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CITY OF EUGENE, OREGON
<br />Notes to Basic Financial Statements
<br />(2) Reconciliation of Government-wide and Fund Financial Statements continued
<br />(B) Explanation of Differences Between the Government-wide Statement of Activities and the Fund Statement of
<br />Revenues, Expenditures, and Changes in Fund Balances
<br />The Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of
<br />Governmental Funds to the Statement of Activities is provided at Exhibit 5. The following are selected
<br />elements of that reconciliation:
<br />Governmental funds defer revenues that do not provide current financial resources. However, the Statement of
<br />Activities recognizes such revenues at their net realizable value when earned, regardless of when received.
<br />The details of this $1,189,747 difference are as follows:
<br />Change in deferred revenue from the following sources:
<br />Property taxes receivable $ 391,464
<br />Special assessments receivable (177,361)
<br />System development charges receivable (23,418)
<br />Municipal court receivables (37,973)
<br />Notes receivable 1,073,543
<br />Subtotal 1,226,255
<br />Change in the allowance for uncollectibles (36,508)
<br />Net adjustment $ 1,189,747
<br />Donations of capital assets are reported as capital contributions in the Statement of Activities, but do not
<br />appear in the governmental funds because they are not financial resources. In addition, the Statement of
<br />Activities reports gains and losses arising from the disposal of existing capital assets, while governmental funds
<br />do not. The details of this $2,393,581 difference are as follows:
<br />Donations of capital assets
<br />Sale of capital assets
<br />Net adjustment
<br />$ 2,400,815
<br />(7,234)
<br />$ 2,393,581
<br />Governmental funds do not report expenditures for unpaid compensated absences, interest expense, or
<br />arbitrage since they do. not require the use of current financial resources. However, the Statement of Activities
<br />reports such expenses when incurred, regardless of when settlement ultimately occurs. The details of this
<br />$1,422,313 difference are as follows:
<br />Compensated absences
<br />Net OPEB obligation
<br />Accrued interest
<br />~ ~ Amortization of issuance costs
<br />~ Net adjustment
<br />,_
<br />,~
<br />~-
<br />'', , .,
<br />47
<br />$ (255,_110)
<br />(1,106,430)
<br />70,588
<br />(131,361)
<br />$ (1,422,313)
<br />continued
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