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<br />CITY OF CASSELBERRY, FLORIDA <br />RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS <br />TO THE STATEMENT OF NET ASSETS <br />September 30, 2005 <br /> <br />Total fund balances of governmental funds <br /> <br />Amounts reported for governmental activities in the statement of net <br />assets are different because: <br /> <br />Capital assets used in governmental activities are not financial <br />resources and, therefore, are not reported in the funds. The cost <br />01 the assets is $44,378,799, and the accumulated depreciation is <br />$14,819,282. <br /> <br />The internal service fund is used by management to charge the costs of <br />risk management services to individual funds. The assets and <br />liabilities of the internal service fund are included in governmental <br />activities in the statement of net assets. <br /> <br />Long-term liabilities are not due and payable in the current period and <br />accordingly are not reported as fund liabilities. Interest on long-term <br />debt is not accrued in governmental funds, but rather is recognized <br />as an expenditure when due. Allliabilities--both current and <br />long-term--are reported in the Statement of Net Assets. Long-term <br />liabilities at year-end consist of: <br />Notes payable $ <br />Capital lease payable <br />Compensated absences <br /> <br />14,726,940 <br />336,008 <br />800,740 <br /> <br />Deferred revenue from FEMA Public Assistance grant recognized as revenue <br />of the current period <br /> <br />Total net assets of governmental activities <br /> <br />The notes 10 the financial statements are an integral part of the financial statements. <br /> <br />18 <br /> <br />$ 16,450,063 <br /> <br />29,559,517 <br /> <br />1,031,931 <br /> <br />(15,863,688) <br /> <br />191,235 <br /> <br />$ 31,369,058 <br />