ACFR - FY2020 5-28-21 FINAL - Flipbook - Page 46
CITY OF EUSTIS, FLORIDA
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES OF THE GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2020
$ (694,862)
Net Change in Fund Balances - Total Governmental Funds
Amounts Reported for Governmental Activities in the Statement of Activities
are Different Because:
Governmental funds report capital purchases as expenditure. However, in the
statement of activities, the cost of those assets is depreciated over their estimated
useful lives and reported as depreciation expense. This is the amount by which capital
outlays exceeded depreciation expense in the current period
Note 4 Governmental Activities
Expenditures for capital assets
Less current year depreciation
Net governmental capital assets
$ 6,306,447
(2,113,494)
4,192,954
(135,369)
Some revenues are not available and thus reported as deferred inflows at the fund level
but reflected as earned in the Statement of Activities and thus taken into revenue
on the Statement of Activities.
Bond proceeds provide current financial resources to governmental funds, while the
repayment of the principal consumes financial resources of governmental funds.
Governmental funds report the debt issuance.
Principal payments
Accrued Interest
Debt Issuance
247,475
(3,365)
(3,000,000)
Change in the net pension liability and related deferred amounts.
15,922
Some expenses reported in the statement of activities do not require the use of current
financial resources and are not reported as expenditures in governmental funds:
Change in net OPEB obligation and related deferred amounts
Change in compensated absences
63,561
(90,234)
$
Change in Net Position of Governmental Activities
The notes to the financial statements are an integral part of this statement.
29
596,081
