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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 />JiJNE 30, 2008 <br />Total Fund Balances -Total Govemmental Funds <br />Amounts reported for govemmental activities in the Statement of Net Assets are different because: <br />Capital assets used in governmental activities are not current financial resources and therefore are not reported in the <br />Governmental Funds Balance Sheet. <br />Allowance for forgivable loans does not require current financial resources. Therefore, allowance for forgivable loans <br />is not recorded on the Governmental Funds Balance Sheet. <br />Interest payable on the long-term debt does not require current financial resources. Therefore, interest payable is not <br />reported as a liability in the Govemmental Funds Balance Sheet. <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 Net Assets. <br />Long-term liabilities are not due and payable in the current period and therefore they arc not reported in the <br />Govemmental Funds Balance Sheet. <br />Long-term liabilities (net) -current portion due within one year. <br />Long-term liabilities (net) -noncurrent portion. <br />Net Assets of Governmental Activities <br />See accompanying notes to basic financial statements. <br />$ 15,195,835 <br />7,320,051 <br />(1,070,279) <br />(411,533} <br />9,058,284 <br />(1,231,740) <br />(27,712,823) <br />$ 1,147,793 <br />14 <br />