The following information was available about items that differed between the governmental funds and the government-wide statements. Assume that there are no internal service funds. The schedule of capital assets prepared for the year ended December 31, 2020, included the following items:

The bond was issued at the beginning of the year and the following amortization schedule is available:

The total fund balances for governmental activities was $3,125,000 at the end of the year.

Required:

Prepare the reconciliation of the governmental fund balances to the net position reported for governmental activities on the Statement of Net Position as of December 31, 2020.

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Ending Beginning Balance Government Activities Total Capital Assets (at gross) Less: Accumulated Depreciation Net Capital Assets Additions Retirements Balance $(30,000) $800,000 $60,000 $830,000 (200,000) (40,000) $20,000 22,500 (217,500) $ (7,500) $600,000 $612,500 Interest Expense Cash Date Premium Amortization Balance Paid $104,213 1/1/2020 $6,253 $747 12/31/2020 $7,000 $103,466