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i <br /> i <br /> i <br /> COUNTY OF HAWAII <br /> Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Assets <br /> June 30,2008 <br /> Total fund balances-governmental funds $254,512,169 <br /> Amounts reported for governmental activities in the statement of <br /> net assets are different because: <br /> Capital assets used in governmental activities are not financial <br /> resources and therefore are not reported in the funds. These assets <br /> consist of: <br /> Land 28,187,574 <br /> hifrastructure assets,net 162,915,082 <br /> Buildings and improvements,net 247,018,221 <br /> Equipment,net 45,506,721 <br /> Construction work in progress 125,041,851 <br /> i <br /> Total capital assets 608,669,449 <br /> Some of the County's revenues will be collected after year-end but are <br /> not available soon enough to pay for the current period's expenditures <br /> and therefore are deferred(unearned)in the funds.(note 7) 13,076,196 <br /> Some liabilities are not due and payable in the current period and <br /> therefore are not reported in the funds. Those liabilities consist of: i <br /> Bonds and loans payable,net of receivable j <br /> from improvement district (285,165,598) <br /> Accrued interest on bonds (5,295,619) <br /> Capital leases (4,6065527) <br /> Compensated absences (27,970,061) <br /> Claims and judgments (19,488,411) <br /> Landfill closure/postclosure costs (20,250,000) <br /> Total long-term liabilities (362,776,216) <br /> i <br /> Net assets of governmental activities $513,481,598 <br /> See accompanying notes to the basic financial statements. <br /> - 31 - <br /> i <br />