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CITY OF EUGENE, OREGON <br />Notes to Basic Financial Statements <br />(2) Reconciliation of Government-wide and Governmental Fund Financial Statements, continued <br />(A) Explanation of Differences Between the Government-wide Statement of Net Position and the Governmental Fund <br />Balance Sheet, continued <br />Net pension asset (liability) and deferred inflows and outflows of resources related to pensions are reported in the <br />Statement of Net Position.These items represent a consumption or acquisition of net position that applies to future <br />periods. The details of the $54,998,289 difference are as follows: <br />(B) Explanation of Differences Between the Government-wide Statement of Activities and the Statement of Revenues, <br />Expenditures, and Changes in Fund Balances <br />The Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental <br />Funds to the Statement of Activities is provided at Exhibit 5. The following are selected elements of that <br />reconciliation: <br />Governmental funds defer revenues that do not provide current financial resources.However, the Statement of <br />Activities recognizes such revenues at their net realizable value when earned, regardless of when received. The <br />details of this $840,976 difference are as follows: <br />Donations of capital assets are reported as capital contributions in the Statement of Activities, but do not appear in <br />the governmental funds because they are not financial resources. In addition, the Statement of Activities reports <br />gains and losses arising from the disposal of existing capital assets, while governmental funds do not. The details of <br />this $306,905 difference are as follows: <br />Governmental funds do not report expenditures for unpaid compensated absences, interest expense, or arbitrage <br />since they do not require the use of current financial resources. However, the Statement of Activities reports such <br />expenses when incurred, regardless of when settlement ultimately occurs. The details of this $41,272,268 difference <br />are as follows: <br />continued <br />48 <br />