| Reconciliation of the Statement of Revenues, Expenditures and Changes | ||
| in Fund Balances of Governmental Funds to the Statement of Activities | ||
| June 30, 2015 | ||
| (Expressed in Thousands) | ||
| Net Change in Fund Balances - Total Governmental Funds | $14,508 | |
| Amounts reported for governmental activities in the Statement of Activities | ||
| are different because: | ||
| Bond proceeds provide current financial resources to governmental funds. However, | ||
| issuing debt increases long term-liabilities in the Statement of Net Position. Bond | ||
| proceeds were received this year from: | ||
| Bonds Issued | (2,820,167) | |
| Refunding Bonds Issued | (709,210) | |
| Premium on Bonds Issued | (386,856) | (3,916,233) |
| Repayment of long-term debt is an expenditure in the governmental funds, but the | ||
| repayment reduces long-term liabilities in the Statement of Net Position. Long-term debt | ||
| repayments this year consisted of: | ||
| Principal Retirement | 1,421,518 | |
| Payments to Refunded Bond Escrow Agent | 780,530 | |
| Capital Lease Payments | 5,489 | 2,207,537 |
| Some capital assets acquired this year were financed with capital leases. The amount | ||
| financed by leases is reported in the governmental funds as a source of financing, but | ||
| lease obligations are reported as long-term liabilities on the Statement of Activities | (3,036) | |
| Capital outlays are reported as expenditures in the governmental funds. However, in the | ||
| Statement of Activities the cost of those assets is allocated over their estimated useful | ||
| lives and reported as depreciation expense. In the current period, these amounts and | ||
| other reductions were as follows: | ||
| Capital Outlays | 1,388,215 | |
| Depreciation Expense | (902,620) | |
| Retirements | (522) | 485,073 |
| Inventories are reported as expenditures in the governmental funds when purchased. | ||
| However, in the Statement of Activities the cost of these assets is recognized when those | ||
| assets are consumed. This is the amount by which consumption exceeded purchases of | ||
| inventories. | (2,218) | |
| Some expenses reported in the Statement of Activities do not require the use of current | ||
| financial resources and therefore are not reported as expenditures in governmental | ||
| funds. These activities consist of: | ||
| Increase in Accrued Interest | (12,064) | |
| Increase in Interest Accreted on Capital Appreciation Debt | (15,876) | |
| Amortization of Bond Premium | 154,104 | |
| Amortization of Loss on Debt Refundings | (18,750) | |
| Decrease in Compensated Absences Liability | 14,172 | |
| Increase in Workers Compensation Liability | (31,606) | |
| Increase in Claims and Judgments Liability | (29,436) | |
| Decrease in Landfill Liability | 566 | |
| ' Decrease in Net Pension Obligation | 2,559,621 | |
| Pension Cost, Net | 1,920,711 | |
| Increase in Net OPEB Obligation | (1,219,865) | 3,321,577 |
| Because some revenues will not be collected for several months after the state's fiscal | ||
| year ends, they are not considered "available" revenues and are deferred in the | ||
| governmental funds. Unearned revenues decreased by this amount this year. | (12,444) | |
| Internal service funds are used by management to charge the costs of certain activities, | ||
| such as insurance and telecommunications, to individual funds. The net revenue | ||
| (expense) of internal service funds is reported with the governmental activities. | 2,383 | |
| Change in Net Position of Governmental Activities | $2,097,147 |
The accompanying notes are an integral part of the financial statements.