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CITY OF SAN MARCOS, TEXAS <br />RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES <br />AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE <br />STATEMENT OF NET ACTIVITIES <br />FOR THE YEAR ENDED SEPTEMBER 30, 2007 <br />Net change in fund balances - total governmental funds: $ 26,953,109 <br />Amounts reported for Governmental Activities in the Statement of Activities are different because: <br />Governmental funds report capital outlays as expenditures. However. in the statement of <br />activities the cost of those assets is allocated over their estimated useful lives and reported <br />as depreciation expense. This is the amount by which capital outlays exceeded <br />depreciation in the current period. 16,108,299 <br />Revenues in the statement of activities that do not provide current financial resources are <br />not reported as revenues in the funds. ( 1,588,054) <br />The issuance of long -term debt (e.g., bonds, leases) provides current financial resources to <br />governmental funds, while the repayment of the principal of long -term debt consumes the <br />current financial resources of governmental funds. Neither transaction, however, has any <br />effect on net assets. ( 30,936,164) <br />Some expenses reported in the statement of activates do not require the use of current <br />financial resources and, therefore, are not reported as expenditures in governmental funds. ( 295,984) <br />Internal service funds are used by management to charge the costs of certain activities, <br />such as fleet maintenance and information technology, to individual funds. The net <br />revenue (expense) of certain internal service funds is reported with governmental activities. 432.096 <br />Change in net assets of governmental activities $ 1073,302 <br />The accompanying notes are an integral part of these financial statements. <br />19 <br />