Acton-Boxborough Regional School District Reconciliation of the Statement Of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities Year Ended June 30, 2024
Reconciliation of the statement of revenues, expenditures, and changes in fund balances of governmental funds to the statement of activities Net change in fund balances - total governmental funds………………………………………………………….…… $ (4,367,730) Governmental funds report capital outlays as expenditures. However, in the Statement of Activities the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense. Capital outlay………………………………………………………………………………………………… 5,433,453 Depreciation expense………………………………………………………………………………………… (7,081,378) Net effect of reporting capital assets………………………………………………………………… (1,647,925) The issuance of long-term debt provides current financial resources to governmental
funds, while the repayment of the principal of long-term debt consumes the financial resources of governmental funds. Neither transaction has any effect on net position. Also, governmental funds report the effect of premiums, discounts, and similar items when debt is first issued, whereas these amounts are unavailable and amortized in the Statement of Activities. Principal payments on right to use lease liabilities…………………………………………………………… 559,013 Right to use lease financing…………………………………………………………………………………… (772,193) Due to other governments…............................................................................................................................ 183,334 Net amortization of premium from issuance of bonds………………………………………………………… 403,026 Debt service principal payments……………………………………………………………………………… 3,720,000 Net effect of reporting long-term debt………………………………………………………………… Some expenses reported in the Statement of Activities do not require the use of current financial resources and, therefore, are not reported as expenditures in the governmental funds. Net change in compensated absences accrual………………………………………………………………… 85,987 Net change in accrued interest on long-term debt…………………………………………………………… 61,125 Net change in deferred outflow/(inflow) of resources related to pensions…………………………………… (967,128) Net change in net pension liability…………………………………………………………………………… 489,905 Net change in deferred outflow/(inflow) of resources related to other postemployment benefits…………… (7,185,983) Net change in net other postemployment benefits liability…………………………………………………… 5,385,810 Net effect of recording long-term liabilities……………………………………………………............
4,093,180
(2,130,284)
Change in net position of governmental activities……………………………………………………………………
$ (4,052,759)
See notes to basic financial statements. 22
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