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CITY OF EUGENE, OREGON
<br />Notes to Basic Financial Statements
<br />continued
<br />(2) Reconciliation of Government-wide and Governmental Fund Financial Statements
<br />(A) Explanation of Differences Between the Government-wide Statement of Net Position and the Governmental Fund
<br />Balance Sheet
<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 />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 $25,623,939 difference
<br />are as follows:
<br />Receivables:
<br /> Interest $ 909,696
<br /> Taxes 4,168,148
<br /> Systems development charges 1,599,502
<br /> Municipal court 1,248,133
<br /> Assessments 232,349
<br /> Loans and notes 19,461,575
<br /> Subtotal 27,619,403
<br /> Allowance for uncollectibles (1,995,464)
<br />Net adjustment $ 25,623,939
<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 $458,969,309 difference are as follows:
<br />Capital assets (net of accumulated depreciation) reported
<br />in the Statement of Net Position - governmental activities column:
<br /> Land and construction in progress $ 124,533,880
<br /> Other capital assets (net of accumulated depreciation)366,268,608
<br />Capital assets (net of accumulated depreciation) reported
<br />in internal service funds included in the Statement of
<br />Net Position - governmental activities column (31,833,179)
<br />Net adjustment $ 458,969,309
<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 $85,832,929 difference are as follows:
<br />Bonds payable $ (69,884,919)
<br />Notes and contracts payable (5,280,000)
<br />Accrued interest payable (321,728)
<br />Compensated absences (10,346,282)
<br />Net adjustment $ (85,832,929)
<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 $106,149,135 difference are as follows:
<br />Deferred inflows related to pensions $ (9,660,624)
<br />Deferred inflows related to OPEB (286,324)
<br />Deferred outflows related to pensions 54,295,610
<br />Deferred outflows related to OPEB 1,720,409
<br />Net pension liability (144,538,357)
<br />Net OPEB liability (7,679,849)
<br />Net adjustment $ (106,149,135)
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<br />December 9, 2019, Meeting - Item 2CCC Agenda - Page 89
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