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Bellyache Ridge Metropolitan District <br /> Reconciliation of the Statement of Revenues, Expenditures <br /> and Changes in Fund Balances of Governmental Funds <br /> to the Statement of Activities <br /> For the Year Ended December 31, 2012 <br /> ,Amounts reported for governmental activities in the statement of activities are different because: <br /> Net change in fund balance—total governmental funds $ (483,923) <br /> Governmental funds report capital outlays as expenditures. In the <br /> statement of activities, capital outlay is not reported as an expenditure; <br /> h wever,the statement of activities will report as depreciation expense <br /> t e allocation of the cost of any depreciable asset over the estimated <br /> u eful life of the asset. <br /> Capitalized assets 524,525 <br /> Depreciation (26,372) <br /> Ciange in net position of governmental activities $ 14,230 <br /> The accompanying notes are an integral part of these financial statements. <br /> 5 <br />