2008 CAFR Part 2 - Laserfiche WebLink

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I COUNTY OF HAWAII Reconciliation of the Change in Fund Balances of Governmental Funds to the Statement of Activities For the Fiscal Year Ended June 30,2008 Net change in fund balances-total governmental funds $ (32,357,511) Amounts reported for governmental activities in the statement of activities are i. different because: Capital outlays are reported as expenditures in governmental funds. { f 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 and dedicated property 84,425,791 Depreciation expense and loss on disposals (21,678,112) Excess of capital outlay over depreciation expense 62,747,679 t Borrowings provide current financial resources to governmental funds; however,issuing debt increases long-term liabilities in the statement of net assets. In the current period,proceeds were received from: 1 General obligation bonds,net of refunding - Premium on bond issuance - Deferred amount on refunding of bonds - SRF loan obligations (1,916,040) j Capital lease obligations (2,187,502) Total debt proceeds (4,103,542) 'i 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 assets. In the current year,these amounts consist of: 1 Bond principal retirement,net of refunding 12,096,138 SRF loan repayment 2,786,605 Capital lease payments 1,666,711 Total long-term debt repayment 16,549,454 Because some revenues will not be collected for several months after the County's fiscal year end,they are not considered"available"revenues and f are"deferred"in the governmental funds. Unearned revenues increased by { this amount this year. 2,422,309 (Continued) ! f i -34- 1 I