2020 Comprehensive Annual Financial Report

Government-Wide Financial Statements Governmental Business-Type Activities Activities

Deferred Outflows of Resources Pension Deferrals - LGERS Pension Deferrals - LEOSSA Subtotal Pension Deferrals

$ 20,378,837 2,063,039 $ 22,441,876 $ 12,768,641 1,650,401 $ 14,419,042

$ 4,113,191

$ 4,113,191

Current Year Pension Contributions - LGERS Current Year Pension Contributions - LEOSSA Subtotal Current Year Pension Contributions

$ 2,577,178

$ 2,577,178

Liabilities Net Pension Liability - LGERS Net Pension Liability - LEOSSA Subtotal Net Pension Liability Deferred Inflows of Resources Pension Deferrals - LGERS Pension Deferrals - LEOSSA Subtotal Unearned Revenues

$

56,828,862 22,410,694 79,239,556

$ 11,470,132

$

$ 11,470,132

$ 859,596 2,548,902 $ 3,408,498

$ 173,498

$ 173,498

II. Reconciliation of Government-Wide and Fund Financial Statements A. Explanation of certain differences between the governmental fund balance sheet and the government-wide statement of net position. The governmental fund balance sheet includes reconciliation between fund balance – total governmental funds and net position – governmental activities as reported in the government – wide statement of net position. One element of that reconciliation explains that “long-term liabilities, including bonds payable, are not due and payable in the current period and therefore are not reported in the funds.”

The details of this $416,231,495 difference (including Premium of $29,311,379 and unamortized bond refunding charges of $517,468) are as follows:

Bonds and Notes Payable

$ 327,762,973

Limited Obligation Bonds and Notes Payable

69,845,938 1,744,000 13,336,197 3,542,387

Lease Purchase and Other Financing Agreements Payable

Compensated Absences Payable

Accrued Interest Payable

Combined Adjustment

$ 416,231,495

B. Explanation of certain differences between the governmental fund statement of revenues, expenditures, and change in fund balances and the government-wide statement of activities. The governmental fund statement of revenues, expenditures, and changes in fund balances include reconciliation between net changes in fund balances – total governmental funds and changes in net position of governmental activities as reported in the government-wide statement of activities. One element of that reconciliation explains that “Governmental funds report capital outlays as expenditures. However, in the statement of activities the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense”. 37m