Net Change in Fund Balances - Total Governmental Funds $ 473,154
Amounts Reported for Governmental Activities in the Statement of Activities are Different Because: Governmental funds report capital outlays as expenditures while governmental activities report depreciation expense to allocate those expenditures over the life of the assets. Capital outlay expenditures and contributed capital assets exceeded depreciation expense in the current year, as follows: Expenditures for capital assets $ 17,191,958 14,360,246
Contributed capital assets 5,703,077
Depreciation expense (8,534,789)
In the Statement of Activities, only the gain or the loss of capital assets is reported, whereas in the governmental funds, the entire proceeds from the sale increase financial resources. Thus, the change in net position differs from the change in fund balances by the book value of assets being disposed. (46,965)
Debt proceeds and capital leases are reported as financing sources in governmental funds and thus contribute to the change in fund balance. In the Statement of Net Position, however, issuing debt increases long-term liabilities and does not affect the Statement of Activities. Similarly, repayment of principal is an expenditure in the governmental funds but reduces the liability in the Statement of Net Position.
Amortization of bond premiums 42,981
Repayments 2,096,208
Because some revenues will not be collected for several months after the County's year end, they are not considered available revenues and are deferred in the governmental funds as follows: Property tax 8,760
Other 22,544
The current year County employer share of IPERS contributions are reported as expenditures in the governmental funds, but are reported as a deferred inflow of resources in the Statement of Net Position. 31,304
Some expenses reported in the Statement of Activities do not require the use of current financial resources and, therefore, are not reported as expenditures in the governmental funds as follows: Change in accrued interest on debt 6,170
Change in compensated absences (342,374)
Pension income 512,653
OPEB expense (120,459)
55,990
Change in Net Position of Governmental Activities $ 18,670,844
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