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CITY OF NEW BRIGHTON, MINNESOTA Statement 5 <br />RECONCILIATION OF THE STATEMENT OF REVENUES, <br />EXPENDITURES AND CHANGES IN FUND BALANCES OF <br />GOVERNMENTAL FUNDS <br />For the Year Ended December 31, 2013 <br />2013 2012 <br />Amounts reported for governmental activities in the <br />statement of activities are different because: <br />Net changes in fund balances - total governmental funds (statement 4)(9,708,038)$ 673,124$ <br />Governmental funds report capital outlays as expenditures. However, in the <br />statement of activities the cost of those assets is allocated over their <br />estimated useful lives and reported as depreciation expense. This is the <br />amount by which capital outlays exceeded depreciation in the current period.(1,548,690) (1,865,061) <br />Revenues in the statement of activities that do not provide current financial <br />resources are not reported as revenues in the funds.56,141 44,665 <br />The issuance of long-term debt (e.g., bonds, leases) provides current financial <br />resources to governmental funds, while the repayment of the principal of <br />long-term debt consumes the current financial resources of governmental <br />funds. Neither transaction, however, has any effect on net position. This <br />amount is the net effect of these differences in the treatment of long-term debt <br />and related items.4,785,000 2,075,000 <br />Some expenses reported in the statement of activities do not require the use of <br />current financial resources and, therefore, are not reported as expenditures in <br />governmental funds.(194,744) 126,070 <br />Internal service funds are used by management to charge the cost of compensated <br />absences, fleet and non-fleet capital asset replacement, information technology <br />and risk management services to individual funds. The net revenue of certain <br />activities of internal service funds is reported with governmental activities.199,894 999,538 <br />Utility capital projects funds are included in the governmental funds but should be <br />included with the business-type activities 516,761 207,480 <br />Pollution remediation expenses reported in the statement of activities do not require <br />the use of current financial resources and, therefore, are not reported as <br />expenditures in governmental funds.(632,000) (683,500) <br />Change in net position of governmental activities (statement 2)(6,525,676)$ 1,577,316$ <br />37 <br />The accompanying notes are an integral part of these financial statements.