Comprehensive Annual Financial Report - City of Cerritos

City of Cerritos
Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Assets
June 30, 2010
Total Fund Balances - Total Governmental Funds $ 148,598,447
Amounts reported for governmental activities in the statement of net assets are different because:
Capital assets used in governmental activities are not financial resources and therefore are not
reported in governmental funds.
Cost $ 405,086,194
Less: Accumulated depreciation (107,027,352)
298,058,842
Revenue earned but not available to pay for current period expenditures for governmental funds
is deferred.
2,797,715
Internal service funds are used by management to charge the costs of various city activities to
individual government. The assets and liabilities of the internal service funds are included in
the statement of net assets.
15,493,315
Long-term liabilities applicable to the City governmental activities are not due and payable in
the current period and accordingly are not reported as fund liabilities. All liabilities, both
current and long-term, are reported in the Statement of Net Assets:
Tax allocation bonds payable $ (167,152,500)
Note payable (1,025,000)
Compensated absences payable (2,512,435)
Claims payable (1,917,561)
OPEB liabilities (2,015,775)
Unamortized bond premium (4,293,775)
Unamortized deferred charge on refunding of bonds 1,843,196
Unamortized bond discount 862,885
Unamortized issuance cost 1,407,931
(174,803,034)
Accrued interest payable for the interest due on long-term liabilities has not been reported in the
governmental funds.
(1,718,465)
Net Assets of Governmental Activities $ 288,426,820
See accompanying Notes to Basic Financial Statements.
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