City of Raleigh
RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF NET POSITION
June 30, 2016
for governmental funds
reported for governmental activities in the statement of net position is different because:
Deferred outflows of resources related to pensions are not reported in the funds
Earned Vacation Pay
Net pension liability
Accrued Interest Payable
Deferred inflows of resources related to pensions are not reported in the funds
Net position of governmental activities
The notes to the financial statements are an integral part of this statement.
Some liabilities, including bonds payable, are not due and payable in the current period and therefore are not
reported in the funds. See below for detail regarding these liabilities.
General obligation Bonds - long-term, net of issuance premium
Installment Financing Agreements - long-term, net of unamortized refunding charges
and issuance premium
The net pension assets/liabilities resulting from contributions greater than or less than the amount of annual
required contributions are not financial resources and therefore are not reported in the funds.
Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds.
(Land and construction in progress - $461,867,906 capital assets being depreciated, net - $619,619,102).
Deferred issuance costs are reported as expenditures in the funds because current financial resources are used. In the
governmental activities issuance costs are recorded as a long-term asset and amortized over the life of the debt.
Internal service funds are used by management to charge the costs of certain activities, such as risk management,
employees' health benefits, equipment replacement and vehicle fleet services to individual funds. The assets and
liabilities of certain internal service funds are included in governmental activities in the statement of net position.
Taxes receivable - $274,472, and assessments receivable - $773,466, will be collected after year-end, but are not
available soon enough to pay for the current period's expenditures and therefore are reported as deferred inflows of
resources in the funds.