Oliver City reported capital assets of $7,740,000 and accumulated depreciation of $3,600,000 in the governmental activities column of its government-wide statement of net position for the year ended December 31, 2021. The total governmental funds column in Olivers calendar year 2022 statement of revenues, expenditures, and changes in fund balances showed that Olivers capital outlay expenditures were $612,000. Oliver Citys director of finance estimated that total depreciation for 2022 was $360,000.

Partial Reconciliation of Governmental Funds Balance Sheet to Government-wide Statement of Net Position Amounts reported in the statement of net position are different because: Capital assets used in governmental activities and therefore in the Fund's balance sheet. Partial Reconciliation of Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to Government-Wide Statement of Activities Amounts reported in the Funds statement are different because: Governmental funds report capital assets as . In the statement of activities, the costs of capital assets are allocated over their useful lives as The amount by which in the current period exceeded is $x