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Exhibit 4 <br />(continued) <br />City of Louisville <br />Reconciliation of the Statement of Revenues, <br />Expenditures, and Changes in Fund Balances of Governmental Funds <br />to the Statement of Activities <br />For the Year Ended December 31, 2008 <br />Net change in fund balances - total governmental funds150,757 <br />mounts reported for governmental activities in the statement of net <br />A <br />activities (Exhibit 2) are different because: <br />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 <br />reported as depreciation expense. This is the amount by which net capital outlays <br />$4,468,855 exceeded depreciation ($3,266,725) in the current period. 1,202,130 <br />Some expenses reported in the statement of activities do not require the use of current <br />financial resources and therefore are not reported as expenditures in governmental <br />funds. <br /> 12,038 <br />Repayment of bond principal is an expenditure in the governmental funds, but the <br />repayment reduces long-term liabilities in the statement of net assets. This is the <br />amount of debt repayments. <br /> 670,000 <br />nterna servceuns are usey management to carge te costs o certan <br />Ilifddbhhfi <br />activities, such as fleet, computer replacement and insurance to individual funds. The <br />aggregate net revenue of certain internal service funds is reported with governmental <br />activities. <br />110,012 <br />Change in net assets of governmental activities2,144,936 <br />$ <br />The notes to the financial statements are an integral part of this statement. <br /> <br />