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Urban Renewal Agency of the City of Eugene, Oregon Exhibit 5 <br />Reconciliation of the Statement of Revenues, Expenditures, and Changes <br /> in Fund Balances of Governmental Funds to the Statement of Activities <br />For the fiscal year ended June 30, 2018 <br />(amounts in dollars) <br />Net change in fund balances - total governmental funds 778,559 <br />Amounts reported for governmental activities in the Statement of Activities are <br /> different because: <br />Governmental funds do not report expenditures for unpaid compensated absences, interest <br /> expense, or arbitrage since they do not require the use of current financial resources. <br /> However, the Statement of Activities reports such expenses when incurred, regardless of <br /> when settlement ultimately occurs.1,291 <br />Capital outlays are reported as expenditures in governmental funds. However, the Statement of <br /> Activities allocates the cost of capital outlays over their estimated useful lives as depreciation <br /> expense.2,979,181 <br />Transfers of capital assets between different entities sometimes occur. Such transfers will <br />provide or use economic resources, but may not necessarily provide or use spendable financial <br />resources in governmental funds.(244,228) <br />Governmental funds defer revenues that do not provide current financial resources. However, the <br /> Statement of Activities recognizes such revenues at their net realizable value when earned, <br /> regardless of when received.(324,033) <br />Proceeds from the issuance of long-term debt provide current financial resources to governmental <br /> funds and are reported as revenues. In the same way, repayments of long-term debt use <br /> current financial resources and are reported as expenditures in governmental funds. However, neither <br /> the receipt of debt proceeds nor the payment of debt principal affect the Statement of Activities, <br /> but are reported as increases and decreases in noncurrent liabilities in the Statement of Net Position.298,000 <br />Change in net position of governmental activities. 3,488,770 <br />The accompanying notes are an integral part of the financial statements. <br /> <br /> <br />19 <br />December 10, 2018, Meeting - Item 3