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Urban Renewal Agency of the 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 867,905 <br />Amounts reported for governmental activities in the Statement of Activities are <br />different because: <br />Capital outlays are reported as expenditures in governmental funds. However, the Statement of <br />Activities allocates the cost of capital outlays over their estimated useful lives as depreciation <br />expense. 1,096,594 <br />Governmental funds defer revenues that do not provide current financial resources. However, the <br />Statement of Activities recognizes such revenues at their net realizable value when earned, <br />regardless of when received. 247,118 <br />Change in net assets of governmental activities. 2,211,617 <br />The accompanying notes are an integral part of the financial statements. <br />17 <br />