2015-COH - Comprehensive Annual Financial Report

Home

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, 2015 Net change in fund balances - total governmental funds 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: $ (45,186,348) Capital outlay 66,476,678 38,600,227 Dedicated and contributed property 10,255,218 Depreciation expense and loss on disposals (38,131,669 Excess of capital outlay over depreciation expense 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: Capital leases (1,971,074) Repayment of long -tern debt is reported as an expenditure in governmental funds, but the repayment reduces long -tern liabilities in the statement of net position. In the current year, these amounts consist o1 19,329,457 1,376,425 1,297,606 Bond principal retirement State Revolving Fund loan repayments 22,003,488 Capital lease payments Total long -tern debt repayment 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 decreased by this 322,963 amount this year. (Continued)