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CITY OF EUGENE, OREGON <br />Notes to Basic Financial Statements <br />(2) <br />(A) <br />Reconciliation of Government-wide and Fund Financial Statements <br />Explanation of Differences Between the Government-wide Statement of Net Assets and the Governmental <br />Fund Balance Sheet <br />The Balance Sheet for governmental funds (Exhibit 3) includes a reconciliation between total fund balances <br />and total net assets of governmental activities in the Statement of Net Assets (Exhibit 1). The following are <br />selected elements of that reconciliation. <br />The Statement of Net Assets reports receivables at their net realizable value. However, receivables not <br />available to pay for current-period expenditures are deferred in governmental funds. .The details of this <br />$18,724,909 difference are as follows: <br />Receivables: <br />Interest $ 962,058 <br />Taxes 4,538,290 <br />Systems development charges 776,882 <br />Municipal court 758,322 <br />Assessments 1,077,721 <br />Loans and notes 11,343,078 <br />Subtotal 19,456,351 <br />Allowance for uncollectibles (731,442) <br />Net adjustment $ 18,724,909 <br />Capital assets are not financial resources in governmental funds, but reported in the Statement of Net Assets at <br />their net depreciable value. The details of this $364,749,916 difference are as follows: <br />Capital assets (net of accumulated depreciation) reported <br />in the Statement of Net Assets -governmental activities column: <br />Land and construction in progress $ 79,047,584 <br />Other capital assets (net of accumulated depreciation) 309,436,678 <br />Capital assets (net of accumulated depreciation) reported <br />in internal service funds included in the Statement of <br />Net Assets -governmental activities column (23,734,346) <br />Net adjustment $ 364,749,916 <br />All liabilities are reported in the Statement of Net Assets. However, if they are not due and payable in the <br />current period, they are not recorded in governmental funds. The details of this $56,566,318 difference are as <br />follows: <br />Bonds payable (less deferred charge for issuance costs) $ (46,109,888) <br />Notes and contracts payable (513,838) <br />Accrued interest payable (185,889) <br />Compensated absences (7,268,626) <br />Net OPEB obligation (2,196,175) <br />Rebatable arbitrage (291,902) <br />Net adjustment $ (56,566,318) <br />continued <br />46 <br />