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<br /> <br /> <br /> City of Paris, Texas <br /> Notes to Financial Statements <br /> September 30, 2009 <br /> <br /> <br /> 1. Summa of Si nifi ant Accounting Policies (Continued) <br /> <br /> D. Assets, Liabilities and Equity (Continued) <br /> <br /> 8. Fund Equi <br /> <br /> In the fun financial statements, governmental funds report reservations of fund balance for <br /> amounts that are not available for appropriation or are legally segregated for a specific <br /> purpose. Designations of fund balance represent tentative management plans that are subject <br /> to change. <br /> 11. Reconciliation of Government-Wide and Fund Financial Statements <br /> <br /> A. Explanation o Certain Differences Between the Governmental Fund Balance Sheet and the <br /> Government-Wide Statement of Net Assets <br /> <br /> The governmental fund balance sheet includes a reconciliation between fund balance - total <br /> governmental funds and net assets - governmental activities as reported in the government-wide <br /> statement of et assets. One element of that reconciliation explains that "long-term liabilities, <br /> including bons payable, are not due and payable in the current period and therefore are not <br /> reported in the funds." The details of this $11,478,135 difference are as follows: <br /> Bonds Pa able $ 10,680,400 <br /> Less: Deferred Charge for Issuance Costs (to be Amortized <br /> over the Life of the Debt) (171,779) <br /> Accrued Interest Payable 140,966 <br /> Loan Payable 17,994 <br /> Compens ed Absences 706,192 <br /> OPEB Li ility 19,519 <br /> Landfill Post Closure Care Costs 84,843 <br /> Net Adjus -merit to Reduce Fund Balance - Total Governmental Funds <br /> to Arrive at Net Assets - Governmental Activities $ 11,478,135 <br /> <br /> B. Explanation f Certain Differences Between the Governmental Fund Statement of Revenues, <br /> Expenditures, and Changes in Fund Balances and the Government-Wide Statement of Activity <br /> <br /> The governmental fund statement of revenues, expenditures, and changes in fund balances <br /> includes a reconciliation between net changes in fund balances -total governmental funds and <br /> changes in ne assets of governmental activities as reported in the government-wide statement of <br /> activities. One element of that reconciliation explains that "governmental funds report capital <br /> outlays as expenditures. However, in the statement of activities the cost of those assets is <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> 31 <br />