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I1 <br />►. <br />• <br />:j <br />u <br />C7 <br />:J <br />• <br />• <br />• <br />LOWER SOUTH PLATTE WATER CONSERVANCY DISTRICT <br />RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS <br />TO THE STATEMENT OF NET ASSETS <br />As of December 31, 2011 <br />Differences between the amounts reported for govenmental activities in the statement <br />of net assets and amounts reported in the governmental funds: <br />Total Fund Balance - Governmental Funds $402,939 <br />Notes receivable are not a current financial resource as they are not available <br />to pay for current period expenditures and, therefore are not reported <br />in the governmental funds. 6,939 <br />Capital assets used in governmental activities are not financial resources <br />and therefore are not reported as assets in governmental funds. 166,900 <br />In the statement of activities, insurance (an operating expense) is measured <br />by the amount incurred during the year. In the governmental funds, <br />however, expenditure for this item is measured by the amount of <br />financial resources used (essentially, the amount actually paid) 3,653 <br />Accrued interest on long -term obligations is not due and payable in the <br />current period and therefore is not reported in the governmental funds. (96) <br />Long -term liabilities are not due and payable in the current period and <br />therefore are not reported as liabilities in the governmental funds. 3,516 <br />Net Assets of the Governmental Activities $576,819 <br />The accompanying notes are an integral part of these financial statements. <br />0 -10- <br />