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CITY OF SUNNY ISLES BEACH, FLORIDA
<br />RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET
<br />TO THE STATEMENT OF NET POSITION
<br />SEPTEMBER 30, 2023
<br />Fund Balances - Total Governmental Funds $ 106,164,350
<br />Amounts reported for governmental activities in the statement
<br />of net position are different as a result of:
<br />Capital assets used in governmental activities are not
<br />available, spendable resources and, therefore, are not reported
<br />in the governmental funds:
<br />Governmental capital assets $ 314,368,404
<br />Less accumulated depreciation/amortization (59,313,408) 255,054,996
<br />Deferred outflows/inflows of resources related to
<br />defined benefit pension, OPEB plan, and debt refunding
<br />are reported in the statement of net position but are not
<br />reported in the governmental funds:
<br />Deferred inflows related to debt refunding (7,710)
<br />Deferred outflows related to OPEB 1,062,554
<br />Deferred inflows related to OPEB (3,137,676)
<br />Deferred outflows related to pension 8,586,989
<br />Deferred inflows related to pension (1,298,101) 5,206,056
<br />Long-term liabilities, including bonds and notes payable,
<br />are not due and payable in the current period and,
<br />therefore, are not reported in the governmental funds:
<br />Bonds and notes
<br />(10,820,238)
<br />Accrued interest payable on long-term debt
<br />(117,538)
<br />Total OPEB liability
<br />(3,716,569)
<br />Net pension liability
<br />(33,404,301)
<br />Leases (Right -of -use assets) acquired
<br />(59,706)
<br />Subscriptions (Right -of -use assets) acquired
<br />(1,054,112)
<br />Compensated absences
<br />(5,019,066) (54,191,530)
<br />Certain revenues are considered deferred inflows in the
<br />governmental funds due to the availability of the funds;
<br />under full accrual accounting they are considered revenues. 165,721
<br />Net Position of Governmental Activities $ 312,399,593
<br />The accompanying notes to basic financial statements are an integral part of these statements.
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