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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, 2021 <br />Amounts reported for the governmental activities in the statement of net position are different because <br />Total Fund Balances - Governmental$ 2,620,161 <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 24,648,894 <br />Less accumulated depreciation (14,177,437) <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 (2,365,359) <br />Compensated absences payable (58,637) <br />Net pension liability (278,958) <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 10,859 <br />Special assessments receivable 445,625 <br />Governmental funds do not report long-term amounts related to pensions. <br />Deferred outflows of pension resources 214,735 <br />Deferred inflows of pension resources (256,753) <br />Governmental funds do not report a liability for accrued interest until due and payable. (26,494) <br />Total Net Position - Governmental Activities$ 10,776,636 <br />The notes to the financial statements are an integral part of this statement. <br />35 <br /> <br />