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CITY OF GEM LAKE <br />Reconciliation of the Statement of <br />Revenue.Expenditures, and Changes in fund Balances: <br />.to the Statement of Activities <br />Csovernmental Activities <br />Year Ertt[edcember 31, 2020 <br />Total net change in fund balances— governmental funds <br />Amounts reported for governmental activities in the.Statement of Activities are different because: <br />Capital outlays are -reported in: governmental funds as expenditures: Howevei-y in the Statement <br />bf Activities, the cost of those assets :is allocated over the estimated useful. lives es depreciation <br />expense. <br />Capital outlays <br />Depreciation expense <br />Certain revenues (including taxes an& special assessments) .are included in the change in net <br />position, but are excluded from the change in fund balances until they are available to Iiquidate <br />liabilr""ties of the current period. <br />Repayment of bond principal: is an expenditure. in the governmental funds,.but reduces.1Qng-term <br />liabilities in the Statement.ofNet P:ositipn. <br />1238,405 <br />8,853 <br />(90,923)- <br />(105;929) <br />90,000 <br />Some expenses reported in the Statement of: Activities do not require the use ofcurrent.-fimmial <br />resources and;. therefore, are.not reported as expenditures in governmental.funds. <br />Amortization of bond premiums 1,282 <br />Accrued. interest 000 <br />Change <in net position.— governmental. actiyifies - $ 143,478 <br />See notes to.basic fmancial.statements -12- <br />