Can you find the reconciliation from Government-Wide Financials to Fund Financials? What does this reconciliation tell you?

CITY OF ANNAPOLIS, MARYLAND RECONCILIATION OF THE BALANCE SHEETS OF THE GOVERNMENTAL FUNDS TO NET POSITION OF GOVERNMENTAL ACTIVITIES JUNE 30, 2019 $ 35,592,041 118,499,668 Total Governmental Fund Balances Amounts reported for governmental activities in the statement of net position are different because: Capital assets used in governmental activities are not financial resources, and therefore, are not reported in the funds Other long-term assets are not available to pay for current-period expenditures and therefore, are deferred in the funds Long-term liabilities are not due and payable in the current period and therefore are not reported in the funds. Compensated absences Accrued interest OPEB Net pension liability 236,604 (1,432,224) (1,084,464) (41,748,442) (45,281,060) (89,546,190) Long-term liabilities related to bonds payable are not due and payable in the current period and, therefore, are not reported in the funds. General obligation debt Loss on refunding deferred outflow (70,919,842) 778,257 (70,141,585) 8,414,546 The net effect of the deferred outflows and deferred inflows of resources recorded in conjunction with the recognition of the pension liability is shown in the governmental activities but not included in the governmental statements. The net effect of the deferred outflows and deferred inflows of resources recorded in conjunction with the recognition of the OPEB liability is shown in the governmental activities but not included in the governmental statements. Internal service funds are used by management to charge the costs of self insurance to individual funds. The assets and liabilities of the internal service funds are included in governmental activities in the statement of net position. Net position of Governmental Activities (1,988,874) 4,288,838 $ 5,355,048 CITY OF ANNAPOLIS, MARYLAND RECONCILIATION OF THE STATEMENTS OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE OF GOVERNMENTAL FUNDS YEAR ENDED JUNE 30, 2019 Net Change in Fund Balance - Total Governmental Funds $ (1,118,743) Amounts reported for governmental activities in the statement of activities are different because: 5,552,093 (3,505,667) 2,046,426 (26,800) 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 as depreciation expense. This is the amount by which capital outlays exceeded depreciation and loss on disposal in the current period Capital Outlay Depreciation Expense In the statement of activities, only the gain or loss on capital assets is reported. However, in the governmental funds, all proceeds or losses are reported as financial resources. Thus, the change in net position differs from the change in fund balance by the value of disposed capital assets. Some revenues will not be collected for several months after the fiscal year ends. As such these revenues are not considered "available" and are deferred in the governmental funds. Deferred inflows increased this year. The issuance of long-term debt 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. This amount is the net effect of these differences in the treatment of long-term debt and related items. Debt issued or incurred: Bond anticipation note Amortization of premium Amortization of loss on refunding Principal repayments General obligation bonds (35,671) (390,486) 603,670 (472,727) 5,021,215 4,761,672 (432,263) (24,941) (457,204) 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. Increase in compensated absences Increase in accrued interest payable Long-term liabilities for pension and OPEB are presented in the government-wide statements but are not in the governmental fund statements. Net effect of the expenses for recording pension liability from employee retirement plans. Net effect of the expenses for recording OPEB liability from the other post-employee benefit plan. Internal service fund is used by management to charge the costs of self insurance to individual funds. The net expense of this internal service fund is reported with governmental-wide activities but not in the governmental funds. (5,180,199) (485,060) 2,695,458 Change in Net Position of Governmental Activities $ 2.199,879 CITY OF ANNAPOLIS, MARYLAND RECONCILIATION OF THE BALANCE SHEETS OF THE GOVERNMENTAL FUNDS TO NET POSITION OF GOVERNMENTAL ACTIVITIES JUNE 30, 2019 $ 35,592,041 118,499,668 Total Governmental Fund Balances Amounts reported for governmental activities in the statement of net position are different because: Capital assets used in governmental activities are not financial resources, and therefore, are not reported in the funds Other long-term assets are not available to pay for current-period expenditures and therefore, are deferred in the funds Long-term liabilities are not due and payable in the current period and therefore are not reported in the funds. Compensated absences Accrued interest OPEB Net pension liability 236,604 (1,432,224) (1,084,464) (41,748,442) (45,281,060) (89,546,190) Long-term liabilities related to bonds payable are not due and payable in the current period and, therefore, are not reported in the funds. General obligation debt Loss on refunding deferred outflow (70,919,842) 778,257 (70,141,585) 8,414,546 The net effect of the deferred outflows and deferred inflows of resources recorded in conjunction with the recognition of the pension liability is shown in the governmental activities but not included in the governmental statements. The net effect of the deferred outflows and deferred inflows of resources recorded in conjunction with the recognition of the OPEB liability is shown in the governmental activities but not included in the governmental statements. Internal service funds are used by management to charge the costs of self insurance to individual funds. The assets and liabilities of the internal service funds are included in governmental activities in the statement of net position. Net position of Governmental Activities (1,988,874) 4,288,838 $ 5,355,048 CITY OF ANNAPOLIS, MARYLAND RECONCILIATION OF THE STATEMENTS OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE OF GOVERNMENTAL FUNDS YEAR ENDED JUNE 30, 2019 Net Change in Fund Balance - Total Governmental Funds $ (1,118,743) Amounts reported for governmental activities in the statement of activities are different because: 5,552,093 (3,505,667) 2,046,426 (26,800) 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 as depreciation expense. This is the amount by which capital outlays exceeded depreciation and loss on disposal in the current period Capital Outlay Depreciation Expense In the statement of activities, only the gain or loss on capital assets is reported. However, in the governmental funds, all proceeds or losses are reported as financial resources. Thus, the change in net position differs from the change in fund balance by the value of disposed capital assets. Some revenues will not be collected for several months after the fiscal year ends. As such these revenues are not considered "available" and are deferred in the governmental funds. Deferred inflows increased this year. The issuance of long-term debt 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. This amount is the net effect of these differences in the treatment of long-term debt and related items. Debt issued or incurred: Bond anticipation note Amortization of premium Amortization of loss on refunding Principal repayments General obligation bonds (35,671) (390,486) 603,670 (472,727) 5,021,215 4,761,672 (432,263) (24,941) (457,204) 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. Increase in compensated absences Increase in accrued interest payable Long-term liabilities for pension and OPEB are presented in the government-wide statements but are not in the governmental fund statements. Net effect of the expenses for recording pension liability from employee retirement plans. Net effect of the expenses for recording OPEB liability from the other post-employee benefit plan. Internal service fund is used by management to charge the costs of self insurance to individual funds. The net expense of this internal service fund is reported with governmental-wide activities but not in the governmental funds. (5,180,199) (485,060) 2,695,458 Change in Net Position of Governmental Activities $ 2.199,879