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REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO <br />RECONCILIATION OF GOVERNMENTAL FUNDS BALANCE SHEET WITH <br />THE STATEMENT OF NET ASSETS <br />JUNE 30, 2007 <br />Total Fund Balances -Total Govenunental Funds $ 14,863,208 <br />Amounts reported for governmental activities in the Statement of Net Assets are different because: <br />Capital assets used in governmental activities are not current financial resowces and therefore are not reported in the <br />Govennnental Funds Balance Sheet. 7,292,082 <br />Allowance for forgivable loans does not require current futancial resources. Therefore, allowance for forgivable loans <br />is not recorded on the Governmental Funds Balance Sheet (1,327,569) <br />Interest payable on the long-teen debt does not require current financial resowces. Therefore, interest payable is not <br />reported as a liability in the Governmental Funds Balance Sheet (424,889) <br />Revenues which are deferred on the Funds Balance Sheet because they are not available currently and taken into <br />revenue in the Statement of Activities and accordingly, increases the net assets on the Statement of Diet Assets. 6,719,515 <br />Long-term liabilities are not due and payable in the current period and therefore they are not reported in the <br />Governmental Funds Balance Sheet. <br />Long-term liabilities (net) -current portion due within one year. (1,156,943) <br />Long-term liabilities (net) -noncurrent portion. (28,907,827) <br />Net Assets of Governmental Activities $ (2,942,423) <br />See accompanying notes to basic financial statements. <br />14 <br />