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City of Paris, Texas <br />Notes to Financial Statements <br />September 30, 2012 <br />II. Reconciliation of Government-wide and Fund Financial Statements (Continued) <br />A. Explanation of Certain Differences Between the Governmental Fund Balance Sheet and the <br />Government-wide Statement of Net Assets (Continued) <br />Another element of that reconciliation explains that "long-term liabilities, including bonds <br />payable, are not due and payable in the current period and, therefore, are not reported in the <br />funds." The details ofthis $11,653,285 difference are as follows: <br />Bonds Payable <br />Less: Deferred Charge for Issuance Costs (to be Amortized <br />Over the Life of the Debt) <br />Plus: Premiums on Bonds Payable (to be Amortized <br />Over the Life of the Debt) <br />Accrued Interest <br />Compensated Absences <br />OPEB Liability <br />Landfill Post Closure Care Costs <br />Net Adjustment to Reduce Fund Balance - Total Governmental Funds <br />to Arrive at Net Assets - Governmental Activities <br />$ 10,750,600 <br />(246,566) <br />82,924 <br />48,306 <br />776,512 <br />174,636 <br />66,873 <br />$ 11,653,285 <br />B. Explanation of Certain Differences Between the Governmental Fund Statement of Revenues, <br />Expenditures 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 <br />a reconciliation between net changes in fund balances — total governmental funds and changes in <br />net assets of governmental activities as reported in the government-wide statement of activities. <br />One element of that reconciliation explains that "governmental funds report capital outlays as <br />expenditures. However, in the statement of activities the cost of those assets is allocated <br />over their estimated useful lives and reported as depreciation expense." The details of <br />this $389,489 difference are as follows: <br />Capital Outlay <br />Depreciation Expense <br />Net Adjustment to Increase Net Changes in Fund Balances - <br />Total Governmental Funds to Arrive at Changes in Net Assets <br />of Governmental Activities <br />33 <br />$ 3,166,229 <br />(2,776,740) <br />$ 389,489 <br />