8G Consent 2008 0107 - Laserfiche WebLink

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REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO RECONCILIATION OF THE GOVERNMENTAL STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCE TO THE STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS FOR THE YEAR ENDED JUNE 30, 2007 Net Change in Fund Balances -Total Governmental Funds $ 3,179,264 Amounts reported for governmental activities in the Statement of Net Assets are different because: Governmental funds report acquisition of capital assets as expenditures in various functions and in capital outlay. However, in the Government-Wide Statement of Activities and Changes in Net Assets, the cost of those assets is allocated over their estimated useful lives as depreciation expense. There were no capital assets additions recorded in the current period. This is the depreciation for the year. (77,881) Bond proceeds provide current financial resources to Governmental Funds, but issuing debt increases long- term liabilities in the Government-Wide Statement of Net Assets. Repayment of bond principal is an expenditure in Governmental Funds, but the repayment reduces long-term liabilities in the Government-Wide Statements of Net Assets. This amount represents the difference between accrued and paid interest. 5,561 This amount represents amortization of bond premium. (10,987) This amount represents long-term debt repayment. 1,294,591 This amount represents amortization of bond discount. (4,107) Allowance for forgivable loans does not require current financial resources. Therefore, the change in allowance for forgivable loans is not recorded as an expenses on the Governmental funds. (293,588) Unearned revenues that do not provide current financial resources and are not reported in the governmental funds. 700,429 Changes in Net Assets of Governmental Activities $ 4,793,282 See accompanying notes to basic financial statements. 16