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Exhibit A-6
Amounts reported for governmental activities in the statement of activities
are different because:
Net change in fund balances----total governmental funds.
4,691,551
$
Governmental funds report capital outlays as expenditures. However,
in the statement of activities the cost of those assets is allocated over
their estimated useful lives and reported as depreciation expense.
This is the amount by which capital outlays exceeded depreciation in
the current period, including amounts for disposals.
5,798,496
Contributions to the pension plan in the current fiscal year are not included
in the Statement of Activities.
7,938,808
Revenues in the statement of activities that do not provide current
financial resources are not reported as revenues in the funds.
2,712,852
The issuance of long-term debt (e.g., bonds, leases) provides current
financial resources to governmental funds, while the repayment of the
principal of long-term debt consumes the current financial resources
of governmental funds. Neither transaction, however, has any effect
on net position. Also, governmental funds report the effect of
premiums, discounts, and similar items when debt is first issued,
whereas these amounts are unearned and amortized in the statement
of activities. Includes OPEB and compensated absence activities.
(7,175,974)
Internal service funds are used by management to charge the costs of
equipment services, technical services, information services, metro
communications, graphic services, employee risk retention, general risk retention,
and capital leasing to individual funds. The net revenue of certain activities
of internal service funds is reported with governmental activities.
(3,743,507)
Some expenses reported in the Statement of Activities do not require the use
of current financial resources and, therefore, are not reported as expenditures
in governmental funds - Pension expense - LGERS Plan.
(4,753,683)
Revenues earned in prior year that first became available in the current
year in the government funds have been reclassed to beginning net
position in the statement of activities.
(2,702,242)
Change in net position of governmental activities
2,766,301
$
For the Fiscal Year Ended June 30, 2016
Expenditures, and Changes in Fund Balances of Governmental Funds
City of Greensboro
Reconciliation of the Statement of Revenues,
To the Statement of Activities
The notes to the financial statements are an integral part of this statement.