2012 Comprehensive Annual Financial Report - City of Oklahoma City

RECONCILIATION OF THE STATEMENT OF REVENUES, CITY OF OKLAHOMA CITY, OKLAHOMA
EXPENDITURES, AND CHANGES IN FUND BALANCES OF
GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
For the Year Ended June 30, 2012
(dollars are in thousands)
Net change in fund balances – total governmental funds
$98,045
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 and reported as depreciation expense.
$0
Capital outlay $123,236 $0
Depreciation expense (62,464) 60,772
In the statement of activities, the loss on the disposal of assets is reported, whereas in the governmental funds, the
proceeds from the sale increase financial resources. The change in net assets differs from the change in fund balance
by the cost of the assets disposed, net of related accumulated depreciation.
Sale of assets - governmental funds
Loss on disposal of assets - government-wide
Donations of capital assets increase net assets in the statement of activities, but do not appear in the governmental
funds because they are not financial resources.
Revenues in the statement of activities that do not provide current financial resources are not reported as revenues in
the funds. Also, in the prior year, earned, but unavailable, revenue was reported as revenue in the statement of
activities and in the current year, it is recognized in the governmental funds and reversed in the statement of activities.
$0
-
($458)
309 (149)
11,889
Current Year Prior Year
Deferred revenues reported in governmental funds $13,224 ($19,733)
Unearned revenues in the statement of activities (3,714) 6,341
EMSA joint venture equity interest 7,966 (6,377) (2,293)
The proceeds of debt issuances provide current financial resources to governmental funds, but issuing debt increases
long-term liabilities in the statement of net assets. Repayment of debt principal is an expenditure in the governmental
funds, but the repayment reduces long-term liabilities in the statement of net assets.
Debt activity reported in fund statements
Long-term debt issued
Premium on bonds
Capital financing
Debt principal
Bond issuance costs
Payment to bond escrow agent
Interest on debt - governmental funds
($130,110)
(19,407)
(405)
46,700
521
104,881
22,851
Capital lease principal payments
$0
$0 49
Internal service funds debt activity
Capital lease principal payments $0
$0 11
Debt activity recognized in the statement of activities
Interest on long-term debt
(20,824) 4,267
Some expenses reported in the statement of activities do not require the use of current financial resources and are not
reported as expenditures in governmental funds.
Current Year Prior Year
Compensated absences
($70,311) $70,200
Compensated absences - internal service funds
2,003 (1,873)
Other post-employment benefit liability
(76,473) 62,998
Other post-employment benefit liability - internal service funds
2,599 (2,115)
Expenses not available for fund reporting (arbitrage payable)
1,018 - (11,954)
Internal service funds are used by management to charge the costs of internal activities.
Internal service fund changes in net assets
Business-type activities net activities due to governmental type activities
($3,186)
1,675 (1,511)
Change in net assets of governmental activities
CK TO GOV WIDE
$159,066
$0
See accompanying notes to financial statements.
33