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COUNTY OF HAWAII <br />Reconciliation of the Change in Fund Balances of Governmental Funds <br />to the Statement of Activities <br />For the Fiscal Year Ended June 30, 2020 <br />Net change in fund balances - total governmental funds <br />Amounts reported for governmental activities in the statement of activities are <br />different because: <br />Capital outlays are reported as expenditures in governmental funds. <br />However, in the statement of activities, the cost of capital assets is <br />allocated over their estimated useful lives as depreciation expense. In <br />the current period, these amounts are: <br />$ 25.712.937 <br />Capital outlay 59.865.516 <br />Dedicated and contributed property 21,564.947 <br />Depreciation expense and loss on disposals (48.960.691) <br />Excess of capital outlay over depreciation expense -. 32.469.772 <br />Borrowings provide current financial resources to governmental funds: <br />however, issuing debt increases long-term liabilities in the statement <br />of net position. In the current period, assets financed through: <br />Reclass of notes payable to long-term debt (note 10) (30.000.000) <br />State Revolving Fund loans (174.021) <br />Capital leases (2.821.423) <br />. ............ . <br />Total debt proceeds (32.995.444) <br />Repayment of long-term debt is reported as an expenditure in governmental <br />funds, but the repayment reduces long-term liabilities in the statement of <br />net position. In the current year, these amounts consist of: <br />Bond principal retirement 23.092.308 <br />State Revolving Fund loan repayments/forgiveness 2.499.903 <br />Capital lease payments 3,629.646 <br />Total long-term debt repayment29.22@.857 <br />Because some revenues will not be collected for several months after the <br />County's fiscal year end, they are not considered "available" revenues and <br />are "deferred" in the governmental funds. Unearned revenues increased by <br />this amount this year. 1,994.423 <br />(Continued) <br />