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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 31,2014 <br /> Total fund balances-governmental $ 2,481 639 <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 22,902,842 <br /> Less accumulated depreciation (7,286,505) <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 (8,695,000) <br /> Compensated absences payable (33,978) <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 /> Delinquent taxes receivable 54,081 <br /> Special assessments receivable 1,318 889 <br /> Governmental funds do not report a liability for accrued interest until due and payable (119,829) <br /> Total net position-governmental activities $ 10,622,139 <br /> The notes to the financial statements are an integral part of this statement. <br /> -35- <br />