New Search
City of Eugene, Oregon Exhibit 5 <br />Reconciliation of the Statement of Revenues, Expenditures, and Changes <br />in Fund Balances of Governmental Funds to the Statement of Activities <br />For the fiscal year ended June 30, 2008 <br />(amounts in dollars) <br />Net change in fund balances -total governmental funds (11,480,329) <br />Amounts reported for governmental activities in the statement of activities are <br />different because: <br />Governmental funds defer revenues that do not provide current financial resources. <br />However, the Statement of Activities recognizes such revenues at their net realizable value <br />when earned, regardless of when received. 1,189,747 <br />Donations of capital assets are reported as capital contributions in the Statement of <br />Activities, but do not appear in the governmental funds because they are not financial <br />resources. In addition, the Statement of Activities reports gains and losses arising from <br />the disposal of existing capital assets, while governmental funds do not. 2,393,581 <br />Governmental funds do not report expenditures for unpaid compensated absences, interest <br />expense, or arbitrage since they do not require the use of current financial resources. <br />However, the Statement of Activities reports such expenses when incurred, regardless of <br />when settlement ultimately occurs. (1,422,313) <br />Capital outlays are reported as expenditures in governmental funds. However, the <br />Statement of Activities allocates the cost of capital outlays over their estimated useful <br />lives as depreciation expense. 15,939,839 <br />Proceeds from the issuance of long-term debt provide current financial resources to governmental <br />funds and are reported as revenues. In the same way, repayments of Tong-term debt use <br />current financial resources and are reported as expenditures in governmental funds. However, neither <br />the receipt of debt proceeds nor the payment of debt principal affect the Statement of Activities, <br />but are reported as increases and decreases in noncurrent liabilities in the Statement of Net Assets. 1,972,606 <br />Transfers of capital assets are often made between proprietary funds and governmental funds when the use <br />of an asset changes. Transfers of liabilities are sometimes made between proprietary funds and <br />governmental funds when the fund responsible for repayment changes. Such transfers will provide or use <br />economic resources in proprietary funds, but may not necessarily provide or use spendable financial <br />resources in governmental funds. (2,796,057) <br />Internal service funds are used by management to charge the costs of certain activities, <br />such as insurance, facilities, and fleet services to individual funds. The net revenue <br />(expense) of certain internal service funds is reported with governmental activities. 6,824,597 <br />Change in net assets of governmental activities 12,621,671 <br />The accompanying notes are an integral part of the financial statements. <br />~' :~ 29 <br />_ _ _ _. , <br />