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J <br />• <br />J <br />LOWER SOUTH PLATTE WATER CONSERVANCY DISTRICT <br />RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES <br />IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES <br />For the Year Ended December 31, 2011 <br />Differences between the amounts reported as changes in net assets in the <br />statement of activites compared to the change in fund balance are as follows: <br />Net change in Fund Balance - Governmental Funds <br />Capital outlays to purchase or build capital assets are reported in the <br />govenmental funds as expenditures. However, for governmental <br />activites, those costs are shown in the statement of net assets and <br />allocated over their estimated useful lives as annual depreciation <br />expense in the statement of activities. This is the amount by which <br />depreciation exceeded captial outlays in the current period. <br />In the statement of activities, certain expenditures - insurance and interest - <br />are measured by the amount incurred during the year. In the <br />governmental funds, however, expenditure for these items are <br />measured by the amount of financial resources used (essentially <br />the amount actually paid). <br />Annual lease payaments on long term lease contracts are not collected <br />for several months after the fiscal year ends, they are not considered <br />• as "available" revenues in the governmenal funds. They are recorded <br />in the fund financials statements when the revenues are received. <br />• <br />• <br />• <br />$ (5,851) <br />(10,972) <br />(1,144) <br />(6,940) <br />In the governemental funds, loan principle payments are measured using <br />current financial resources, however, in the statement of net assets <br />they are recorded as a reduction in the note payable. 6,361 <br />Change in Net Assets of Governmental Activites <br />$ (18, 546 <br />The accompanying notes are an integral part of these financial statements. <br />• -12- <br />