assets used in governmental activities are not financial <br />resources and therefore are not reported as assets in governmental funds. <br />Cost of capital assets 21,352,587 <br />Less accumulated depreciation (5,446,590) <br />Long-term liabilities, including bonds payable, are not due and payable in the <br />current period and therefore are not reported as liabilities in the funds. <br />Long-term liabilities at year end consist of <br />Bond principal payable (9,294,981) <br />Compensated absences payable (32,304) <br />Some receivables are not available soon enough to pay for the current period's expenditures, <br />and therefore are unavailable in the funds <br />Special assessments 1,641,720 <br />Delinquent taxes 61,781 <br />Governmental funds do not report a liability for accrued interest until due and payable (114,783) <br />Total net position - governmental activities$ 10,374,346 <br />The notes to the financial statements are an integral part of this statement. <br />-35- <br /> <br />