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II <br />CITY OF PARIS, TEXAS <br />Notes to Financial Statements (Continued) <br />September 30, 2024 <br />Reconciliation of Government -Wide and Fund Financial Statements (Continued) <br />A. Explanation of Certain Differences Between the Governmental Fund Balance Sheet and the GovernmentWide <br />Statement of Net Position (Continued) <br />Another element of that reconciliation explains that "long-term liabilities, including bonds payable, are not due <br />and payable in the current period and, therefore, are not reported in the funds." The details of this $34,540,598 <br />difference are as follows: <br />Bonds Payable $ 29,665,000 <br />Plus: Premiums on Bonds Payable (to be Amortized <br />Over the Life of the Debt) 1,287,309 <br />Tax Notes Payable 390,000 Financed Purchases 288,902 <br />Leases 348,687 SBITAs 676,048 <br />Accrued Interest 373,733 Compensated Absences 1,360,919 <br />Landfill Post -Closure Care Costs 150,000 <br />Net Adjustment to Reduce Fund Balance — Total Governmental Funds to Arrive at Net <br />Position — Governmental Activities $ 34,540,598 <br />B. Explanation of Certain Differences Between the Governmental Fund Statement of Revenues, Expenditures, <br />and Changes in Fund Balances and the Government -Wide Statement of Activities <br />The governmental fund statement of revenues, expenditures, and changes in fund balances includes a <br />reconciliation between net changes in fund balances — total governmental funds and changes in net position of <br />governmental activities as reported in the government -wide statement of activities. One element of that <br />reconciliation explains that "governmental funds report capital outlays as expenditures. However, in the statement <br />of activities, the cost of those assets is allocated over their estimated useful lives and reported as depreciation <br />expense." The details of this $244,559 difference are as follows: <br />Capital Outlay $ 3,000,498 <br />Depreciation Expense (3,245,057) <br />Net Adjustment to Increase Net Changes in Fund Balances - <br />Total Governmental Funds to Arrive at Changes in Net Position <br />Of Governmental Activities (244.5591 <br />Another element of that reconciliation states that "the net effect of various miscellaneous transactions involving <br />capital assets (i.e., sales and donations) is to increase net position." The details of this $1,541,522 difference are <br />as follows: <br />Donations of capital assets increase net position in the statement <br />52 <br />