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CITY OF EUGENE, OREGON <br />Notes to Basic Financial Statements <br />(2) Reconciliation of Government-wide and Fund Financial Statements <br />(A) Explanation of Differences Between the Government-wide Statement of Net Assets and the Governmental <br />Fund Balance Sheet <br />The Balance Sheet for governmental funds (Exhibit 3) includes a reconciliation between total fund balances <br />and total net assets of governmental activities in the Statement of Net Assets (Exhibit 1). The following are <br />selected elements of that reconciliation. <br />The Statement of Net Assets reports receivables at their net realizable value. However, receivables not <br />available to pay for current-period expenditures are deferred in governmental funds. The details of this <br />$17,542,399 difference are as follows: <br />Receivables: <br /> Interest$912,549 <br /> Taxes4,196,337 <br /> Systems development charges800,300 <br /> Municipal court796,295 <br /> Assessments1,255,082 <br /> Loans and notes10,276,774 <br /> Subtotal18,237,337 <br /> Allowance for uncollectibles(694,938) <br />Net adjustment$17,542,399 <br />Capital assets are not financial resources in governmental funds, but reported in the Statement of Net Assets at <br />their net depreciable value. The details of this $349,205,317 difference are as follows: <br />Capital assets (net of accumulated depreciation) reported <br />in the Statement of Net Assets - governmental activities column: <br /> Land and construction in progress$69,699,787 <br /> Other capital assets (net of accumulated depreciation)298,460,696 <br />Capital assets (net of accumulated depreciation) reported <br />in internal service funds included in the Statement of <br />Net Assets - governmental activities column(18,955,166) <br />Net adjustment$349,205,317 <br />All liabilities are reported in the Statement of Net Assets. However, if they are not due and payable in the <br />current period, they are not recorded in governmental funds. The details of this $55,691,613 difference are as <br />follows: <br />Bonds payable (less: deferred charge for issuance costs)$(46,217,957) <br />Assessment deferral loans(11,945) <br />Notes and contracts payable(841,554) <br />Accrued interest payable(224,994) <br />Compensated absences(7,013,516) <br />Net OPEB obligation(1,089,745) <br />Rebatable arbitrage(291,902) <br />Net adjustment$(55,691,613) <br />continued <br />ìì <br />