COG Comprehensive Annual Financial Report

-10- Exhibit A-6

City of Greensboro Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds To the Statement of Activities For the Fiscal Year Ended June 30, 2018

Amounts reported for governmental activities in the statement of activities are different because:

Net change in fund balances----total governmental funds.

$

16,174,518

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. This is the amount by which capital outlays and capital contributions exceeded depreciation in the current period, including amounts for disposals.

14,255,457

Revenues in the statement of activities that do not provide current financial resources are not reported as revenues in the funds.

4,464,255

The issuance of long-term debt (e.g., bonds, leases) provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources of governmental funds. Neither transaction, however, has any effect on net position. Also, governmental funds report the effect of premiums, discounts, and similar items when debt is first issued, whereas these amounts are unearned and amortized in the statement of activities. Includes compensated absence activities. Internal service funds are used by management to charge the costs of equipment services, technical services, information services, metro communications, graphic services, employee risk retention, general risk retention, and capital leasing to individual funds. The net revenue of certain activities of internal service funds is reported with governmental activities. 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. Contributions to the pension plan in the current fiscal year are not included in the Statement of Activities, as well as certain deferred inflows and outflows: LGERS Plan LEOSSA Plan OPEB Plan

(17,288,102)

313,393

91,441 800,046 (8,111,275)

Revenues earned in prior year that first became available in the current year in the government funds have been reclassed to beginning net position in the statement of activities.

(4,269,263)

Change in net position of governmental activities

$

6,430,470

The notes to the financial statements are an integral part of this statement.