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REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO <br />RECONCILIATION OF THE GOVERNMENTAL STATEMENT OF REVENUES <br />EXPENDITURES AND CHANGES IN FUND BALANCE TO THE GOVERNMENT - <br />WIDE STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS <br />FOR THE YEAR ENDED JUNE 30, 2010 <br />Net Change in Fund Balances - Total Governmental Funds $(10,329,140) <br />Amounts reported for governmental activities in the Statement of Net Assets are <br />different because: <br />Governmental funds report acquisition of capital assets as expenditures in various functions and <br />in capital outlay. However, in the Government -Wide Statement of Activities and Changes in <br />Net Assets, the cost of those assets is allocated over their estimated useful lives as <br />depreciation expense. This is the amount of capital assets recorded in the current period. 677,000 <br />Depreciation expense on capital assets is reported in the Government -Wide Statement of <br />Activities and Changes in Net Assets, but they do not require the use of current financial <br />resources. Therefore, depreciation expense is not reported as expenditure in governmental <br />funds. (109,309) <br />Bond proceeds provide current financial resources to Governmental Funds, but issuing <br />debt increases long - term liabilities in the Government -Wide Statement of Net Assets. <br />Repayment of bond principal is an expenditure in Governmental Funds, but the repayment <br />reduces long -term liabilities in the Government -Wide Statements of Net Assets. <br />This amount represents the difference between accrued and paid interest. <br />17,961 <br />This amount represents amortization of cost of issuance. <br />(24,353) <br />This amount represents amortization of bond discount and premium, net. <br />2,415 <br />This amount represents long -term debt repayment. <br />1,640,227 <br />Allowance for forgivable loans does not require current financial resources. Therefore, <br />the change in allowance for forgivable loans is not recorded as an expenses on the <br />Governmental funds. <br />(81,291) <br />Unearned revenues that do not provide current financial resources and are not reported <br />in the governmental funds. <br />343,260 <br />Changes in Net Assets of Governmental Activities <br />$ (7,863,230) <br />See accompanying notes to basic financial statements. <br />17 <br />