COM 0770.000 2020-2022 - Laserfiche WebLink

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COUNTY OF HAWAII Reconciliation of the Change in Fund Balances of Governmental Funds to the Statement of Activities For the Fiscal Year Ended June 30,2021 Net change in fund balances-total governmental funds $ 80,615,115 Amounts reported for governmental activities in the statement of activities are different because: Capital outlays are reported as expenditures in governmental funds. However,in the statement of activities,the cost of capital assets is allocated over their estimated useful lives as depreciation expense. In the current period,these amounts are: Capital outlay 68,008,087 Dedicated and contributed property 3,932,991 Depreciation expense and loss on disposals (50,367,645) Excess of capital outlay over depreciation expense 21,573,433 Borrowings provide current financial resources to governmental funds; however,issuing debt increases long-term liabilities in the statement of net position. In the current period,assets financed through: General obligation bonds,net of refunding (66,308,500) Premium on bond issuance (17,745,254) Deferred amount on refunding of bonds 132,902 State Revolving Fund loans (16,187,624) Capital leases (4,900,952) Total debt proceeds (105,009,428) Repayment of long-term debt is reported as an expenditure in governmental funds,but the repayment reduces long-term liabilities in the statement of net position. In the current year,these amounts consist of: Bond principal retirement 24,501,656 Bond anticipation notes 30,000,000 State Revolving Fund loan repayments 3,181,134 Capital lease payments 4,922,155 Total long-term debt repayment 62,604,945 Because some revenues will not be collected for several months after the County's fiscal year end,they are not considered"available"revenues and are"deferred"in the governmental funds. Unearned revenues increased by this amount this year. 3,850,162 (Continued) - 36-