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CITY OF PARIS, TEXAS Notes to Financial Statements (Continued) September 30, 2023 II: Reconciliation_of Government -Wide and Fund Financial Statements (Continued) A. Explanation of Certain Differences Between the Governmental Fund Balance Sheet and the Government - Wide Statement of Net Position (Continued) Another element of that reconciliation explains that "long-term liabilities, including bonds payable, are not due and payable in the current period and, therefore, are not reported in the funds." The details of this $12,860,320 difference are as follows: Bonds Payable Plus: Premiums on Bonds Payable (to be Amortized Over the Life of the Debt) Tax Notes Payable Financed Purchases Leases SBITAs Accrued Interest Compensated Absences Landfill Post -Closure Care Costs Net Adjustment to Reduce Fund Balance — Total Governmental Funds to Arrive at Net Position — Governmental Activities $ 9,860,000 86,562 580,000 461,737 178,441 167,524 78,341 1,297,715 150,000, _12 860.,32.0.. B. Explanation of Certain Differences Between the Governmental Fund Statement of Revenues, Expenditures, and Changes in Fund Balances and the Government -Wide Statement of Activities The governmental fund statement of revenues, expenditures, and changes in fund balances includes a reconciliation between net changes in fund balances — total governmental funds and changes in net position of governmental activities as reported in the government -wide statement of activities. One element of that reconciliation explains that "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." The details of this $649,333 difference are as follows: Capital Outlay $ 2,250,937 Depreciation Expense Net Adjustment to Increase Net Changes in Fund Balances - Total Governmental Funds to Arrive at Changes in Net Position Of Governmental Activities 42