Distrito Escolar del - Osceola County School District

DISTRICT SCHOOL BOARD OF OSCEOLA COUNTY
RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET
TO THE GOVERNMENT-WIDE STATEMENT OF NET ASSETS
For the Fiscal Year Ended June 30, 2012
Total Fund Balances - Governmental Funds $ 159,443,793.50
Amounts reported for governmental activities in the statement of net assets are different because:
Capital assets, net of accumulated depreciation, used in governmental activities are not
financial resources and, therefore, are not reported as assets in the governmental funds. 785,785,144.67
Debt issuance costs are not expensed in the government-wide statements, but are reported
as deferred charges and amortized over the life of the debt. 2,140,997.13
Deferred amount on refunding is not expensed in the government-wide statements, but is
reported as deferred charges until the refunded bonds become defeased. 1,305,198.75
Internal service funds are used by management to charge the costs of certain activities,
such as insurance, to individual funds. The assets and liabilities of the internal service funds
are included in governmental activities in the statement of net assets. 21,792,696.10
Interest on long-term debt is accrued as a liability in the government-wide statements, but is not
recognized in the governmental funds until due. (2,328,316.42)
Unearned revenue associated with noncash impact fee credits are accrued in the government-wide
statements but are not recognized in the governmental funds. (330,247.24)
Long-term liabilities are not due and payable in the current period and, therefore, are not
reported as liabilities in the governmental funds. Long-term liabilities at year-end consist of:
Bonds Payable $ 82,639,229.44
Notes Payable 16,044,967.50
Installment-Purchases Payable 343,646.24
Certificates of Participation Payable 199,375,636.66
Educational Facility Benefit District Agreement Payable 9,346,114.62
Compensated Absences Payable 22,073,854.00
Other Post-employment Benefits Obligations 32,583,152.00 $ (362,406,600.46)
Total Net Assets - Governmental Activities $ 605,402,666.03
The accompanying notes to financial statements are an integral part of this statement.
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