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CITY OF EUGENE, OREGON <br />Notes to Basic Financial Statements <br />(5) Other Information, continued <br />(H) Prior Period Adjustment <br />Debt restatement: <br />In the prior fiscal year, the City drew down $1,425,000 from the General Obligation Bond and Revolving Credit <br />Facility, which was recorded as a short-term liability within the General Capital Projects Fund. However, the <br />General Obligation Bond and Revolving Credit Facility has a maturity date of June 1, 2012. Because of its <br />long-term nature, this debt instrument has been reclassified as a long-term liability in the Governmental <br />Activities column of the Statement of Net Assets and eliminated from the fund financial statements. The prior <br />period adjustment increased the July 1, 2007 fund balance of the General Capital Projects Fund by $1,425,000. <br />Donated asset: <br />In fiscal year 2007, the City did not record a land donation to MWMC. This donation is reported as a prior <br />period adjustment, decreasing the July 1, 2007 fund balance of the Wastewater Utility Fund by $774,547. <br />76 <br />