The following information has been provided for the City of Elizabeth for its fiscal year ended June 30. The information provided relates to financial information reported on the citys statement of net position and its total governmental funds balance.

Deferred inflows of resources due to unavailability of resources to pay current expenditures	$	364,600
Capital assets		641,600
Accumulated depreciation on capital assets		356,800
Accrued interest on bonds and long-term notes payable		2,900
Bonds and long-term notes payable		177,600
Unamortized premium on bonds payable		2,400
Compensated absences		16,700
Total governmental fund balances		162,800
Total net position of governmental activities		612,600

Required Prepare reconciliation of the governmental fund balances to the net position of governmental activities. (Decreases should be indicated with a minus sign.) CITY OF ELIZABETH Reconciliation of the Balance Sheet-Governmental Funds to the Statement of Net Position June 30, 20XX Total fund balances-governmental funds 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 by funds. Other assets used in governmental activities are not financial resources and therefore are not reported by funds. Long-term liabilities, including bonds payable, are not due and payable in the current period and therefore are not reported in the funds. Accrued interest payable is not due in the current period and therefore is not included in the funds. Net position of governmental activities