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CITY OF EUGENE, OREGON
<br />
<br />Notes to Basic Financial Statements
<br />
<br />continued
<br /> (2) Reconciliation of Government-wide and Governmental Fund Financial Statements
<br />
<br />(A) Explanation of Differences Between the Government-wide Statement of Net Position and the Governmental Fund
<br />Balance Sheet
<br />
<br />The Balance Sheet for governmental funds (Exhibit 3) includes a reconciliation between total fund balances and total
<br />net position of governmental activities in the Statement of Net Position (Exhibit 1). The following are selected
<br />elements of that reconciliation.
<br />
<br />The Statement of Net Position reports receivables at their net realizable value. However, receivables not available to
<br />pay for current-period expenditures are deferred in governmental funds. The details of this $25,868,204 difference
<br />are as follows:
<br />
<br />Receivables:
<br /> Interest $ 2,777,956
<br /> Taxes 4,258,055
<br /> Systems development charges 1,521,147
<br /> Municipal court 1,435,942
<br /> Assessments 279,105
<br /> Loans and notes 17,166,820
<br /> Subtotal 27,439,025
<br /> Allowance for uncollectibles (1,570,821)
<br />Net adjustment $25,868,204
<br />
<br />Capital assets are not financial resources in governmental funds, but are reported in the Statement of Net Position at
<br />their net depreciable value. The details of this $437,601,528 difference are as follows:
<br />
<br />Capital assets (net of accumulated depreciation) reported
<br />in the Statement of Net Position - governmental activities column:
<br /> Land and construction in progress $ 95,818,006
<br /> Other capital assets (net of accumulated depreciation) 371,226,920
<br />Capital assets (net of accumulated depreciation) reported
<br />in internal service funds included in the Statement of
<br />Net Position - governmental activities column (29,443,398)
<br />Net adjustment $437,601,528
<br />
<br />All liabilities are reported in the Statement of Net Position. However, if they are not due and payable in the current
<br />period, they are not recorded in governmental funds. The details of this $58,441,566 difference are as follows:
<br />
<br />Bonds payable $ (43,728,462)
<br />Notes and contracts payable (5,484,000)
<br />Accrued interest payable (251,030)
<br />Compensated absences (8,978,074)
<br />Net adjustment $(58,441,566)
<br />Net pension and OPEB liabilities as well as deferred inflows and outflows of resources related to pensions and OPEB
<br />are reported in the Statement of Net Position. These items represent a consumption of net position that applies to
<br />future periods. The details of the $92,298,914 difference are as follows:
<br />
<br />Deferred inflows related to pensions $(1,499,570)
<br />Deferred inflows related to OPEB (144,918)
<br />Deferred outflows related to pensions 47,911,307
<br />Deferred outflows related to OPEB 1,899,407
<br />Net pension liability (132,335,464)
<br />Net OPEB liability (8,129,676)
<br />Net adjustment $(92,298,914)
<br />49
<br />December 10, 2018, Meeting - Item 2D
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