athens tn acfr fy2022

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CITY OF ATHENS, TENNESSEE
RECONCILIATION OF THE STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN FUND BALANCES OF

GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
Year Ended June 30, 2022

Net change in fund balances

Amounts for governmental activities included in the statement of
activities are different because:

Property taxes are recognized as revenue in the period for which
they are levied in the statement of activities while funds
recognize revenue when collected and available.

$ 15,222,589

Current year levy $ 6,529,093

Fund revenue recognized (6,605,855) (76,762)
Funds report capital outlays as expenditures. Asset cost is
capitalized and allocated over the estimated useful lives as
depreciation expense in the statement of activities.

Capital asset expenditures in the current period 21,740,487

Net book value of capital assets retired (18,032)

Less current year depreciation (1,311,828) 20,410,627
Internal service funds are used by management to charge the cost
of internal services to individual funds. The change in net
position of the internal service funds is reported with
governmental activities. 747,379
Funds report proceeds from the issuance of long-term debt as
financing sources and the related liabilities as expenditures when
paid, but the proceeds and payments are recorded through a
liability in the statement of net position.

Proceeds from general obiligation bonds issued (25,250,000)

Long-term debt payments 275,000

Net change in accrued interest (187,918)

Net change in unamortized premium (297,289)

Net change in compensated absences (18,068)

Net change in sick leave liability (3,174) (25,481,449)
Pension expense in funds not expensed in government-wide 850,807
Negative pension expense not recognized in funds 1,254,997
OPEB expense not recognized in funds (295,727)
OPEB expense in funds not expensed in government-wide 100,191
OPEB revenue in government-wide not in funds 111,070
Expense reported in government-wide not in funds (535)

Change in net position

The Notes to Financial Statements are an integral part of this statement.

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